The latest billionaire to signal his interest in the space travel industry is former Google CEO Eric Schmidt. The wealthy tech magnate has joined a relatively under-the-radar rocket startup, Relativity Space, as the company’s new head executive.

Eric Schmidt, who was the CEO of Google from 2001 to 2011, is now the CEO of rocket startup Relativity Space, a company spokesperson confirmed to TechCrunch. Schmidt will be replacing Relativity Space co-founder Tim Ellis in the CEO role.

Ex-Google CEO Eric Schmidt is taking over as CEO of rocket startup Relativity Space, which has ambitions to reach Mars.

Eric Schmidt has acquired a control stake in Relativity Space, a Long Beach, Calif.-based rocket maker, and taken over as CEO. Why it matters: This will be Schmidt's first CEO job since leaving Google's top post more than 14 years ago,

Former Google CEO Eric Schmidt is taking over as the CEO of Relativity Space, a 9-year-old rocket startup, a company spokesperson confirmed in a statement