Sir Peter Beck is living his dream heading one of the world’s most respected private space companies. Photo \/ Supplied<\/p>\n
\u2018That\u2019s life-changing\u2019<\/p>\n
The 49-year-old made Forbes\u2019 real-time billionaires list<\/a> earlier this month, but said Rocket Lab\u2019s greatest financial success wasn\u2019t making him a billionaire<\/a>. <\/p>\n His proudest moment came when Rocket Lab was listed on the Nasdaq in mid-2021 and many of his staff received life-changing windfalls for their work.<\/p>\n \u201cThe thing that\u2019s more fulfilling is all the millionaires you\u2019ve made along the way,\u201d he said.<\/p>\n \u201cWhen we went public, there were 150 Rocket Lab staff [who] became instant millionaires and many more since. If we do well, they do well.<\/p>\n \u201cAn extra billion here and there makes no difference to me. I\u2019ve had a lot of people… put their kids through school or pay off their mortgage… that\u2019s life changing.\u201d<\/p>\n The mission: a normal home life<\/p>\n Beck\u2019s mission for the company is clear: \u201cI\u2019m trying to build the biggest space company in the world, that\u2019s the plan.\u201d<\/p>\n His day begins at about 4.30am when he heads to his company\u2019s American HQ at Long Beach, California. He says work is on his mind until his bedtime around 10-11pm.<\/p>\n Beck leaves Rocket Lab HQ as close to 5pm as he can each day, he said, so he can have dinner with his wife, Kerryn, and their two children.<\/p>\n Beck met Kerryn \u2013 who is also a designer \u2013 years ago when they both worked at Fisher & Paykel.<\/p>\n The couple are deeply protective of their family, never authorising the publication of their children\u2019s photos, names or ages.<\/p>\n \u201cWe try and keep the kids out of the limelight,\u201d Beck told the Herald. \u201cThey are their own people.\u201d<\/p>\n He jokes that his workload means he \u201cprobably won\u2019t be winning any awards\u201d when it comes to being father of the year.<\/p>\n \u201cWe\u2019ll always sit around the dinner table,\u201d he said.<\/p>\n \u201cAnd then we\u2019ll all disappear off, I\u2019ll go back to work, my wife will go and do her thing, and the kids will go and do their thing. There\u2019s no sort of lounging around in front of a television; everybody\u2019s got missions and plans.\u201d<\/p>\n A space race with Musk and Bezos<\/p>\n Rocket Lab is valued at around $43b and last year had sales of almost $760 million.<\/p>\n The value of company shares on the Nasdaq this week fluctuated between US$67.65- US$64.70 ($116.05 -$112.67).<\/p>\n From its beginnings in June 2006, Rocket Lab has undertaken 75 orbital launches \u2013 including deploying more than 230 satellites \u2013 and is now a launch provider partner for Nasa.<\/p>\n While still launching from its initial pad at Mahia<\/a> \u2013 on the northeastern Hawke\u2019s Bay coastline – the company now has a second site in Virginia, and is considering a third base in Scotland.<\/p>\n The company\u2019s growth now sees it competing with Musk\u2019s SpaceX<\/a> and Bezos\u2019 Blue Origin in the private space race.<\/p>\n \u201cIt\u2019s incredibly competitive, not just in the United States, but globally,\u201d Beck told the Herald.<\/p>\n Need for speed: Fast cars and jets<\/p>\n The billionaire doesn\u2019t drink coffee, rarely wears a suit and avoids formal meetings whenever possible. <\/p>\n It\u2019s a rule of Rocket Lab meetings that if an attendee isn\u2019t adding value – they should leave.<\/p>\n \u201cI much prefer to just arrive at people\u2019s desks and have impromptu discussions than call formal meetings,\u201d he told the Herald. <\/p>\n Apart from family dinner, Beck\u2019s favourite way to unwind is to indulge his love of fast things: cars, choppers, planes and jets.<\/p>\n He owns a DeLorean sports car, a helicopter and a plane – an Aero L-39 Albatros ex-Ukrainian military fighter trainer jet with a top speed around 980km\/h.<\/p>\n \u201cThe only way I can really unwind is to put myself in a position where I can\u2019t think about anything other than what\u2019s at hand,\u201d he said.<\/p>\n \u201cNobody\u2019s going to be roaring around a race car track thinking about the separation systems of a rocket.<\/p>\n \u201cIt\u2019s a real escape to just walk out to a helicopter, go into a little bubble, and then for the time you\u2019re there, you\u2019re just 100% focused on that.\u201d<\/p>\n Mars missions and crewed flights<\/p>\n Free time gives Beck an escape from being consumed by all things Rocket Lab; like the pending launch of two spacecraft built for Nasa that are set to head to Mars next month.<\/p>\n Beck says when they reach Mars\u2019 orbit, 20% of all craft there \u201cwill have Rocket Lab logos\u201d.<\/p>\n The company is also hoping to achieve a late-2025 debut launch of its bigger Neutron rocket, capable of carrying a 13,000kg payload to low Earth orbit, or up to 1500kg for missions to the Moon or Mars.<\/p>\n Previous launches have used the Neutron rocket, which has a payload of about 300kg to the low Earth orbit.<\/p>\n Almost every part of a Neutron craft is made in New Zealand.<\/p>\n Its increased size means the rocket will be \u201chuman flight capable\u201d, and Beck said Rocket Lab \u201ccertainly\u201d hadn\u2019t ruled out taking human cargo into space one day.<\/p>\n \u201cAs more destinations arrive, then it will become obvious that there is a business case for that in the future,\u201d he said.<\/p>\n Given the hyper-competitive nature of the private space race, Beck has previously avoided revealing too much about the inner workings and hardware of Rocket Lab.<\/p>\n But in The Launch of Rocket Lab, Beck and members of his team have revealed previously-held secrets about some of its hardware, and a vast collection of images.<\/p>\n \u201cWe put a lot of pictures of hardware in there, almost uncomfortably so, because generally [we] don\u2019t show that level of detail,\u201d Beck told the Herald. \u201cBut our hardware is just so goddamn beautiful that people need to see it.\u201d<\/p>\n \u2018He needs more realistic expectations\u2019<\/p>\n In the opening paragraph of his introductory chapter, Beck recalls a high school career counsellor telling his parents: \u201cYour son needs to have more realistic expectations\u201d.<\/p>\n The rest his history. Three decades on, he is a multibillionaire<\/a>.<\/p>\n He hopes his story will inspire young Kiwis and other New Zealand entrepreneurs<\/a> to chase their dreams, he said.<\/p>\n \u201cI do a lot with New Zealand entrepreneurs,\u201d he told the Herald. \u201cAnd the number one thing I\u2018m always preaching is you\u2019ve got to think bigger.<\/p>\n \u201cIn New Zealand… the technology is always good. The efficiency of execution is always great.<\/p>\n \u201cBut often the thing that\u2019s missing is, \u2018I\u2019m just gonna take on the world and be the best in the world\u2019.\u201d<\/p>\n >> The Launch of Rocket Lab \u2013 published by HarperCollins \u2013 is released on October 28, with a RRP of $75.<\/p>\nWhen Rocket Lab lifted off when it was publicly listed on the Nasdaq, about 150 staff became millionaires. Photo \/ Supplied<\/p>\n
Kerryn Beck (fifth from left) pictured next to her husband Sir Peter Beck, pictured in the rare wearing of a suit. Photo \/ Supplied<\/p>\n
Kiwi V8 Supercar legend Greg Murphy (left) and Sir Peter Beck pictured in front of the Rocket Lab founder and chief executive’s DeLorean sports car. Photo \/ Supplied<\/p>\n
Two rockets on launch pads at Rocket Lab\u2019s Mahia spaceport on Hawke’s Bay’s coastline. Photo \/ Rocket Lab<\/p>\n
Sir Peter Beck wore a suit to meet King Charles along with other space industry leaders. Photo \/ Supplied<\/p>\n
The world’s richest man, Elon Musk, is a competitor of Sir Peter Beck and Rocket Lab in the private space race. Photo \/ Getty Images<\/p>\n
Sir Peter Beck says there is mutual respect between Jeff Bezos (second from left) and him. Photo \/ Getty Images<\/p>\n
Rocket Lab shares have soared on the Nasdaq, especially over the past 12 months. Photo \/ Supplied<\/p>\n
Rocket Lab founder and CEO Peter Beck is no big fan of formal dress or meetings. Photo \/ Supplied<\/p>\n
Sir Peter Beck with General Stephen Whiting, Commander of the US Department of Defence\u2019s Space Command. Photo \/ Supplied<\/p>\n
An Aero L-39 Albatros fighter jet similar to the one that Sir Peter Beck owns and flies for relaxation. Photo \/ NZME<\/p>\n
The incredibly story of Sir Peter Beck and his Rocket Lab company is told in a new release, The Launch of Rocket Lab. Photo \/ Supplied<\/p>\n