Stockton Rush was an American engineer and businessman. He was widely popular as co-founder and chief executive officer of the deep-sea exploration company known as OceanGate.
One of the heartbreaking deaths that happened last year was the death of the founder of Ocean Gate, Stockton Rush. He had gone missing on June 18th, 2023 on his ocean gate submarine alongside 4 other passengers.
After all the passengers along with Stockton rush had been declared dead. Stockton Rush’s salary has been capturing fans’ attention for sometime, making them want to learn more about his life story and wealth. Keep reading to know what was Stockton Rush’s net worth before his tragic death.
Stockton Rush’s Net Worth
Although Stockton Rush’s precise net worth is not disclosed publicly, it is approximately estimated to be around $25 million.
This estimate considers factors like his family’s wealth, his position as the CEO of OceanGate Company, and his longtime experience in aerospace engineering.
The Potential Growth of Stockton Rush’s Net Worth
The assessed net worth of $25 million associated with Stockton Rush appears to be a conservative figure, specifically in view of OceanGate Expeditions’ valuation.
In 2022, the company was increased to $66 million, indicating that Stockton Rush held a massive financial interest. Consequently, it is reasonable to emphasize that his actual net worth likely surpassed the initial estimate.
How did Stockton Make Wealth?
Stockton Rush had gained his significant income as the CEO of OceanGate Expeditions. However, before he found the company, Stockton worked as a venture capitalist at the San Francisco Peregrine Partners firm.
Stockton’s wealth can also be partly attributed to his family’s fortune, which began with his grandfather who was an Irish immigrant. The grandfather was a director at the world’s largest petroleum company.
In 1981, Stockton Rush achieved a Captain’s rating at the United Airlines Jet Training Institute, making Rush the youngest pilot in the world to be rated for jet transport.
Stockton Rush also served as a sonar system manufacturer at BlueView Technologies. He was on Entomo’s board and he was also chairman of Remote-Control Technology.
Stockton OceanGate’s Net Worth
Stockton Rush and Guillermo Söhnlein were the co-founders of OceanGate Expedition. The private company operates submersible expeditions for research purposes, film production, and also exploration travel to historically significant underwater sites which include the iconic Titanic.
According to sources, OceanGate Expeditions is valued at $66 million. The company currently has over 50 employees, and its peak revenue in the last year was approximately $690k.
How Old was Stockton Rush when he Died?
Stockton Rush was 61 years old when he went missing along with other four people in the North Atlantic Ocean on June 18, 2023.
They were ultimately declared dead after their submarine of OceanGate de-routed from its original passage to visit the Titanic and fell deep into the Ocean bed around 12,500 feet below the surface.
Early Life of Stockton Rush’s
Stockton Rush or Richard Stockton Rush III was born in San Francisco California, on March 31st, 1962.
Stockton Rush father is Richard Stockton Rush Jr. and his mother’s name is Ellen Rush. The late businessman was raised alongside four elder siblings, including two sisters named Deborah and Catherine.
Stockton Rush’s grandfather, Ralph K. Davies was a very well-known American entrepreneur and political appointee. His grandmother, Louise M. Davies, was a known philanthropist.
Stockton Rush’s Wife and Children
Stockton Rush got married to his wife Wendy Rush nee Hollings Weil in 1986. He also has two kids with Wendy. Their names are Richard Ben and Quincy.
Stockton’s wife played major roles in OceanGate, she was the president of OceanGate from 2017 to 2021. Presently, Wendy Rush is the communications director for OceanGate as well as one of the members of the board of the Company’s Charitable Foundation.
Richard Stockton follows the same pathway as his father, Richard currently serves as a pilot in Washington City and Quincy is presently working as a law clerk in California.
Stockton Rush’s Career
In 1984, Stockton studied multiple Aeronautical engineering courses and also graduated in Aerospace engineering from Princeton University.
After graduating from Princeton University, Stockton did an MBA in the School of Business and got a degree in 1989 from the UC Berkeley Haas School.
At only 19 years old, Stockton qualified from the United Airlines Jet Training Institute as a pilot.
After graduating, Stockton served as a DC-8 officer on flights from Europe to the middle east. Rush continued doing his job when he was still in college.
After doing the DC-8 job for sometime, Stockton left Princeton College and decided to join the MCDonnell Douglas Corporation as a Flight test engineer f-15 program.
Afterwards, he spent two years at the Edwards Air Force Base on the APC-63 radar test as well as the anti-missile programs that have been operated by the Edwards Air Force base.
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Conclusion
Alongside his entrepreneurial activities, Stockton Rush’s well-off family background and accomplished career paved his financial standing even before founding OceanGate Expeditions.
Stockton’s devotion to delving into the mysteries of the ocean added to his legacy. While the precise extent of his wealth may remain undisclosed. It is evident that he lived a comfortable life dedicated to the exploration of the deep sea.
The sudden passing of Stockton Rush is a massive loss. He leaves behind a legacy of meaningful contributions. These will be celebrated for many years to come.
