Amazon's substantial investment in Blue Origin reached approximately $1.8 billion last year, significantly up from $578 million the previous year. This surge is part of the tech giant's initiative to enhance its low-Earth orbit satellite constellation, known as Amazon Leo, which aims to provide broadband internet services. Currently, the company has successfully deployed 243 satellites and is seeking an extension from the FCC to meet its launch targets.
Amid this financial commitment, shareholders are evaluating a proposal from the AFL-CIO Reserve Fund for a mandatory independent board chair, citing potential conflicts due to Jeff Bezos's other business interests, including his role in the AI startup Project Prometheus. Although Bezos stepped down as CEO in 2021, he continues as executive chairman.
In addition to its dealings with Blue Origin, Amazon has also established launch agreements with United Launch Alliance and Arianespace, and has utilized SpaceX's Falcon 9 for certain missions. Recently, Amazon announced a $10.8 billion acquisition of Globalstar, a satellite operator, highlighting its aggressive strategy in the satellite sector.