A year after OceanGate’s sub imploded, thousands of leaked documents and interviews with ex-employees reveal how the company’s CEO cut corners, ignored warnings, and lied in his fatal quest to reach the Titanic.
Virtually all marine vessels are certified by organizations such as the American Bureau of Shipping, DNV, or Lloyd’s Register, which ensure that they are built using approved materials and methods and carry appropriate safety gear. It has been widely reported that Rush was dismissive of such certification, but what has not been made public until now is that OceanGate pursued certification with DNV (then known as DNV GL) in 2017—until Rush saw the price. “[DNV] informed me that this was not an easy few thousand dollar project as [it] had presented, but would cost around $50,000,” he later wrote in an email to Rob McCallum, a deep-sea explorer who had also signed Kohnen’s letter.
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Reality was more prosaic. Like most startups, OceanGate was in constant need of funds. Rush was trying to save money wherever he could. Interns, who made up around a third of the engineering team, were paid as little as $13 an hour. (When a manager pointed out in 2016 that Washington’s minimum wage was just $9.47 an hour, Rush responded, “I agree we are high. $10 seems fair.”) Rush also downgraded the sub’s titanium components from aerospace grade 5 quality to weaker and cheaper grade 3, says one former employee.
I knew they were being cavalier about safety, but didn’t realize they were penny pinching to this degree.
The dude in charge wasn’t even a billionaire. He was just some founder whose company wasn’t doing all that well, financially. I think his peak net worth was something like $25 million, and that was mostly in stock in his doomed company. $25 million is nothing to sneeze at, but it’s also not quite enough money to explain the dude’s arrogance.
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I knew they were being cavalier about safety, but didn’t realize they were penny pinching to this degree.
It’s nice to see a billionaire die because he was a cheap cunt lol, also he took a few other billionaires with him, solid work buddy
The dude in charge wasn’t even a billionaire. He was just some founder whose company wasn’t doing all that well, financially. I think his peak net worth was something like $25 million, and that was mostly in stock in his doomed company. $25 million is nothing to sneeze at, but it’s also not quite enough money to explain the dude’s arrogance.
$50,000 for that certification sounds cheap.