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Jeff Bezos Sells USD 1 Billion In Amazon Stock For Space Project

Jeff Bezos
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Billionaire Jeff Bezos recently revealed, he is selling $1 billion in stock of Amazon.com Inc each year to finance his rocket company, Blue Origin.

Blue Origin LLC, founded by Bezos more than a decade ago, aims to carry tourists to space by 2018.

“My business model right now for Blue Origin is I sell about a billion a year of Amazon stock, and I use it to fund Blue Origin. So, the business model for Blue Origin is very robust,” Jeff Bezos said Wednesday at the annual US Space Symposium in Colorado.

Bezos showed off the New Shepard rocket and a mock-up of the large-windowed capsule that tourists will one day ride to suborbital space—just past the Karman Line some 62 miles (100 kilometres) above Earth—and back.

Blue Origin is building a reusable rocket and is seen as a competitor to Elon Musk’s SpaceX.

The pod will be equipped with the “largest windows in spacecraft history,” according the company.

It has room for six passengers each with their own window and a reclining leather seat that will distribute the force felt when shooting into space, Blue Origin said.

In the long term, the corporation aims to turn itself into a profitable, self-sustaining enterprise and to start cutting the cost of space flight, making it available to millions of people, Jeff Bezos said.

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