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$1 trillion in value will be created by the internet every 5 years: Milner

Internet consumer technology companies will continue to create around $1 trillion dollars in value every five years, DST Global founder Yuri Milner said.

"If you go back 10 years, there were $2 trillion worth of value created in internet consumer technology," Milner told CNBC in a segment aired on "Closing Bell" and filmed at the Aspen Ideas Festival. "On average, in the next 25, 35 years, every five years there will be another trillion dollars created."

Milner added that he has confidence new companies will continue to emerge and accrue significant value, just as they have in the past.

"It looks like every generation is capable of creating these significant breakthrough businesses," Milner added.

Earlier in the interview, Milner discussed his investments in space exploration. With Mark Zuckerberg on board and the cooperation of physicist Stephen Hawking, Milner launched a $100 million space exploration program called Breakthrough Starshot earlier this year.

Milner said his program will not be competing with other entrepreneurs who are looking toward space, such as Elon Musk. He did say he believes strong founders will be able to successfully compete with government agencies.

"The really big frontier is going beyond the solar system," Milner told CNBC of his effort to send a probe to the Alpha Centauri system. "We're trying to trail blaze this completely new area."