Tech Millionaire Joshua Baer Dies in Texas Plane Crash

Tech millionaire Joshua Baer has died in a plane crash in Laredo, Texas. The 50-year-old was aboard a private jet that crashed onto a highway and burst into flames. While Baer perished in the accident, five other individuals on the flight survived. Bystanders who had parked their cars along the road rushed to the scene to provide assistance as the survivors escaped the burning wreckage.

The cause of the crash is currently unknown. Forbes described Baer as a pivotal figure in the burgeoning technology sector of Austin, Texas. He founded Capital Factory in 2009, an organization that has since funded a multitude of growing tech companies. These include Apptronik, a manufacturer of humanoid robots; Firefly Aerospace and Intuitive Machines, both operating in the space industry; and Colossal Biosciences, a biotech firm aiming to revive extinct species.

Texas Republican Senator Ted Cruz expressed his condolences on X, formerly Twitter. "Josh has been one of the most significant promoters of innovation and entrepreneurship across America," Cruz wrote. "He made Texas a global leader, and his impact was immeasurable."

“

Josh has been one of the most significant promoters of innovation and entrepreneurship across America. He made Texas a global leader, and his impact was immeasurable.