Elon Musk in 2004
Elon Musk poses with a SpaceX rocket in El Segundo, Los Angeles, in March 2004.
  • The new age space race has billionaires like Elon Musk wanting to colonize Mars.
  • Four scientists told Insider his plan is bad for technical, scientific, and ethical reasons.
  • The experts said forming a colony on another planetary body, like the moon, is more realistic.

SpaceX founder and entrepreneur Elon Musk has said he plans to have a million people on Mars by 2050.