Jeff Bezos just experienced a very costly mistake. The founder of Amazon, who is worth some $278.2 billion, watched his Blue Origin rocket go up in flames.
On Thursday, May 28, the private space technology company founded by Jeff tested a rocket at the Cape Canaveral Space Force Station in Florida, and things didn't go to plan. At 9 p.m., the rocket exploded, sending clouds of fire into the sky.
Jeff addressed the explosion in a post on X, writing: "All personnel are accounted for and safe. It's too early to know the root cause but we're already working to find it. Very rough day, but we'll rebuild whatever needs rebuilding and get back to flying. It's worth it."
© InstagramHow much did Jeff Bezos lose after the Blue Origin rocket explosion?
The tech founder has poured in some $28 billion of his own wealth into Blue Origin. The manufacturing of the 320-foot-tall New Glenn rocket cost roughly $2.5 billion, and the space technology company revealed each launch costs between $68 million to $100 million.
While Blue Origin officials didn't share exactly how much was lost, they did spend more than $1 billion to rebuild Launch Complex 36.
© Getty ImagesWhy did the Blue Origin rocket explode?
The space technology said the New Glenn rocket exploded during an engine-firing test being conducted before a satellite launch planned for next week. This wasn't the first issue with the rocket. In April, it was grounded after it left a satellite in the wrong orbit because of engine failure.
Blue Origin had been on track to launch a prototype lunar lander to the moon on a flight test this fall. Earlier this week, Nasa awarded the company a contract worth hundreds of millions of dollars to launch a pair of moon buggies in the next few years as part of the Artemis program.
After the explosion, Nasa Administrator Jared Isaacman said on X: "Spaceflight is unforgiving, and developing new heavy-lift launch capability is extraordinarily difficult." He wasn't the only person to comment on the Blue Origin explosion.
© Getty ImagesJeff's fellow billionaire and owner of SpaceX, Elon Musk, wrote on X: "Sorry to see this, I hope you recover quickly." The South African's company experienced its own set back on May 23, when its Starship V3 exploded during its landing in the Indian Ocean.
Blue Origin's successes
While Jeff and Blue Origin watched their rocket go up in flames on May 28, the space technology company has experienced recent successes. On Tuesday, May 26, Nasa announced their plans to construct a $20 billion moon base and that they chose Blue Origin to conduct the first lunar mission.
© Joe Raedle"People are looking up again, believing in big things again, and paying attention as America returns to the moon again, and this time to stay," Jason said at a press conference announcing their decision.
Now, Blue Origin just needs to make sure their next rocket doesn't explode.
