Richard Stockton Rush III (March 31, 1962 – June 18, 2023) was an American businessman and engineer, renowned as the co-founder and CEO of OceanGate, a deep-sea exploration firm. After graduating from Princeton University, Rush worked as a flight test engineer for McDonnell Douglas on the F-15 program and held roles at BlueView Technologies and the Museum of Flight.
In 2009, he founded OceanGate with Guillermo Söhnlein, becoming the sole founder after Söhnlein’s departure in 2013. Rush died on June 18, 2023, when the Titan submersible he was on imploded during a Titanic exploration mission.
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Stockton Rush Net Worth
At the time of his death, Stockton Rush had a net worth of $25 million. He earned much of his wealth as the CEO of OceanGate Expeditions and previously worked as a venture capitalist at Peregrine Partners in San Francisco.
His fortune was also bolstered by his family’s wealth, which began with his Irish immigrant grandfather who became a director at a major petroleum company.
Early life
Richard Stockton Rush III was born on March 31, 1962, in San Francisco, California, the youngest of five children to Richard Stockton Rush Jr. and Ellen Davies. His maternal grandfather, Ralph K. Davies, was a businessman, and his grandmother, Louise Davies, was a philanthropist.
Rush was a descendant of the Declaration of Independence signers Richard Stockton and Benjamin Rush. As a child, he aspired to be an astronaut, began scuba diving at 12, and became a commercial pilot at 18. He graduated from Phillips Exeter Academy in 1980, Princeton University in 1984, and UC Berkeley’s MBA program in 1989.
Career
After graduating from Princeton, Richard Stockton Rush III worked briefly at McDonnell Douglas as a flight test engineer before earning an MBA. He later became a venture capitalist with Peregrine Partners and managed Remote Control Technology in Kirkland, Washington.
A passionate scuba diver, Rush developed an interest in deep-sea exploration after a 2006 submarine excursion. Unable to purchase a submersible, he built a miniature version himself. In 2009, he co-founded OceanGate with Guillermo Söhnlein, aiming to advance deep-sea exploration and underwater tourism. Rush’s focus on minimizing safety regulations was evident in his 2022 podcast, where he criticized excessive safety measures.
Personal life
Richard Stockton Rush III married Wendy Weil, a pilot and teacher, in 1986. They had two children together. Weil is the maternal great-great-granddaughter of Isidor and Ida Blun Straus, who perished in the Titanic sinking. She previously served as the Director of Communications at OceanGate.
What happened to Stockton Rush?
Stockton Rush, who co-founded OceanGate with Guillermo Söhnlein in 2009, became the sole owner of the company after Söhnlein left in 2013. On June 18, 2023, Rush tragically died, along with four others, when the Titan submersible he was piloting imploded during an expedition to the Titanic wreck.
Conclusion
Stockton Rush’s life, marked by passion and innovation, has left an indelible mark on the world of oceanic exploration. His net worth, while impressive, pales in comparison to his invaluable contributions to deep-sea exploration.
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FAQ about Stockton Rush
- Was Stockton on the Titan when it imploded?
- Yes, he was on board during the tragic incident.
- Did OceanGate CEO ignore warnings?
- Allegations suggest that he might have, but the truth remains inconclusive.
- How many children did Stockton have?
- He had two children, Ben and Quincy.
- Was Wendy Weil Rush on the Titan during its last voyage?
- No, she was tracking the sub’s location from a different location.
- What was Stockton’s primary profession?
- He was the visionary CEO and Founder of OceanGate.
