Stockton Rush Net Worth: How Much Is Stockton Rush Worth? – Richard Stockton Rush III was an American engineer, pilot, and businessman. He was born on March 31, 1962, and was the co-founder and CEO of OceanGate.
Since childhood, Stockton Rush nurtured the dream of becoming an astronaut. He earned a commercial pilot’s license in 1980, at the age of 18, coinciding with his graduation from Phillips Exeter Academy.
However, due to limited vision, he focused on working as a flight test engineer for F-15 Eagle jets at McDonnell Douglas in Seattle. He continued to hone his piloting skills and earned his DC-8 Type/Captain rating from the United Airlines Jet Training Institute.
Rush’s quest for knowledge led him to Princeton University, where he graduated in 1984 with a degree in aerospace engineering. He then pursued graduate studies and earned a master’s degree in business administration from the University of California, Berkeley in 1989. In 2006, Rush embarked on an ambitious project to build a miniaturized submersible to explore the depths of Puget Sound. Using components purchased from a private company and plans provided by a retired U.S. Navy submarine commander, he painstakingly constructed a 12-foot-long vessel that could submerge up to 30 feet underwater. The endeavor demonstrated his ingenuity and passion for underwater exploration.
Rush believed that submersibles were unfairly considered dangerous vessels because of their association with commercial diving. He founded OceanGate in 2009 with Guillermo Söhnlein with the aim of revolutionizing underwater exploration and advancing the development of deep-diving submersibles. The company wanted to harness the potential of commercial tourism to support progress in various sectors, including resource extraction and disaster preparedness.
Rush’s commitment to scientific research and exploration was evident in his leadership. In 2018, he led an expedition to the San Juan Islands, working with researchers and scientists to study red sea urchin and sand lance habitat. In 2022, it launches a major expedition to explore the remains of the Titanic, encountering technical challenges during the exploration due to control issues.
The pioneering spirit of Richard Stockton Rush III, coupled with his technical expertise and entrepreneurial drive, had a profound impact on the fields of aviation and underwater exploration. His enduring legacy continues to inspire future generations to push the boundaries of human achievement in the pursuit of knowledge and discovery.
Rush was taking part in a remarkable expedition aboard the Titan, a submersible owned by OceanGate, Inc., to explore the strange wreck of the Titanic. However, tragedy struck when the submersible lost contact with the surface vessel MV Polar Prince on June 18, 2023. The sudden loss of communications triggered an immediate response, initiating search and rescue operations with maritime support and air from the United States, Canada and France, while several countries mobilized to locate the missing ship and its occupants.
A few days later, on June 22, an important discovery deepened the feeling of sadness and loss. A debris field was discovered approximately 490 meters from the bow of the Titanic. OceanGate, Inc. made a grim announcement expressing its belief that Rush and the four others aboard the submersible had tragically died. The devastating news reverberated throughout the maritime community and many mourned the loss of these brave souls.
Confirmation of the heartbreaking fate came during a celebratory U.S. Coast Guard news conference. Authorities acknowledged that the debris found was linked to a catastrophic event that resulted in the loss of the submersible’s pressurized hull. Unfortunately, it turned out that everyone on board had lost their lives during this deep-sea exploration.
Stockton Rush Net Worth: How Much is Stockton Rush Worth?
With a successful career as an engineer, pilot and entrepreneur, Richard Stockton Rush III has amassed a considerable fortune. He is estimated to have a net worth of over $20 million.
Rush’s journey to financial success can be attributed to his various businesses and accomplishments. As co-founder and CEO of OceanGate, he played an integral role in establishing the company as a major player in underwater exploration and diving technology.