The co-founder and CEO of the deep-sea exploration and manned submersible technologies company Ocean Gate Inc. is Stockton Rush. He has significantly influenced the development of cutting-edge submersibles that can explore the ocean’s depths and aid in scientific research, practical applications, and exploratory activities.
On June 18, 2023, American engineer and entrepreneur Richard Stockton Rush III passed away. His birthday is March 31, 1962. He was most recognized for co-founding and serving as CEO of the deep-sea exploration company OceanGate.
After graduating from Princeton University, Rush worked for McDonnell Douglas as a flight test engineer on the F-15 project. Afterward, he had a number of posts at the Museum of Flight and Blue View Technologies.
Early Life and Education
Rush was born on March 31, 1962, into a wealthy household in San Francisco, California. He was the youngest of five kids born to Richard Stockton Rush Jr. in Philadelphia, Pennsylvania, and San Francisco, California. His maternal grandfather was Ralph K. Davies. His philanthropic maternal grandmother Louise Davies is honored by having her name engraved on the Louise M. Davies Symphony Hall in San Francisco.
Via his father, he was a direct descendant of both physician Benjamin Rush and Richard Stockton, another signer of the Declaration of Independence. When he was younger, he had an interest in aviation and aquatics and had dreams of becoming an astronaut and the first person to step foot on Mars. He began scuba diving when he was 12 years old, and when he became 18, he transitioned to commercial flight after learning that his visual acuity would prevent him from flying for the military.
After graduating from Princeton, Rush briefly worked as a flight test engineer for McDonnell Douglas before pursuing his MBA. Subsequently, Rush worked in San Francisco for Peregrine Partners as a venture capitalist. In order to run the Kirkland, Washington-based company Remote Control Technology, he moved to the Northwest in 1989. He apparently built an experimental plane later that year, which he continued to fly for the remainder of his life.
In 2007, Rush first considered the idea of launching his own submarine company. He believed that the market for underwater ocean tourism would be enormous and that it would provide an alternative to the lengthy training period and specialized gear required for scuba diving. In 2009, Guillermo Söhnlein and Rush founded Ocean Gate.
Stockton Rush’s net worth: As of 2023, it was projected that Stockton Rush was worth $25 million. Based on his pay as CEO of Ocean Gate Corporation, his family’s financial status, and his level of aeronautical engineering proficiency, this estimate was created. Yet nobody knows what his actual wealth is. He was the company’s founder and CEO. Ocean Gate Expeditions takes submersibles to destinations beneath the sea, including the Titanic.
Furthermore, Stockton was related to both Benjamin Rush and Richard Stockton, who both signed the Declaration of Independence. The fact that Stockton Rush probably had a net worth of more than $25 million at the time of his passing must be kept in mind, though. Ocean Gate Expeditions had a market worth of $66 million in 2022.
Incident Happened to Stockton Rush
Ocean Gate Expeditions sent a submersible to the Titanic wreck on June 18, 2023. The wreck is located around 900 nautical miles east of Cape Cod, Massachusetts. Stockton Rush, CEO of Ocean Gate, was one of the five people who were both passengers and crew members on board the ship.
The submersible was sent out, but it didn’t come back when it was supposed to. The U.S. Coast Guard started a search and rescue effort to find the missing research submarine. Stockton Rush, 59-year-old British businessman Hamish Harding, and French submarine pilot Paul Henry Wargolet are all said to be missing, according to news reports.
Stockton Rush, the CEO of Ocean Gate Expeditions, reportedly has a net worth of $25 million. His net worth may have increased due to his family’s wealth and expertise in aircraft engineering. Rush’s submarine, the Titan, capsized in the Atlantic Ocean in June 2023, yet it is still unknown what caused his demise. The U.S. Coast Guard is currently looking for the missing research submarine that is believed to be carrying Stockton Rush, French submarine pilot Paul-Henry Nargeolet, and British millionaire Hamish Harding.