While Jeff Bezos has spent $14 billion to achieve his first space launch, his billionaire rival has built a thriving business, mostly with other people’s money.

Blue Origin and SpaceX both launched rockets on 16 January, but while Jeff Bezos' company saw a launch success with New Glenn, Elon Musk's Starship exploded. What does this mean for the future of the space industry?

The billionaire space race entered a new phase today when Jeff Bezos’ Blue Origin successfully launched its 320-foot-tall New Glenn rocket from Cape Canaveral in Florida.

Spectators on Saturday watched as Jacklyn, Blue Origin's rocket landing vessel, returned to Port Canaveral just as it left.

Rough seas caused Blue Origin to hold off a planned early Friday launch attempt with is debut of New Glenn, which is now targeting early Sunday instead. SpaceX, though, managed liftoff later Friday with a booster flying for a record 25th time.

The heavy-lift New Glenn rocket reached orbit during its maiden flight on Thursday, bringing Blue Origin, a private company founded by billionaire Jeff Bezos, one step closer to competing with launch titan SpaceX.

Blue Origin successfully launched the rocket after an attempt earlier in the week was scrubbed. The flight is a crucial test of the company’s ability to compete with Elon Musk’s SpaceX.

A new space race is taking place and Jeff Bezos’ Blue Origin just made the latest move as rival Elon Musk’s SpaceX prepares for its own launch.

The Amazon founder’s space company marked a major milestone Thursday with the first test flight of its New Glenn rocket.

The uncrewed New Glenn rocket took off at 2:03 a.m. EST from Complex 36 at Cape Canaveral Space Force Station, Blue Origin said.

Watch as Amazon boss Jeff Bezos's Blue Origin attempted to launch its New Glenn rocket for the first time from Cape Canaveral, Florida, on Monday, 13 January. It was to be the long-delayed debut launch of Mr Bezos's challenge to SpaceX's dominance in the satellite launch market.