Jeff Bezo
One of the world’s largest satellite operators, Paris-based Eutelsat Communications SA (NYSE:ETL), will become the first paid customer of Blue Origin LLC, a fledgling reusable launch services provider founded by business technology entrepreneur Jeff Bezos, who also started Seattle’s Amazon.com, Inc. (NASDAQ: AMZN).
Bezos broke the news on Tuesday, March 7, while speaking at the Satellite 2017 conference in Washington, D.C., where he also expressed hope of driving down launch costs from roughly $100 million to just $5 million per mission to make space tourism an economic reality. His concept is to turn launch vehicles into the equivalent of aircraft for airlines that complete one mission and then are readied for another one to let the investment in hardware remain productive.
Similar to Elon Musk, who became wealthy from launching one highly successful business to fund a start-up launch services company, Space Technologies Corp., which is commonly known as SpaceX, Bezos said he fell in love with space and wanted to form a company to pursue his dream.
As a result, Bezossaid he is taking his “lottery winnings” from founding Amazon and using the financial resources for Blue Origin, of Kent, Washington.
Bezos, who also owns The Washington Post, said his fascination with space began when he watched on television as U.S. astronaut Neil Armstrong walked on the moon in 1969.
“You don’t choose your passions,” Bezos said. “Your passions choose you.”
Paul Dykewicz is the editorial director of Eagle Financial Publications, editor of StockInvestor.com and DividendInvestor, a columnist for Townhall and Townhall Finance, a commentator and the author of an inspirational book, “Holy Smokes! Golden Guidance from Notre Dame’s Championship Chaplain,” with a Foreword by legendary football coach Lou Holtz. Visit Paul’s website at www.holysmokesbook.com and follow him on Twitter @PaulDykewicz.