The undiscovered country.
If the issue is about a manned space program, it still depends on political decisions.
I can't see wealthy privateers starting an entire manned space program on their own.
Tito used the Russian program; he didn't invest in new kinds of rockets.
Those who are very wealthy, invested wisely to get to where they are now. Walter Cunnigham advises against investing for space.
Over here, the dutch ESA astronaut André Kuypers is quite pessimistic about flying anytime soon. He depends on two different ministeries that don't want to take their responsability to pay for a flight to ISS,which the Belgian governement did, as it still requires a political decision.

Raoul