Billionaire entrepreneur said he is selling $1 billion in stock of his retail giant Amazon each year to finance his , , which aims to carry tourists to space by 2018.

Speaking at the 33rd in , , Bezos vowed to lower the cost of and start taking customers to space by next year.

The entrepreneur did not say how much a ticket would cost, as he showed off the New Shepard rocket and a mock-up of the large-windowed capsule that tourists will one day ride to suborbital space — just past the some 62 miles (100 kilometers) above Earth — and back.

Nor did he say how much of his own personal fortune — estimated around $75 billion — he has poured into Blue Origin, which is building a reusable rocket and is seen as a competitor to internet mogul Elon Musk’s SpaceX.

Bezos did say that the next-generation New Glenn rocket, which would be powerful enough to reach orbit and is expected to start flying satellites by 2020, is expected to cost $2.5 billion to develop. Bezos, a lifelong , founded Blue Origin in 2000. (AFP)

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Billionaire entrepreneur Jeff Bezos said he is selling $1 billion in stock of his retail giant Amazon each year to finance his rocket company, Blue Origin, which aims to carry tourists to space by 2018. Speaking at the 33rd Space Symposium in Colorado Springs, Colorado, Bezos vowed to lower the...
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