"Seventeen years of hard work to get us this far," a jubilant Branson said as he congratulated his team on the trip back aboard the sleek white space plane, named Unity.

He pumped both fists as he stepped out onto the runway and ran toward his family, bear-hugging his wife and children and scooping up his three grandchildren in his arms.

The brief, up-and-down flight—the rocket ship's portion took only about 15 minutes, or about as long as Alan Shepard's first U.S. spaceflight in 1961—was intended as a confidence-boosting plug for Virgin Galactic, which plans to start taking paying customers on joyrides next year.

Branson became the first person to blast off in his own spaceship, beating Bezos by nine days. He also became only the second septuagenarian to depart for space. (Astronaut John Glenn flew on the shuttle at age 77 in 1998.)

With about 500 people watching, including Branson's family, a twin-fuselage aircraft with his space plane attached underneath took off in the first stage of the flight. The space plane then detached from the mother ship at an altitude of about 8 1/2 miles (13 kilometers) and fired its engine, reaching more than Mach 3, or three times the speed of sound, as it pierced the edge of space.

The crowd cheered and yelled as it touched down on the runway. Some spectators jumped into the air. Others embraced and shared hugs.

"That was an amazing accomplishment," former Canadian astronaut Chris Hadfield, a one-time commander of the International Space Station, said from the sidelines. "I'm just so delighted at what this open door is going to lead to now. It's a great moment."

Virgin Galactic conducted three previous test flights into space with crews of just two or three.

The flamboyant, London-born founder of Virgin Atlantic Airways wasn't supposed to fly until later this summer. But he assigned himself to an earlier flight after Bezos announced plans to ride his own rocket into space from Texas on July 20, the 52nd anniversary of the Apollo 11 moon landing. Branson denied he was trying to outdo Bezos.

Before climbing aboard, Branson, who has kite-surfed the English Channel and attempted to circle the world in a hot-air balloon, signed the astronaut log book and wisecracked: "The name's Branson. Sir Richard Branson. Astronaut Double-oh one. License to thrill."

One of Branson's chief rivals in the space-tourism race among the world's richest men, SpaceX's Elon Musk, arrived in New Mexico to witness the flight, wishing Branson via Twitter, "Godspeed!"

Bezos likewise sent his wishes for a safe and successful flight, though he also took to Twitter to enumerate the ways in which be believes his company's rides will be better.

Bezos' Blue Origin company intends to send tourists past the so-called Karman line 62 miles (100 kilometers) above Earth, which is is recognized by international aviation and aerospace federations as the threshold of space.

But NASA, the Air Force, the Federal Aviation Administration and some astrophysicists consider the boundary between the atmosphere and space to begin 50 miles (80 kilometers) up.

The risks to Branson and his crew were underscored in 2007, when a rocket motor test in California's Mojave Desert left three workers dead, and in 2014, when a Virgin Galactic rocket plane broke apart during a test flight, killing one pilot and seriously injuring the other.

Ever the showman, Branson insisted on a global livestream of the Sunday morning flight and invited celebrities and former space station astronauts to the company's Spaceport America base in New Mexico.

R&B singer Khalid performed his new single "New Normal"—a nod to the dawning of space tourism—while CBS "Late Show" host Stephen Colbert served as the event's master of ceremonies.

Virgin Galactic already has more than 600 reservations from would-be space tourists, with tickets initially costing $250,000 apiece. Blue Origin is waiting for Bezos' flight before announcing its ticket prices.

Kerianne Flynn, who signed up in 2011 to fly with Virgin Galactic, had butterflies ahead of the launch Sunday.

"I think there's going to be nothing like going up there and looking back down on the Earth, which is what I think I'm most excited about," she said. She added: "Hopefully the next generations will be able to explore what's up there," she said.

Musk's SpaceX, which is already launching astronauts to the International Space Station for NASA and is building moon and Mars ships, is also competing for space tourism dollars. But its capsules will do more than make brief, up-and-down forays; they will go into orbit around the Earth, with seats costing well into the millions. Its first private flight is set for September.

Musk himself has not committed to going into space anytime soon.

"It's a whole new horizon out there, new opportunities, new destinations," said former NASA astronaut Chris Ferguson, who commanded the last shuttle flight 10 years ago. He now works for Boeing, which is test-flying its own space capsule.

"This is really sort of like the advent of commercial air travel, only 100 years later," Ferguson added. "There's a lot waiting in the wings."

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