Blue Origin raises first outside capital at $140 billion valuation

Documents project revenue exceeding $30 billion by 2030

Documents reviewed by The Wall Street Journal show Jeff Bezos has funded Blue Origin almost entirely himself since founding the company in 2000. The company has grown into a large space enterprise with sites around the country, roughly 15,000 employees and an ambitious growth plan.

People familiar with the matter said the funding round could close with more than the $10 billion initially targeted. Bezos’s personal net worth stood at $275 billion in late September, according to the Bloomberg Billionaires Index, with much of his fortune derived from his transformation of Amazon into an e-commerce and cloud-computing giant. He has sold Amazon shares over the years to fund Blue Origin.

Blue Origin has tightened its operations in recent years. The company conducted a major layoff last year and stopped suborbital tourism flights. Chief Executive Dave Limp, who took the job almost three years ago, has emphasized accelerating missions and technical development at the company as it seeks to deliver for customers including NASA, according to the documents.

In 2025, Blue Origin generated $800 million in revenue, according to the documents reviewed by the Journal. Internal projections show the company expects revenue of about $1.4 billion this year and more than $30 billion by 2030. Projected 2030 revenue would flow from a satellite-communications business that has not yet launched any devices to orbit, a planned fleet of artificial-intelligence satellites and a large share from demand for rocket launches, the documents say.

Across its business lines, Blue Origin competes with a range of rocket operators and satellite and spacecraft firms, the documents show. Its chief rival is SpaceX. Blue Origin, according to the documents, plans to narrow SpaceX’s lead with its New Glenn vehicles — a heavy-lift rocket with a reusable booster.

Blue Origin has flown New Glenn on three missions. The rocket has not flown since one vehicle exploded on a launchpad in Florida in May, and the company is redeveloping the complex.

Asked last year about competition in the space industry, Bezos said there was room for multiple winners.

“SpaceX is going to be successful. Blue Origin is going to be successful. And there’s some company out there right now that hasn’t even been founded yet that is also going to be successful,” Bezos said at the time.