Eric Schmidt, former CEO of Google, is now the CEO of Relativity Space, a rocket startup that’s been around for nine years. This marks Schmidt’s first CEO role since leaving Google nearly 15 years ago.
On Monday, Schmidt shared with Relativity Space employees that he has made a big investment and secured a controlling share in the company, as reported by the New York Times.
He is stepping in to replace co-founder Tim Ellis, who will continue to support the company as a board director.
Schmidt joins Relativity Space as they prepare for the 2026 launch of the Terran R rocket, which is larger and aims to compete with SpaceX’s Falcon 9 and Falcon Heavy. The company has lined up nearly $3 billion in launch contracts, signaling strong interest in their upcoming rocket.
For about a decade, Schmidt led Google, stepping in when the company was growing rapidly, guiding its founders, Sergey Brin and Larry Page.
Now, Schmidt takes on the role of CEO at a pivotal time for Relativity Space. His experience could provide both financial support and strategic direction as they prepare for the Terran R launch. Plus, his connections in Washington, D.C. might help the company navigate future government partnerships.
Relativity Space stands out by using innovative techniques like 3D printing, automation, and artificial intelligence for rocket production. They once aimed to launch the first private mission to Mars by 2024, but some challenges have affected those plans.
In 2023, they launched the Terran 1 rocket, showcasing their 3D-printed technology, although it did not reach orbit. Shortly after, they decided to retire the Terran 1 and focus solely on the Terran R.
Based in Long Beach, California, Relativity Space faced financial challenges in 2024 and had difficulty securing additional funding. Notable past investors include Mark Cuban, BlackRock, and Fidelity.
While running a rocket startup differs from managing a tech giant, Schmidt has a history of guiding startups to success. With intense competition from companies like SpaceX, Rocket Lab, and Blue Origin, Relativity Space might find Schmidt’s leadership beneficial.
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