President-elect Donald Trump announced on Wednesday that he has nominated Jared Isaacman, billionaire entrepreneur and veteran SpaceX astronaut, to lead NASA as its next administrator.

Isaacman, best known as the founder and CEO of financial technology giant Shift4 and as a pioneer in private space exploration, will succeed Bill Nelson, who led NASA under the Biden administration.

Trump, who made the announcement via X, expressed confidence that Isaacman’s leadership would usher in a new era for space exploration in America.

“Jared’s passion for Space, astronaut experience, and dedication to pushing the boundaries of exploration, unlocking the mysteries of the universe, and advancing the new Space economy, make him ideally suited to lead NASA into a bold new Era,” Trump wrote.

Over the past 25 years, Isaacman has transformed Shift4 from a startup project into a global leader in financial technology.

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Additionally, Isaacmans leadership at Draken International, a defense aerospace company he co-founded, has positioned him as a key player in the private sector’s growing influence on space exploration.

In recent years, Isaacman has garnered attention for his role in the Polaris Dawn mission, which made headlines as the first commercial spacewalk in history. Alongside SpaceX engineer Sarah Gillis, Isaacman and his team succeeded in that mission to venture farther from Earth than any human has in over 50 years.

“I am honored to receive President Trump’s nomination to serve as the next Administrator of NASA. Having been fortunate to see our amazing planet from space, I am passionate about America leading the most incredible adventure in human history,” Isaacman posted to X.

“I can confidently say this second space age has only just begun….At NASA, we will passionately pursue these possibilities and usher in an era where humanity becomes a true spacefaring civilization,” he added.

The NASA Administrator, responsible for a budget of $25 billion, will play a pivotal role in implementing the upcoming Artemis missions. These missions hope to return humans to the Moon by the mid-2020s and eventually send astronauts to Mars.

Isaacman’s selection could be seen as a direct reflection of the growing connection between NASA and private-sector space players like SpaceX.

“Space holds unparalleled potential for breakthroughs in manufacturing, biotechnology, mining, and perhaps even pathways to new sources of energy. There will inevitably be a thriving space economy, one that will create opportunities for countless people to live and work in space,” Isaacman said.

His nomination will undergo the Senate confirmation process in the coming weeks. Given Isaacman’s connections within the space industry and impressive resume, his confirmation is expected to be quick.