Stockton Rush Net Worth – OceanGate CEO Financial Success
Stockton Rush net worth was $25 million at the time of his death. He was the CEO and founder of OceanGate, a company specializing in deep-sea exploration. Rush gained fame for his innovative submersibles and Titanic expeditions.
Born in March 31, 1962, he passed away at the age of 61. His income sources included his business ventures and engineering expertise. Rush was a dedicated husband to Wendy Weil and a father of two children, Ben and Quincy.
Stockton Rush Biography
| Full Name | Richard Stockton Rush III |
| Profession | Businessman, Engineer, CEO of OceanGate |
| Place of Birth | San Francisco, California, USA |
| Date of Birth | March 31, 1962 |
| Died | June 18, 2023 |
| Age | 61 Years Old |
| Nationality | American |
| Ethnicity | Caucasian |
| School/College/University | Phillips Exeter Academy, Princeton University (B.S. in Aerospace Engineering), UC Berkeley (MBA) |
| Net Worth | $25 million |
| Father | Richard Stockton Rush Jr. |
| Mother | Ellen Davies |
| Siblings | Four |
| Wife | Wendy Weil |
| Kids | Ben and Quincy |
Stockton Rush Early Life and Education
Stockton Rush was born in San Francisco, California. From a young age, Rush aspired to be an astronaut and dreamed of exploring Mars.
He developed an early passion for diving and aviation, becoming a certified scuba diver at 12 and earning his commercial pilot license by 18. However, vision issues prevented him from pursuing a career as a military aviator.
Rush graduated from Phillips Exeter Academy in 1980. He earned a Bachelor’s in Aerospace Engineering from Princeton University in 1984 and an MBA from the University of California, Berkeley in 1989.
Stockton Rush: Career Highlights
Rush’s career showcased a commitment to innovation, ocean exploration, and pushing boundaries, but also highlighted debates about safety and risk in pioneering technologies.
- 1970s: Graduated from Princeton University. Worked as a flight-test engineer for the F-15 program at McDonnell Douglas.
- 1980s: Earned an MBA and became a venture capitalist at Peregrine Partners in San Francisco.
- 1989: Moved to the Pacific Northwest to manage Remote Control Technology in Kirkland, Washington. Built an experimental airplane that he flew throughout his life.
- 2006: Experienced his first submarine dive in British Columbia. This sparked his interest in deep-sea exploration.
- 2007: Built a small submersible capable of diving to 10 meters after being unable to purchase a private submarine. Began developing plans for his own submarine company.
- 2009: Founded OceanGate with Guillermo Söhnlein to create deep-diving submersibles for tourism and commercial use.
- 2013: Became the sole leader of OceanGate after Guillermo Söhnlein left the company.
- 2016: Piloted the Cyclops I during an exploration of the Andrea Doria wreck. The submersible hit the wreckage during the dive, as later reported in a Coast Guard hearing.
- 2018: Led an expedition in the San Juan Islands to study marine species, including red sea urchins and sand lance habitats.
- 2021: Officially launched OceanGate’s deep-sea tourism business after years of preparation and delays.
- 2022: Shared controversial views on risk and safety, criticizing regulations that prioritize safety over innovation.
- 2023: Faced a lawsuit from clients for canceled Titanic dives but continued operations.
Stockton Rush Family
Stockton Rush was born to Richard Stockton Rush Jr. and Ellen (née Davies). He was the youngest of five children.
- Mother: Ellen Davies was a San Francisco native.
- Father: Richard Stockton Rush Jr. was born in Philadelphia.
- Maternal Grandparents: His grandfather, Ralph K. Davies, was a businessman, while his grandmother, Louise Davies, was a philanthropist and the namesake of San Francisco’s Louise M. Davies Symphony Hall.
- Ancestry: Through his father, Stockton Rush was a descendant of two signers of the Declaration of Independence, Richard Stockton and Benjamin Rush.
Stockton Rush Wife
Stockton Rush married Wendy Weil in 1986. She is a licensed pilot and teacher. The couple had two children. Wendy has a historic connection to the Titanic, as she is the great-great-granddaughter of Isidor and Ida Blun Straus, who died in the Titanic sinking.
She also worked closely with Stockton as the Director of Communications at OceanGate, the company he founded. Her connection to the Titanic brought a profound personal aspect to Rush’s underwater exploration endeavors.
Stockton Rush Children
Stockton Rush and his wife, Wendy Weil, had two children, named Ben and Quincy. Both children carry forward the legacy of their parents’ adventurous and innovative spirit.
Stockton Rush Age
Stockton Rush was born on March 31, 1962. He was 61 years old when he tragically died on June 18, 2023. He lived a life dedicated to innovation, adventure, and deep-sea exploration through his company, OceanGate.
Stockton Rush Cause of Death
Stockton Rush’s cause of death was a catastrophic implosion of the Titan submersible on June 18, 2023. The implosion caused an instantaneous loss of life for all five aboard, including Rush.
The debris field was discovered on June 22, 2023, near the Titanic wreck site, approximately 490 meters (1,600 feet) from the ship’s bow.
Stockton Rush Net Worth at the Time of Death
Stockton Rush, had a net worth of $25 million at the time of his death. While considered wealthy, he was not a billionaire like some have assumed. His net worth placed him within the High Net Worth or Ultra High Net Worth categories, but not in the billionaire range.
What are Stockton Rush’s income Streams?
Stockton Rush built his wealth through various sources tied to his passion for innovation and exploration.
1. OceanGate Expeditions
Stockton Rush was the CEO and co-founder of OceanGate, a company specializing in deep-sea exploration and submersible design. The business generated income through underwater tourism, research expeditions, and innovative submersible technology.
2. Previous Aerospace and Engineering Roles
Rush worked as a flight-test engineer for McDonnell Douglas on their F-15 program. He also held roles at BlueView Technologies and the Museum of Flight, contributing to his income early in his career.
3. Venture Capital Investments
He worked as a venture capitalist for Peregrine Partners, managing investments and providing financial backing for innovative projects.
4. Submersible and Ocean Exploration Ventures
Rush constructed a miniature submersible and explored market opportunities in underwater tourism. His projects included research expeditions, such as studying sea urchins in the San Juan Islands and organizing Titanic dives.
5. Public Speaking and Media Appearances
As an industry leader, Rush likely earned through public speaking engagements and media features discussing ocean exploration and innovation.
6. Educational and Business Consulting
With degrees in aerospace engineering from Princeton and an MBA from Berkeley, Rush likely engaged in consulting for businesses and educational initiatives.
Stockton Rush House
Stockton Rush lived in Seattle, Washington. His home served as the base for his work with OceanGate Inc., the company he founded. He oversaw the development of deep-sea submersibles from there. Seattle’s proximity to the ocean suited his passion for marine exploration.
FAQs
Is Stockton Rush billionaire?
No, Stockton Rush was not a billionaire.
Is Stockton Rush died?
Yes, Stockton Rush died on June 18, 2023, in the implosion of the Titan submersible.
Who is the new CEO of OceanGate?
Gordon Gardiner has been appointed as the new CEO of OceanGate.
How did Stockton Rush make his money?
Stockton Rush made his money through engineering roles, entrepreneurship, and founding OceanGate, specializing in submersible technology and deep-sea exploration.
Where is Stockton Rush now?
Stockton Rush passed away in the North Atlantic Ocean during the Titan submersible expedition.
