Elon Musk fears that humans will die out if they do not make the move into space.
The SpaceX tycoon has urged humanity to advance into orbit as asteroids passing by our planet mean that the threat of civilisation being wiped out is greater than ever.
Musk said: "One of these days, a large comet will hit Earth and destroy almost all life, as has happened many times in the past.
"Eventually, the Sun will expand enough to boil the oceans and destroy all life. Either become a spacefaring civilisation or die - those are the choices."
The Tesla billionaire's stark warning comes after a massive 1,150-foot asteroid passed close to the Earth on Wednesday (18.09.24).
The asteroid came within 1 million km of Earth, which was close enough to be judged as "potentially hazardous" by boffins.