We have absolutely no context on his personal life, just a couple news stories. Is he a bad parent because this is risky? Or a good parent because he's being a role model for courage, or achieving your dreams, or something else.
We don't know what the children value. We don't know what kinds of talks they have had. I have no idea if his children asked him to not do it, or if they want him to fly around the moon. We don't know what the contingency plan is if there's an accident. I just don't feel I know enough about their situation to say if he's a bad parent or a good one.
I don't even know how old his children are, I'm going to assume teens because he's 50. Late teens early 20s is also possible. Either way old enough to have input and mature conversations.