• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war

2

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

3

Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation

1

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war

2

FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’

3

Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation
TechBlue Origin

Everything to know about Tuesday’s Blue Origin space launch with Jeff Bezos

By
Kevin T. Dugan
Kevin T. Dugan
Down Arrow Button Icon
By
Kevin T. Dugan
Kevin T. Dugan
Down Arrow Button Icon
July 19, 2021, 8:00 PM ET
Video Poster
Add Fortune on Google for similar content.

If all goes well, Jeff Bezos will spend four minutes on Tuesday suspended weightless in the lowest rung of suborbital space. For the world’s richest man, who’s funded his space company, Blue Origin, with at least $5.5 billion of his own money, that’s about $1.38 billion a minute. 

Bezos is set to be the second billionaire space jockey, after Richard Branson rode a Virgin Galactic spacecraft on July 11 past where Earth’s atmosphere ends and the final frontier begins. 

The new space race, some 60 years after the Cold War competition between the U.S. and the Soviet Union, is now funded by private capital and still could have decades more of development. Here’s what we know about the upcoming Blue Origin flight:

A vacuum of information, almost

Blue Origin—the space company Bezos founded in 2000—is private, if not secretive. Unlike rival Virgin Galactic, it doesn’t publish any filings that document its financial state or the risks to the company. In that way, it’s much closer to SpaceX, Elon Musk’s rocket company, which keeps its plans relatively close to the space vest.

But it doesn’t operate in a hermitage. Corporate filings from Bezos’s other company, Amazon, disclosed that Blue Origin bought $4.2 million in unnamed consumer goods from the online retailer last year, in addition to the direct funding from the CEO. For one, at least 19 patents are registered under Blue Origin, including one for technology that will aid the takeoff and landing of a vertical craft. It’s also won government contracts to take payloads into suborbital space on its aircraft, and others for using NASA’s technology. For one contract, NASA notes that Blue Origin failed to adequately detail conflicts of interest, and said it would have to rely on NASA’s funding—a curious admission considering that Bezos’s net worth is about 10 times the space agency’s annual budget. 

And since it is a private company, its spending can follow the whims of its owner—for better or worse. For instance, Bezos reportedly paid as much as $20 million for a Blue Origin ad that was supposed to run during the 2019 Super Bowl. The ad was pulled, however, during a tabloid scandal that exposed a Bezos affair, when it was revealed that his girlfriend, Lauren Sanchez, had worked on the TV spot. 

To the Moon

On July 20, the rocket New Glenn will shoot Bezos and his crew just barely into space, giving him the distinction of being the Virgil Grissom to Branson’s Alan Shepard. While Virgin Galactic plans on eventually growing suborbital spaceflight into a profitable industry, Blue Origin has made no mention of a profit motive—and in fact has bigger, more expensive plans for the future. 

NASA currently plans on bringing humans back to Earth’s only natural satellite under what’s called Project Artemis, and Blue Origin will be working with SpaceX, Northrop Grumman, and other companies selected by the agency to do it. Artemis—the twin sister of Greek god Apollo—would be the first spaceflight that brings a woman and a person of color to the Moon, and the first time humans have set foot there in more than 50 years. Blue Origin is the prime contractor and will be responsible for building the reusable vehicle that shuttles the astronauts to the Moon’s surface. It’s unclear if the timeline for any launch has been affected by the COVID-19 pandemic, but a 2019 announcement said that there are 25 planned test flights before a 2024 launch. 

Space needs space

It takes an intense amount of energy to overcome gravity and fly into space. SpaceX’s Falcon9 rocket uses more than 902,000 pounds of fuel to reach suborbital space, for instance. One way to reduce the amount of gravitational pull is by launching near the equator—and Jeff Bezos has been buying plenty of land in one of the U.S.’s southernmost areas. 

Blue Origin’s launch site is located on a 30,000 acre—or about 47-square-mile—tract of land in West Texas outside El Paso. (That’s about 7% of the 420,000 acres reportedly owned by Bezos.) To put that into perspective, that’s about three times the 17 or so square miles of land Amazon owns or leases, according to public filings. Still, there isn’t much for Blue Origin’s 275 employees or 50 contractors to do there. Residents of the nearby town Van Horn, where there’s a Holiday Inn and a McDonald’s for visitors, say that Bezos doesn’t come round to socialize that often.

A $28 million ‘scheduling conflict’

While Blue Origin has launched test flights of the New Shepard, this launch will be the first with a crew. Aside from Bezos, the passengers will include his brother Mark, and Wally Funk—an 82-year-old aviator who was passed over to serve as an astronaut in 1961 because she was a woman. There’s also Oliver Daemen, an 18-year-old Dutch man whose qualification is being the son of a private equity CEO who bid on the seat. 

While it’s unclear how many tens of millions of dollars Daemen spent on the seat, Blue Origin has booked at least one more flight. In fact, someone spent $28 million to occupy the high school graduate’s seat, but then backed out owing to “scheduling conflicts.” The bidder, whose name hasn’t been released, will apparently be on a subsequent flight. This first crew, however, will include the youngest and oldest people ever to fly into space. 

Subscribe to Fortune Daily to get essential business stories straight to your inbox each morning.

About the Author
By Kevin T. Dugan
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

A massive margin call and ‘push-button liquidity’ have torched stocks, but they’re now poised to rebound, top Wall Street forecaster says
Investingtech stocks
A massive margin call and ‘push-button liquidity’ have torched stocks, but they’re now poised to rebound, top Wall Street forecaster says
By Jason MaJuly 18, 2026
1 hour ago
xi
AIChina
A Chinese Pink Floyd fan is giving Claude and Chat their own DeepSeek moment — an AI model just as good and half the price
By Matt O'Brien and The Associated PressJuly 18, 2026
4 hours ago
ives
BankingMarkets
‘I’m an example of what I’ve preached’: Dan Ives knows AI has a ‘PR problem’ but it led to his massive career change after 25 years on Wall Street
By Nick LichtenbergJuly 18, 2026
7 hours ago
pt
PoliticsReligion
Peter Thiel just gave the public its closest look yet at his ‘Antichrist’ theory—and it’s a tech and climate regulator
By Nick LichtenbergJuly 18, 2026
8 hours ago
Svenja Gudell, Chief Economist, Indeed
Commentaryaging
Indeed chief economist: Aging Baby Boomers are America’s real labor problem, not AI
By Svenja GudellJuly 18, 2026
9 hours ago
SpaceX stock falls back to earth shortly after Wall Street analysts release florid targets: ‘Paving the superhighway to the stars’
Investinginvesting strategy
SpaceX stock falls back to earth shortly after Wall Street analysts release florid targets: ‘Paving the superhighway to the stars’
By Shawn TullyJuly 18, 2026
11 hours ago

Most Popular

U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war
Economy
U.S. companies have finally gotten $71 billion in tariff refunds, but they’re using it to offset inflation caused by the Iran war
By Sasha RogelbergJuly 17, 2026
1 day ago
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
C-Suite
FedEx CEO says we are in the middle of the biggest supply chain shift he’s seen in 35 years: ‘We are the referendum’
By Fortune EditorsJuly 15, 2026
3 days ago
Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation
Law
Kevin O’Leary claimed opposition to his Utah data center was fueled by Chinese money. Now he and Fox News are being sued for defamation
By Marco Quiroz-GutierrezJuly 17, 2026
1 day ago
Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google
Big Tech
Buffett says AI giants are ‘playing a game they don’t want to play’ in the AI race, reveals he was behind Berkshire’s $31 billion bet on Google
By Mia OsmonbekovJuly 16, 2026
2 days ago
Trump may have to choose between an endless quagmire and ceding the Strait of Hormuz to Iran
Energy
Trump may have to choose between an endless quagmire and ceding the Strait of Hormuz to Iran
By Jordan BlumJuly 18, 2026
11 hours ago
After the Supreme Court killed his first tariffs, Trump turns to a new legal workaround to impose 25% tariffs on Brazil and possibly others
Economy
After the Supreme Court killed his first tariffs, Trump turns to a new legal workaround to impose 25% tariffs on Brazil and possibly others
By Marco Quiroz-GutierrezJuly 17, 2026
21 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.