Vasyl Hulyi, Correspondent
March 19, 2025 – Germany
Eric Schmidt, a Silicon Valley legend and former Google CEO, is returning to the CEO chair nearly 15 years after stepping down from the tech giant. This time, he’s aiming for space. On March 10, 2025, Schmidt announced to Relativity Space employees that he has made a major investment in the company and acquired a controlling stake, becoming its new CEO. The New York Times. broke the story first. For the 69-year-old Schmidt, it’s not just a new challenge — it’s a chance to rewrite the rules of a fiercely competitive space industry.
Founded in 2015 in Long Beach, California, Relativity Space is known for its innovative use of 3D printing, autonomous robotics, and artificial intelligence in rocket manufacturing. The company, led until now by co-founder Tim Ellis, will now operate under Schmidt’s leadership, with Ellis remaining on the board of directors and pledging his support. The transition appears to have been carefully planned: Ellis wrote on X, “There’s no one more persistent and passionate to turn Relativity’s dreams into reality.”
Why Now? Relativity is gearing up for its most ambitious launch yet: the Terran R rocket, scheduled for 2026. A medium-to-heavy lift vehicle capable of delivering up to 33.5 tons to low Earth orbit in expendable mode or 23.5 tons with a reusable first stage, it’s positioned as a direct competitor to SpaceX’s Falcon 9 and Falcon Heavy.
With launch contracts worth nearly $3 billion, including deals with OneWeb and Intelsat, Relativity is clearly aiming for a top spot in commercial spaceflight. But until recently, the startup was in financial trouble: in 2024, according to Bloomberg, it struggled with cash flow and investment.
Schmidt, with a net worth of $34 billion, appears to be the company’s lifeline. While the exact size of his investment remains undisclosed, insiders say he has been backing Relativity since October 2024 and is now taking full control. His experience scaling Google from startup to global powerhouse, connections in Washington (including the Pentagon’s Innovation Board), and passion for cutting-edge tech make him the ideal candidate to launch Relativity into orbit.
Terran R is not just another rocket — it’s the embodiment of the company’s bold vision. After a partially successful launch of Terran 1 in 2023 — which reached space but didn’t achieve orbit — Relativity shifted focus to a larger, reusable launcher.
A video released on March 10 shows progress: the first “flight-ready” Terran R will be assembled this year, with the debut launch from Cape Canaveral. The first stage will be expendable initially, but Relativity hopes to scale to 50–100 launches per year in the near future.
Schmidt steps in at a time when the space race is heating up. Elon Musk’s SpaceX dominates with Falcon 9, Jeff Bezos’ Blue Origin is preparing New Glenn, and rivals like Rocket Lab and Firefly Aerospace are gaining momentum.
For Relativity, Schmidt brings not only financial stability, but a strategic leap forward. Can he turn the company into the industry’s next big player? The world is watching — breath held.
