After a decade steering Google, Eric Schmidt embarks on a new mission: guiding rocket startup Relativity Space through its crucial Terran R launch and beyond, armed with capital, connections, and a history of startup success.

From Search to Space: Eric Schmidt Takes the Helm at Relativity Space

In a move that has the space industry buzzing, former Google CEO Eric Schmidt is stepping into the CEO role at Relativity Space, a rocket startup founded nine years ago. This marks Schmidt's first time as CEO since leaving Google nearly 15 years prior.

A Significant Investment and a Controlling Stake

Schmidt informed Relativity Space employees on Monday that he has made a significant investment and secured a controlling stake in the company, according to The New York Times.

This transition places Schmidt at the helm as Relativity Space prepares for the 2026 launch of Terran R, a larger rocket poised to compete with SpaceX's Falcon 9 and Falcon Heavy.

He succeeds co-founder Tim Ellis, who will remain involved as a director on the company's board.

Why Now? A Critical Juncture for Relativity Space

Schmidt's arrival comes at a pivotal moment. Relativity Space is gearing up for the 2026 launch of Terran R, a rocket designed to compete with SpaceX's Falcon 9 and Falcon Heavy. The company has already secured nearly $3 billion in launch contracts, signaling strong market demand.

What Schmidt Brings to the Table:

• Capital: Schmidt's investment injects vital funds into the company.
• Experience: His decade-long tenure as Google's CEO provides invaluable leadership experience.
• Connections: Schmidt's strong ties in Washington, D.C., could prove beneficial in navigating government relations for future launches.

Relativity Space: Innovation and Challenges

Relativity Space distinguishes itself through its innovative approach to rocket production, utilizing 3D printers, automated robots, and artificial intelligence. The company had previously set an ambitious goal to launch the first private space mission to Mars by 2024, but faced delays.

The Terran 1 Journey: A Stepping Stone

In 2023, Relativity Space successfully launched its Terran 1 rocket, demonstrating the viability of its 3D-printed technology. While Terran 1 didn't reach orbit, it paved the way for the development of Terran R. The company has since discontinued Terran 1 to focus solely on Terran R.

Overcoming Financial Hurdles

In 2024, Relativity Space faced cash shortages and struggled to secure additional funding, highlighting the financial challenges inherent in the space industry.

Previous investors include prominent names like Mark Cuban, BlackRock, and Fidelity.

Can Schmidt Navigate the Space Race?

The space industry is fiercely competitive, with established players like SpaceX, Rocket Lab, and Blue Origin vying for dominance. Schmidt's track record of growing startups suggests he is well-equipped to lead Relativity Space through this challenging landscape.

Will Schmidt's expertise in scaling tech companies translate to success in the complex world of rocket launches and space exploration? Only time will tell.

Topics: Eric Schmidt, Relativity Space, rockets, Space, Startups