Former Google CEO Eric Schmidt Takes Helm at Relativity Space to Advance Rocket Ambitions

Eric Schmidt, widely recognized for leading Google from 2001 to 2011 and later serving as Alphabet's executive chairman until 2017, has taken on a new role as CEO of Relativity Space. This announcement came from Tim Ellis, the outgoing CEO and cofounder, who confirmed Schmidt's extensive financial investment and endorsement of the company's ambitious vision. Ellis will transition to a position on the company's board of directors.

Relativity Space has garnered attention within the aerospace sector by becoming the first company to successfully launch a largely 3D-printed rocket into space, although the mission earlier in 2023 did not achieve orbit. Now with Eric Schmidt at the helm, they are refocusing their efforts on their next-generation "Terran R" launch vehicle, currently in its design phase, with expected launches in the coming years.

The company's broader objectives involve the creation of reusable rocket technology and eventual aspirations to build an industrial base on Mars. These plans place Relativity Space in direct competition with established private aerospace giants such as Elon Musk's SpaceX and Jeff Bezos' Blue Origin. Specifically, their Terran R rocket may stand shoulder-to-shoulder with SpaceX’s Falcon 9 and Falcon Heavy, as well as Blue Origin's New Glenn and New Shepard rockets.

Originally founded around a decade ago and valued at over $4 billion as of 2021, Relativity Space boasts a strong backing from prominent investors including industry leaders like BlackRock, Fidelity, and Mark Cuban. While the startup initially gained recognition for pioneering advancements in 3D-printed rocket technology, the company is now diversifying its engineering approach by integrating more conventional manufacturing processes, aiming to enhance reliability and performance in future missions.