Insider Brief
- Former Google CEO Eric Schmidt has taken control of Relativity Space as its new chief executive, providing substantial financial backing at a critical moment for the 3D-printed rocket startup.
- Schmidt replaces co-founder Tim Ellis, who will remain on the board, as the company focuses on developing the reusable Terran R rocket, set for a 2026 debut with nearly $3 billion in launch contracts.
- Relativity Space, which uses 3D printing, automation, and AI for rocket manufacturing, has faced funding challenges, and Schmidt’s leadership and investment could provide stability as it competes with SpaceX and other launch providers.
Eric Schmidt, former Google CEO, is taking control of Relativity Space, a 3D-printed rocket startup, as its new chief executive. He also will reportedly provide “substantial financial backing”.
The move marks Schmidt’s first CEO role since leaving Google nearly 15 years ago and signals a new phase for the nine-year-old space company.
Schmidt has made a significant investment in Relativity Space, securing a controlling stake in the firm, according to TechCrunch. He replaces co-founder Tim Ellis, who announced the transition in a LinkedIn post, stating he would continue supporting Schmidt and the company as a co-founder and board member.
“I know there’s no one more tenacious or passionate to propel this dream forward,” Ellis wrote.
Founded in 2015, Relativity Space has pursued an ambitious vision of manufacturing reusable rockets using 3D-printing, automation, and artificial intelligence. The company launched its first-ever 3D-printed rocket, Terran 1, in 2023. Though the rocket failed to reach orbit, the launch demonstrated the viability of Relativity’s additive manufacturing approach. Shortly after, the company shifted focus to the larger, reusable Terran R, aimed at competing with SpaceX’s Falcon 9 and Falcon Heavy.
Relativity Space has signed nearly $3 billion in launch contracts for Terran R, according to The New York Times. The rocket is set to debut in 2026, a high-stakes milestone that could determine the company’s future in the fiercely competitive launch sector. TechCrunch noted that Schmidt’s financial backing and leadership come at a critical time, as the company navigates funding challenges and prepares for its next launch.
Tech Executives Entering Space Sector
Schmidt’s appointment follows a broader trend of experienced tech executives entering the commercial space sector. During his tenure as Google’s CEO from 2001 to 2011, Schmidt oversaw the search giant’s rapid expansion and helped it become one of the world’s most valuable technology firms. At Relativity, he is expected to bring both capital and strategic oversight, along with connections in Washington, D.C., that could facilitate government partnerships.
Relativity has previously struggled with funding shortfalls, Bloomberg reported. Despite raising significant capital from investors such as Mark Cuban, BlackRock, and Fidelity, the company faced financial challenges in 2024. Schmidt’s investment could provide much-needed stability, allowing Relativity to continue scaling its operations and meeting contractual obligations.
Ellis, who co-founded the company with Jordan Noone, reflected on Relativity’s journey in his LinkedIn post, recalling its origins as an idea scribbled on a Starbucks receipt.
Ellis writes: “Nine years ago, we scribbled Relativity’s wild vision on the back of a Starbucks receipt, never imagining how many incredible people would believe, join, invest in us, and work incredibly hard to build this company despite the risks. From first-ever 3D-printed rockets launched into space, to the next-generation reusable Terran R flight hardware now being built, it’s been awe-inspiring and profoundly humbling.”
The Bigger Picture
Relativity’s use of 3D printing in rocket manufacturing has set it apart from traditional aerospace firms. The company’s proprietary technology enables rapid production and iteration, potentially lowering costs and increasing flexibility in design. However, execution remains a challenge, as demonstrated by Terran 1’s failed orbital attempt.
Schmidt’s leadership will be tested at a critical moment for the rocket company as he transitions from software and artificial intelligence to the capital-intensive world of rocketry, TechCrunch suggests. His experience in scaling tech startups and navigating regulatory landscapes may help Relativity position itself as a serious contender against industry heavyweights such as SpaceX, Rocket Lab, and Blue Origin.
Relativity previously announced plans to launch the first private space mission to Mars by 2024, though delays have pushed back such ambitions. With Schmidt at the helm, the company’s immediate focus remains on getting Terran R off the ground and proving its technology can compete in the commercial launch market.
Schmidt’s entry into the space industry also comes amid growing investor interest in commercial space ventures. As private companies increasingly take on roles traditionally held by governments, leadership transitions like this one highlight the sector’s evolving landscape — and its increasing important position as an enabling technology.
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