big number
$4.8 billion. That’s how much Blue Origin is reportedly expected to spend this year, after spending $28 billion since 2000.
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tangent
An influx of capital follows the latest setback for Blue Origin: In May, the company’s New Glenn rocket exploded on the launchpad during a test while preparing for an upcoming launch. Blue Origin said it experienced an “anomaly” during a “hotfire test” of the rocket, a process in which a rocket’s engines are ignited while it remains bolted to the launch pad. The explosion damaged Blue Origin’s sole launchpad for the New Glenn rocket at Cape Canaveral Space Force Station, and repairs are expected to take several months.
key background
Blue Origin has emerged in recent years as a potential competitor to SpaceX, with which the company has competed for commercial contracts and for the development of a lunar lander for NASA. Bezos signaled in May his rocket firm was “considering” outside investment, noting it was a “good time” to “start thinking about the future and bring on some other outside investors.” Other executives have suggested Blue Origin needed more funding, including CEO Dave Limp, who told employees it would “take a lot of capital” for the company to achieve its goals, the Financial Times reported, citing details from an all-hands meeting.
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forbes valuation
Bezos is the fourth-richest person in the world with a fortune valued at $255.5 billion, according to Forbes’ estimates.
further reading
ForbesBlue Origin’s New Glenn Rocket Explodes During Test In Blow To SpaceX RivalBy Siladitya Ray