Before World War II, wealthy individuals primarily financed telescopes, driven by a passion for astronomy. Post-war, funding shifted to government and academic institutions due to the skyrocketing costs of larger mirrors and the expensive nature of space-based telescopes. Recently, Eric Schmidt, the former Google CEO, and his wife, Wendy, announced a significant investment in four new telescope projects, collectively named the Schmidt Observatory System. They have not disclosed the exact amount, but estimates suggest their investment could be at least half a billion dollars. The centerpiece of their initiative is a space-based telescope called Lazuli, designed to be a more advanced version of the Hubble Space Telescope, which has been in operation for over thirty years. Wendy Schmidt emphasized their commitment to philanthropy that pushes the boundaries of research typically left unfunded by governments or private entities. The Schmidts aim to enable innovative scientific concepts that could enhance our understanding of the universe. Their funding signals a potential shift back to private investment in astronomical research, which may lead to significant advancements in astronomy and astrophysics.