TLDR: Elon Musk, CEO of SpaceX and Tesla, announced plans to establish a human colony on Mars with one million settlers. Musk believes that a self-sustaining civilization on Mars is necessary as an insurance policy for the survival of humanity. He has long voiced his intention to make humanity “multi-planetary” and has previously discussed plans for a permanent Moon base. Although Musk is known for his ambitious timelines, his companies have achieved major milestones in the past. However, there are still technical challenges to overcome, as shown by a recent Starship test flight that ended in an explosive crash. Musk hopes that the third test this year will prove the capabilities of the vehicle.