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Earth is worth £3,000 trillion, according to an astrophysicist who claims to have created a formula to calculate the value of a planet.

The astrophysicist, Greg Laughlin, came up with the figure by calculating the sum of the planet's age, size, temperature , mass and other vital statistics – and Earth came out as the most expensive.

"The formula makes you realize just how precious Earth is and I hope it will help us as a society safeguard what we have," he said.

Earth is worth £3,000 trillion, according to an astrophysicist who claims to have created a formula to calculate the value of a planet.

The astrophysicist, Greg Laughlin, came up with the figure by calculating the sum of the planet's age, size, temperature , mass and other vital statistics – and Earth came out as the most expensive.

"The formula makes you realize just how precious Earth is and I hope it will help us as a society safeguard what we have," he said.

Mars was only valued at £10,000, while Venus is said to be worth less than a penny. There are about 1,235 other planets in the universe, most of which weren't given a high price tag because of their inhospitable climates.

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