ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / NEWS

British Billionaire, One Of Pakistan's Richest Men and a Titanic Enthusiast Among Those On The Missing Submersible

The expedition company confirmed that its CEO is one of the five people aboard.
UPDATED AUG 24, 2023
Cover Image Source: Pexels | Arjanne Burger
Cover Image Source: Pexels | Arjanne Burger

A Titanic enthusiast, who has gone down 12,000 ft to the ocean floor a dozen times, the CEO of an expedition company, a world record-holding adventurer and aviator, and a father-son duo belonging to one of Pakistan's wealthiest families are all on the submersible that went missing in the Atlantic Ocean on Sunday.

The small vessel named "Titan" lost contact just 1 hour 45 minutes into starting its journey to the bottom of the ocean. The expedition was made possible by OceanGate, which was making its third trip to the wreckage of the Titanic that sank in 1912. It's been more than 48 hours (at the time of writing) since the sub lost contact with the outside world. While efforts are on to locate the sub, let's take a look at its famous and super-rich passengers.  



 

The founder of OceanGate Inc, and the pilot of Titan. The company confirmed that its CEO is indeed one of the five people aboard. As per the company website, he graduated from Princeton University and majored in aerospace, aeronautical, and astronautical engineering in 1984. He has a second degree in business administration from UC Berkeley Haas School of Business.

Stockon was only 19 when he became a jet transport-rated pilot and also earned a DC-8 Type/Captain rating, as per his biography.

Hamish Harding, 58, is a British billionaire, who runs Dubai-based private jet dealership Action Aviation. Hamish is an adventurer at heart and has visited the South Pole multiple times, as per BBC.

Hamish also holds three Guinness World Records, one of which includes the longest time spent at full ocean depth which he got during a dive to the deepest part of the Mariana Trench.

When asked about his urge for exploration, he said, "My view is that these are all calculated risks and are well understood before we start."

He has a net worth of at least $1 billion. But the exact value isn’t known.



 

The Pakistani businessman Shahzada Dawood and his son are among the three guests aboard. According to PEOPLE, Shahzada is one of the trustees at the SETI Institute, a non-profit research organization on life and intelligence in the universe. 

According to the SETI website, he has an "M.Sc in Global Textile Marketing from Philadelphia University, USA, and also an LLB from Buckingham University UK."

The man is also part of the Prince's Trust International and The British Asian Trust, which is an initiative by King Charles. 

As per NBC, Nargeolet, a French diver and Titanic enthusiast, is fondly addressed as "Mr. Titanic". The man has an elaborate history with the infamous vessel and has made dozens of trips since his first visit in 1987.

As per his bio on E/M Group, Nargeolet has made 37 dives and played a key role in retrieving artefact from the wreckage site. 

His view on death in the depths offers an insight into the uncertainties of life.

"If you are 11m or 11km down, if something bad happens, the result is the same,” he told the outlet at the time. “When you’re in very deep water, you’re dead before you realize that something is happening, so it’s just not a problem"

The private company provides crewed submersibles for research and exploration. It is based out of Everett, Washington. The company began taking tourists to the vintage shipwreck in its brand-new submersible Titan in 2021. 



 

The submersible is a tiny 670 cm long ship that has no GPS on board. It is guided by a mother vessel on the surface which uses USBL (ultra-short baseline) acoustic system to send text messages for communication. This communication system had failed in the summer of 2022 and the same submersible Titan was lost for over 2 and a half hours. Fortunately, the sub returned safely to the surface.

The expedition was joined by a reporter for CBS, David Pogue, who took to Twitter to say, "You may remember that the @OceansGateExped sub to the Titanic got lost for a few hours last summer too when I was aboard," 



 

Pogue never got to the wreckage as they lost communication and had to return to the surface. Pogue seemed concerned while speaking to NewsNation and said, "The submersible doesn't know where it is, relative to the Titanic, it might be right over there or might be right over there, (pointing in different directions), they can't see anything."

He then talks about how something "went wrong with the directional system" last summer. 

The Waiver That Mentioned "Death" Thrice

Mike Reiss, Emmy-winning writer-producer for "The Simpsons", has successfully witnessed the wreckage and returned safely to talk about the expedition. 

“He knew this was very dangerous,” Reiss’ wife, Denise, told New York Post. "Even in the most dire situations, he has a joke."

Reiss 63, told NY Post, "Death is always lurking, it’s always in the back of your mind. Before you even get on the boat, there’s a long, long waiver that mentions death three times on page one."

MORE ON MARKET REALIST
The payments will be funded by the tariff revenue and reach farmers early next year.
5 hours ago
Sweeney's team blatantly broke a rule and the host had to let it go multiple times.
23 hours ago
Dimon reiterated a nuanced and overall upbeat view about the effect of artificial intelligence on the economy.
1 day ago
The guest who worked closely with the author said the collection was sentimental to her.
4 days ago
As per a recent study, nearly half of the millionaires think they need better financial planning.
5 days ago
Partnering with Wing, Walmart has expanded its service to yet another metro, this time in Georgia.
5 days ago
Economists, John Campbell and Tarun Ramadorai told CBS that Americans are unprepared for retirement.
5 days ago
Supporters of the Trump administration are not happy with the retailer's latest move.
5 days ago
The advocacy group, Amazon Employees for Climate Justice, addressed the letter to CEO Andy Jassy.
6 days ago
The player, Noah Kraski solved the final puzzle with just two clues on the board.
6 days ago
In a suit filed in the Court of International Trade, the retailer argued the tariffs were unlawful.
6 days ago
The company will pay about 15,000 workers a weekly compensation and millions in civil penalties.
7 days ago
Chorsie Calber IV, who lost a car on Thursday, won $120,000 in his second Bonus Round of the week.
7 days ago
The Black Friday sales were up by 10.1% from 2024, despite economic uncertainty and cost concerns.
Dec 1, 2025
The two Choceur brand products from Silvestri Sweets were sold in over a dozen states.
Dec 1, 2025
While Toni Perrotta didn't land on the big prize, she got to drive home a Toyota sports car
Nov 27, 2025
The Turkey Dinner Kit has got rave reviews from customers on social media already.
Nov 27, 2025
The contestant, Liz St. Claire got close to taking home nearly $75,000.
Nov 26, 2025