Bezos sells $2.4 billion in Amazon stock
Capitalism in space: According to SEC filings, Jeff Bezos this week sold $2.4 billion in Amazon stock, adding to all his increasing stock sales in recent years.
Bezos said in 2017 that he was selling $1 billion a year to fund his Blue Origin space venture, but he has been increasing the size and frequency of the stock sales recently. He sold more than $7 billion last year. This is his first stock sale of 2021.
By my count of all his sales since 2017, Bezos has raised about $12 billion in cash. Of this, he has said that he wants to spend $10 billion on fighting “climate change,” as well as at least $1 billion per year on Blue Origin.
One way or the other, Blue Origin has far more cash available to it than SpaceX. Too bad Bezos’ company has done so little with it in the past four years. Four years ago the company was truly a viable competitor to SpaceX, though behind it in the curve. Then Bezos hired a new CEO, Bob Smith, to run the company. The development pace slowed to a crawl as the company shifted gears from using Bezos’ money to fund development to trying to obtain government money instead. That shift forced Blue Origin to bow to government demands, which in turn slowed development of their New Glenn orbital rocket. The company also took the big space approach toward development of its lunar lander, pausing all real design and construction until it won the NASA contract. This made it less attractive a bid, which is one reason SpaceX’s Starship won the contract instead.
In addition, the company ended the many and frequent test flights of New Shepard that had been occurring, slowing the pace to about one launch per year.
In that time Blue Origin lost so much ground that it will now be difficult, but not impossible, to catch up. Maybe these cash sales by Bezos is to give him the capital to catch up. I hope so. We need real competitors to SpaceX.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
Capitalism in space: According to SEC filings, Jeff Bezos this week sold $2.4 billion in Amazon stock, adding to all his increasing stock sales in recent years.
Bezos said in 2017 that he was selling $1 billion a year to fund his Blue Origin space venture, but he has been increasing the size and frequency of the stock sales recently. He sold more than $7 billion last year. This is his first stock sale of 2021.
By my count of all his sales since 2017, Bezos has raised about $12 billion in cash. Of this, he has said that he wants to spend $10 billion on fighting “climate change,” as well as at least $1 billion per year on Blue Origin.
One way or the other, Blue Origin has far more cash available to it than SpaceX. Too bad Bezos’ company has done so little with it in the past four years. Four years ago the company was truly a viable competitor to SpaceX, though behind it in the curve. Then Bezos hired a new CEO, Bob Smith, to run the company. The development pace slowed to a crawl as the company shifted gears from using Bezos’ money to fund development to trying to obtain government money instead. That shift forced Blue Origin to bow to government demands, which in turn slowed development of their New Glenn orbital rocket. The company also took the big space approach toward development of its lunar lander, pausing all real design and construction until it won the NASA contract. This made it less attractive a bid, which is one reason SpaceX’s Starship won the contract instead.
In addition, the company ended the many and frequent test flights of New Shepard that had been occurring, slowing the pace to about one launch per year.
In that time Blue Origin lost so much ground that it will now be difficult, but not impossible, to catch up. Maybe these cash sales by Bezos is to give him the capital to catch up. I hope so. We need real competitors to SpaceX.
On Christmas Eve 1968 three Americans became the first humans to visit another world. What they did to celebrate was unexpected and profound, and will be remembered throughout all human history. Genesis: the Story of Apollo 8, Robert Zimmerman's classic history of humanity's first journey to another world, tells that story, and it is now available as both an ebook and an audiobook, both with a foreword by Valerie Anders and a new introduction by Robert Zimmerman.
The print edition can be purchased at Amazon or from any other book seller. If you want an autographed copy the price is $60 for the hardback and $45 for the paperback, plus $8 shipping for each. Go here for purchasing details. The ebook is available everywhere for $5.99 (before discount) at amazon, or direct from my ebook publisher, ebookit. If you buy it from ebookit you don't support the big tech companies and the author gets a bigger cut much sooner.
The audiobook is also available at all these vendors, and is also free with a 30-day trial membership to Audible.
"Not simply about one mission, [Genesis] is also the history of America's quest for the moon... Zimmerman has done a masterful job of tying disparate events together into a solid account of one of America's greatest human triumphs."--San Antonio Express-News
I think Bezos is counting on his friends in government (the real reason he bought an influencer like the Washington Post) to help him out. He hopes they will either directly help through NASA contracts or indirectly help by slowing SpaceX down with regulations. Actually being innovative is apparently not an option.
By the way, is the July 20th date for the first suborbital manned launch realistic?
Technically speaking, they are ready right now.
https://www.nasaspaceflight.com/2021/04/blue-origin-new-shepard-15/
Jeff has been seduced into the Good Ole Boys club of old-space companies. However, I still can’t help rooting for Jeff and Blue Origin, despite the frustration of glacial progress and self destructive decision making. A second reusable spacecraft would open the floodgates to cis-lunar development. If Jeff put his money where his mouth is, we would see O’Neill habitats at L4 and L5 within our lifetimes.
I think RocketLab may surpass BO before too long. If Bezos want to join the Old Space Club, buying ULA may be his best bet.
Well, my Dad once said he never knew anyone by the name of “Smith” who was ever any good. Oh! The pain! Bezos needs to go the other direction and build the old Boeing Space Freighter concept-a winged SS/SH concept. It does look like SLS will only fly so often…so make Space Freighter and save some jobs. Musk lands vertical-Bezos glides-both support methalox. Jeff could save Boeing. A few of their planes offset somewhat the many cars we get overseas. Get engineers back. That should be his calling. Buy engines from Musk.
Steve Miller Band Live From Chicago
“Take The Money And Run”
https://youtu.be/6MneA9pgLVw
4:33
Now-with his level of money…I’d prop up sci-fi art and hobbies-save CINEFEX, and bring back the Avro Arrow and TSR-2.