Amazon owner, Jeff Bezos, who is the world’s richest man and a successful billionaire entrepreneur, on Monday said that he is planning to increase his annual investment in his aerospace company, Blue Origin. Jeff Bezos launched the company in the year 2000.

According to Forbes magazine, Bezos net worth is estimated at around USD 145 billion, largely due to his shares in Amazon. And regarding his investments in Blue Origin, he spends almost a billion dollar per year.

“Next year, it’ll be a little more – I just got that news from the team, recently,” Bezos said at the Wired 25th anniversary summit in San Francisco. “I always say yes – I’m, like, the worst.”

Blue Origin is all about developing and encouraging space tourism for which it develops rockets for satellite launches and space exploration, which is quite similar to what Elon Musk is doing for SpaceX.

However, SpaceX is said to be ahead due to the fact that the company has been in operational in the rocket race for a total of six years already.

Along with being the CEO of the Amazon company, Bezos also owns the newspaper ‘The Washington Post’.

“We need the same dynamism in space that we’ve seen online over the last 25 years,” he explained, saying he had aimed to help launch a new age in space exploration. “We can do that – we need reusable space vehicles.”

The stated goal of Blue Origin which is similar to that of SpaceX, is to lower the overall cost of space launches and this will become the next logical innovation after the work done by the US space agency NASA, the Soviet Union and others.

Earlier to that, the rockets used in the Golden Era space programs were destroyed after their re-entry into the Earth’s atmosphere. But both the new companies, Origin and SpaceX are working on developing recyclable rockets so that the same may be used for launch and landings both on the Earth as well as space ventures.

The New Glenn rocket developed by Blue Origin, is named after a pioneering astronaut John Glenn and it is not expected to be ready before the year 2021.

The smaller rocket ‘New Shepard’ – named after Alan Shepard, who was the first American to step into space, is designed to take a total of about six passengers past the so-called Karman line, which is recognized as the international boundary of space. This will allow the passengers to experience weightlessness.

Some important tests carried out this year proved to be successful and the may make it ready by the year 2019. Bezos says. In the field of space tourism, Blue Origin is posing a competition to the Virgin Galactic.

“I keep telling the team – it’s not a race,” Bezos said. “I want this to be the safest space vehicle in the history of space vehicles.”

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