Relativity Space Names Eric Schmidt CEO Following Major Investment

Eric Schmidt, former CEO of Google, has been appointed as the chief executive of Relativity Space, a nine-year-old rocket startup. Schmidt’s appointment follows his significant investment in the company, securing a controlling stake, as first reported by The New York Times. This marks his first CEO position since leaving Google nearly 15 years ago.

Schmidt replaces Tim Ellis, co-founder of Relativity Space, who will remain involved as a board director. The leadership change comes as the company prepares for the 2026 launch of Terran R, a reusable rocket designed to compete with SpaceX’s Falcon 9 and Falcon Heavy. 

Relativity Space has secured nearly $3 billion in launch contracts ahead of Terran R’s debut.

Founded in Long Beach, California, Relativity Space is known for using 3D printing, automated robotics, and artificial intelligence in rocket production. In 2023, the company launched its Terran 1 rocket, demonstrating its technology but failing to reach orbit. Shortly after, it discontinued Terran 1 to focus on Terran R’s development.

The company reportedly faced financial challenges in 2024, with difficulties raising additional funding. Investors in Relativity Space have included Mark Cuban, BlackRock, and Fidelity Investments. Schmidt’s financial resources and industry connections, particularly in Washington, DC, may assist the company in securing partnerships and regulatory support.

Previously, Schmidt led Google from 2001 to 2011, guiding the company’s expansion. His transition to the space sector places him in competition with firms such as SpaceX, Rocket Lab, and Blue Origin. His leadership at Relativity Space comes at a crucial time as the company advances toward its next phase of rocket development and commercial launches.