Late American businessman, millionaire, and co-founder and CEO of the company that has taken over all forms of media, OceanGate, Stockton Rush, took pride in his company and the fact that his company was one of the few offering a deep-sea exploration and a tour of the wreck of Titanic. The sixty-one-year-old was recently in the news along with the four others aboard his submersible, Titan, which imploded two hours into the dive on its way to Titanic.
Stockton Rush was the youngest of his five siblings and was actually born into a well-off family and grew up with big dreams that he wished to achieve. He started off with scuba diving at a young age, then moved to want to become a military pilot, which he could not do because of troubles in his vision, though his interest in the aquatic world and aviation would continue to grow.
Rush got his degree in aerospace engineering from Princeton University and then went on to get a Master’s in business administration in Berkeley from the University of California. Before setting up his own company, Rush got a lot of experience from other successful business ventures till 2006, when during one of his scuba diving sessions, he got the idea of getting into deep-sea exploration.
His prized possession, OceanGate, was founded with the help of another man named Guillermo Sohnlein all the way back in 2009. Even after knowing that the market for deep-sea tourism was barely flourishing and existing, he pushed the idea and, even before his death, managed to visit the decaying site of the Titanic wreck.
Rush was married to his wife, Wendy Rush, who happens to be the great-great-granddaughter of two of the passengers on board the Titanic. The couple also have two kids together.
Stockton Rush’s Net Worth
The late CEO of OceanGate, Stockton Rush, is estimated to have a net worth of around $12 million. He may not have started from the bottom, but Rush definitely had a good experience working under and with other companies, which eventually helped him come around to founding OceanGate.
His company is one of the few that offered ocean exploration as a form of tourism, and considering the fact this is definitely something the rich would do, they could charge a hefty amount for it.
Rush’s wealth and money have been around for quite some time. A surprising fact is that he is the descendant of two of the founding fathers of America who signed the Declaration of Independence. He has family money and money that is associated with his company, OceanGate, all of which add immensely to his worth.
He started his career first at Peregrine Partners, a company based in San Francisco, after which he turned to another company called Remote Control Technology located in Washington, and it was after this that Rush found himself on his first submarine, which took him deep into the ocean for the first time ever. It was only after this that he decided to permanently put his feet into the business.
Since the founding of his company, Rush has been to the site of the Titanic wreck a total of thirteen times, with the recent one turning out to be his last, unfortunately. Adding his generational wealth and the fact that his company is placed at a worth of $66 million, Rush must have had stocks of his own which would amount to a whole different number.
It has to be noted that he started his deep-sea exploration part of the businesses in 2021 and has been since then taking and bringing back many from a trip to the unknown. The company charges close to $250,000 per person if they wish to book a seat in their submersible.
The submarine that his company created from scratch was known to have many issues, from its control to the small space within, and even though he was warned by many people working under him, he refused to listen and pushed through his recent expedition, which led to the passing of all five on board.
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