Trivia question

For those of you that watched Numb3ers last night you might have seen this.

If you take a single piece of paper and fold it in half you have 2 layers. If you fold it in half again you have 4 layers. This represents a geometric progression.

2^1 = 2 layers
2^2 = 4 layers.

If you could fold the paper in half 50 times, how high would it reach?

What is the world record for the number of times a piece of paper can be folded in half?

If you find the answers to these questions I think you might be surprised!!!!!