Private Investors Fund $500 Million Telescope Larger Than Hubble

For nearly 80 years, the most ambitious telescopes have been built by governments. That era may be ending.

In January 2026, at the American Astronomical Society's annual winter meeting in Phoenix, Arizona, former Google CEO Eric Schmidt and his wife Wendy unveiled one of the most audacious private science projects ever attempted: a suite of four observatories — including a space telescope larger than the Hubble — to be built and operational within roughly three years, all funded entirely with private money [1][2][3].

The announcement sent shockwaves through the astronomy community. The flagship of the system, a space telescope called Lazuli, would carry a 3-meter primary mirror into a lunar-resonant orbit, giving it 70 percent more light-collecting area than Hubble — all for an estimated $500 million, a fraction of what NASA's flagship missions cost [4][5]. It represents the first full-scale, privately funded space observatory in history, and it is forcing a reckoning about how humanity funds its most fundamental scientific questions.

The Schmidt Observatory System: Four Telescopes, One Vision

The Eric and Wendy Schmidt Observatory System encompasses not just Lazuli but three ground-based facilities, each designed to push the boundaries of what's possible in observational astronomy [3][6].

Lazuli Space Observatory is the crown jewel: a 4,000-kilogram spacecraft housing a 3-meter off-axis three-mirror anastigmat telescope. It will carry three instruments — a wide-field context camera with 23 CMOS detectors covering 350 to 1,000 nanometers, an integral field spectrograph operating from 400 to 1,700 nanometers, and a coronagraph capable of achieving raw contrasts of 10⁻⁸ to directly image exoplanets around sun-like stars [7]. Operating in a 3:1 lunar-resonant orbit with a 9-day period, Lazuli can slew to targets of opportunity within four hours — with a goal of 90 minutes — a capability that dwarfs Hubble's multi-day repositioning timeline [7][4].

The Argus Array, led by Nicholas Law at the University of North Carolina, will combine more than 1,200 small telescopes — each with an 11-inch mirror — to function as a single instrument with the collecting area of an 8-meter telescope. Its staggering 8,000-square-degree field of view will allow it to image the entire visible Northern sky in seconds, making it a powerful tool for detecting transient phenomena like supernovae and gravitational wave counterparts [3][6][8].

The Deep Synoptic Array (DSA), directed by Gregg Hallinan at Caltech, consists of 1,656 radio dishes spread across a 20-by-16-kilometer site in a radio-quiet valley in Nevada. The array could potentially double the known catalog of 10 million radio sources in its first day of full operation, revealing hidden black holes and dust-obscured galaxy centers [6][8].

The Large Fiber Array Spectroscopic Telescope (LFAST), based at the University of Arizona, will use 20 modular optical units equivalent to a 3.5-meter mirror housed in compact "mini domes" designed to dramatically reduce operational costs, providing follow-up spectroscopy for survey targets [6][8].

All four facilities aim to be operational and conducting science by 2029, with the Argus Array targeting first light as early as 2027 and Lazuli undergoing a preliminary design review in early 2026 ahead of a targeted mid-2028 launch [3][8].

A $500 Million Telescope in a $10 Billion World

To understand why the Lazuli announcement was so jarring, consider the context.

Source: NASA / Schmidt Sciences / Planetary Society / Wikipedia

Data as of Mar 10, 2026CSV

NASA's James Webb Space Telescope, which launched in 2021, cost approximately $10 billion — nearly ten times its original $1 billion estimate — and took over two decades to develop [9][10]. The Hubble Space Telescope, factoring in its entire operational life since 1977, has cost roughly $16 billion in inflation-adjusted dollars [10]. NASA's upcoming Nancy Grace Roman Space Telescope carries a $4.3 billion lifecycle price tag [11]. And the Habitable Worlds Observatory (HWO), the next flagship mission recommended by the National Academies' Decadal Survey, is estimated at $11 billion with a proposed launch date of 2041 — fifteen years from now [12].

Against this backdrop, Schmidt Sciences claims it can put a telescope with a larger mirror than Hubble into deep space for roughly $500 million in roughly three years. "We're going to do it in three years, and we're going to do it for a ridiculously low price," said Pete Klupar, Lazuli's project director [8].

How? Several converging factors make this possible. The ever-shrinking cost of launch services — driven primarily by SpaceX's reusable rockets — means getting mass to orbit is orders of magnitude cheaper than during the Hubble era [4][8]. Schmidt Sciences has deliberately adopted a design philosophy that leverages cheaper, commercially available off-the-shelf components, including commodity CMOS detectors rather than bespoke space-rated sensors [7]. And critically, as a private venture, Lazuli is unburdened by the multi-layered review processes, political negotiations over facility locations, and multi-decade timelines that characterize NASA flagship missions [1][2].

But there is a crucial caveat. Lazuli is not attempting to match the capabilities of JWST, which operates in infrared from a perch at the L2 Lagrange point 1.5 million kilometers from Earth, with a 6.5-meter segmented mirror [10]. Lazuli operates primarily in optical and near-infrared wavelengths and is better understood as a complementary instrument — one that can respond rapidly to transient events and directly image exoplanets around nearby stars in ways that fill gaps left by existing observatories [7].

The Return of the Private Patron

The Lazuli project represents the most dramatic example of a broader trend: the return of private philanthropy to the front lines of astronomy, after an 80-year hiatus.

Before World War II, privately funded observatories drove much of humanity's understanding of the cosmos. Edwin Hubble made his universe-expanding discoveries at the Mount Wilson Observatory, funded by the Carnegie Institution. Industrialist James Lick bankrolled the construction of what was, in 1888, the world's largest refracting telescope. Percival Lowell built his own mountaintop observatory in Arizona to search for signs of life on Mars [1][2].

The postwar era shifted this model dramatically. Government agencies — NASA, the National Science Foundation, the European Space Agency — became the dominant funders of astronomical research. The scale and cost of modern instruments seemed to place them beyond the reach of private wealth [1].

But that calculus has changed. Eric Schmidt's personal net worth is estimated at roughly $36 to $54 billion, depending on the source [13]. The $500 million price tag for Lazuli, while staggering in absolute terms, represents approximately 1 percent of his wealth. Schmidt Sciences, the philanthropic organization he and Wendy Schmidt built, has previously funded the Schmidt Ocean Institute (which operates a research vessel available to scientists at no cost), the AI2050 initiative ($125 million for responsible AI research), and numerous other science and technology programs [13][14].

The Schmidts are not alone in this trend. The Gordon and Betty Moore Foundation has committed $250 million toward the Thirty Meter Telescope. Bill Gates and the Charles and Lisa Simonyi Fund donated $30 million toward the Vera C. Rubin Observatory in Chile [1]. But all of those have been public-private partnerships. What sets the Schmidt Observatory System apart is its fully private funding model.

The Promise — and the Peril — of Private Science

The announcement has catalyzed a sharp debate within the astronomy community about the appropriate role of private money in fundamental science.

Supporters see transformative potential. Heidi Hammel, vice president for science at the Association of Universities for Research in Astronomy, has said Lazuli could demonstrate "a new, complementary model for accomplishing ambitious space science projects" [2]. Radio astronomer Melodie Kao noted that "we need a combination of private and public funding for science because they do different things and move at different speeds" [2].

The advantages are tangible. Private funding can move faster, take more risks, and avoid the political entanglements that have derailed or delayed government-funded projects. The Thirty Meter Telescope, for example, has been stalled for years by disputes over its proposed site on Mauna Kea in Hawaii. JWST's budget ballooned by a factor of ten over two decades. The Habitable Worlds Observatory won't launch until 2041 at the earliest [12]. By contrast, Schmidt Sciences aims to have Lazuli in orbit by 2028 [3].

But critics raise legitimate concerns. Some researchers worry about who will control access to the facilities and data. Others fear that a major influx of private money could give political cover for further cuts to taxpayer-funded astronomy, effectively allowing billionaires to set the scientific agenda [2][1].

Schmidt Sciences has taken steps to address these concerns. The organization has committed to an open data model with no reserved time for particular institutions, research groups, or nationalities. Observation time will be allocated on a merit basis, with proposals open to anyone [2][4]. Science-ready data products will be released to the global community within days of observation [4].

Still, the fundamental tension remains. A telescope funded by a billionaire, no matter how open its data policy, exists at the pleasure of that billionaire. Government-funded science, for all its inefficiencies, carries a democratic accountability that private philanthropy does not. If Schmidt Sciences were to shift priorities, reduce funding, or dissolve, the observatories could face an uncertain future — a risk that doesn't apply to institutions backed by ongoing government appropriations.

What Lazuli Could Discover

The scientific case for Lazuli is compelling. Its coronagraph — designed to achieve post-processed contrasts approaching 10⁻⁹ — could directly image planets orbiting sun-like stars and analyze their atmospheres for biosignatures, a capability that will complement NASA's Roman Space Telescope and serve as a technological pathfinder for the Habitable Worlds Observatory [7][12].

Its rapid-response capability transforms it into what amounts to an astronomical first responder. When gravitational wave detectors like LIGO or the forthcoming LISA mission detect a neutron star merger, Lazuli could pivot to observe the electromagnetic counterpart within minutes to hours rather than the days currently required — capturing the critical early phases of these cataclysmic events [7].

The wide-field camera, with its complement of 23 CMOS detectors and continuous observation capability of up to 12 hours per target, is designed to tackle some of the deepest questions in cosmology. Among its targets: the Hubble Tension, the persistent discrepancy between different measurements of the universe's expansion rate that has become one of the most pressing puzzles in modern physics [7][8].

Source: NASA / Schmidt Sciences / ESA

Data as of Mar 10, 2026CSV

Working in concert, the four Schmidt observatories create a multi-wavelength observation system spanning optical, near-infrared, and radio wavelengths. When the Argus Array detects a transient event in its vast survey of the Northern sky, it can trigger Lazuli to follow up from space while the DSA provides radio observations — all within hours [6][8].

The Bigger Picture: A New Model for Big Science?

The Schmidt Observatory System arrives at a fraught moment for government-funded science. In the United States, NASA's astrophysics budget has faced repeated pressure, with both the Hubble and JWST facing potential reductions in operations over funding shortfalls [15]. The Habitable Worlds Observatory, while endorsed by the Decadal Survey, has no guaranteed funding path and faces the same political vulnerability as every long-horizon government program.

Against this backdrop, Lazuli represents both an opportunity and a warning sign. If it succeeds — delivering a Hubble-class space telescope in three years for 5 percent of what JWST cost — it could fundamentally alter expectations for what space science projects should cost and how long they should take. It could demonstrate that the commercial space revolution, which has already transformed launch services and satellite communications, can be extended to fundamental science.

But if it falters — if the aggressive timeline slips, costs escalate, or the instruments underperform — it could reinforce the argument that only government agencies have the institutional depth and sustained commitment to deliver flagship-class science missions.

Either way, the announcement has already achieved something remarkable: it has forced a long-overdue conversation about why space telescopes cost what they cost, why they take as long as they take, and whether there might be a better way. In an era when a single individual can fund an instrument that rivals what the world's most powerful space agency has built, the old assumptions about who gets to explore the universe — and who gets to decide what we look for — are being rewritten in real time.