Amazon.com’s founder and CEO Jeff Bezos reportedly said that he is selling about $1 billion worth of amazon’s stock annually to fund his Blue origin rocket company.
The Blue origin rocket company aims to launch the paying passengers on 11 minutes space rides which may start by next year.
Blue Origin will begin test flights with company pilots and engineer this year.
Bezos said, “My business model right now … for Blue Origin is I sell about $1 billion of Amazon stock a year and I use it to invest in Blue Origin. Ultimately, the plan is for Blue Origin to become a profitable, self-sustaining enterprise, with a long-term goal to cut the cost of spaceflight so that millions of people can live and work off Earth.”
He is the largest shareholder with 80.9 million shares of Amazon.
For now, Kent, Washington-based Blue Origin is working toward far shorter hops – 11-minute space rides that are not fast enough to put a spaceship into orbit around Earth.
Blue Origin has not started selling tickets or set prices to ride aboard its six-passenger, gumdrop-shaped capsule, known as New Shepard.
The rocket has been designed to carry passengers to an altitude of more than 100 miles above the planet so that they can experience a few minutes of weightlessness and see the curvature if earth set against the blackness of space.