Jeff Bezos Will Sell $1 Billion Worth Of Amazon Stock Yearly In A Bid To Fund His Rocket Company

Amazon Founder, Jeff Bezos on Wednesday announced that he would be selling Amazon stock worth $1 billion annually to fund his Rocket Company, Blue Origin. The billionaire, during a symposium proudly displayed the New Shepherd rocket booster and a replica of the capsule that will get used to ferry people up to space for panoramic experiences and get them back to earth. With the primary intent being to commercialize Blue Origin and make it a tourist venture, he revealed that it would take $2.5 billion to create a much bigger rocket (New Glenn) which would be able to accommodate transporting satellites and later on even people into orbit.

Following the footsteps of his tech counterpart-Elon Musk of Tesla and SpaceX, Mr. Bezos has pinpointed reusable rocket parts as crucial elements to the reduction of admission pricing into the field, which he on Wednesday reiterated would lead to a space exploration golden age. Mr. Bezos last month announced Eutelstat (Satellite Company) as the first paying company for the New Glenn, whose costs would get offset by its commercial flights. Expected to dive into space by 2020, the New Glenn will not carry human beings as passengers until later on.

He has always expressed caution in regards to Blue Origin’s passenger trips, and this was evident on Wednesday in his briefing. Mr. Bezos didn’t mention a date on New Shepherd’s test flights timetable but said tourists trips would possibly happen next year. As per the moment, the billionaire didn’t have trip costs, but he forecasted tickets would reduce costs once the flights got much common.

New Shepherd is just one in many of Mr. Bezos plans to get into the space tourism market. The single-stage booster features a capsule on top of it designed to accommodate six passengers per trip with one trip taking about 10 to 11 minutes. The spacecraft won’t have any Blue Origin staff. The passengers will be cladded with stylish jumpsuits and will be able to have magnificent views through the largest windows in space according to the company.

The booster gets powered by an engine that produces 110,000-pound thrusts.

When going up, the forces experienced by the passengers will be around 3 Gs, equivalent to three times the normal gravity force experienced by humans on earth. On the descent, the encountered forces will be 5 Gs. Slowing down to a speed of about 20 mph, the capsule will land on West Texas plains with the booster dropping and firing its engine to slow down making a vertical touchdown.

Mr. Bezos says the primary goal is to get millions of people to work and live in space. Compared to SpaceX’s endeavors, the New Shepherd involves a much simpler flight path-just up and down with less complicated dynamics.

According to the Amazon Founder, he believes the launch of the New Shepherd trips into space will see them acquainted and more experienced which will help in the development of the New Glenn set to get manufactured and debuted in Florida. The new displayed Shephard booster featured on the Colorado symposium has made five successful flight trips, up and down since November 2015.

The last flight done in October saw it perform an emergency abort system test that’s designed to blast the capsule, and passengers eventually to safety in case the booster encounters some problems. To the surprise of the engineers, the abort system test worked with the booster surviving the separation force and descending to a landing.

In 2014, Virgin Galactic test flight ended up crashing injuring one pilot and killing the other. Both Mr. Musk and Mr. Bezos have different goals that go even beyond their existing rockets. Mr. Bezos aims at getting millions of people working and living in space while Elon Musk wants to have individuals live on Mars.

Source: NYTimes

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