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Billionaire Plans First Titanic Dive Since OceanGate Tragedy
The Titanic dives are exclusive by design — only the wealthiest individuals, like the late Microsoft co-founder Paul Allen, hedge fund tycoon Ray Dalio, or game developer Gabe Newell, have owned submersibles capable of reaching such depths.
The Titanic wreck, resting 12,500 feet beneath the North Atlantic, is set to receive its first human visitors since the catastrophic OceanGate disaster that claimed five lives in 2023. According to reports, a billionaire whose name has not yet been revealed is preparing to descend to the legendary shipwreck in a mission that insiders say could cost as much as $10 million. The news comes just two years after the implosion of OceanGate’s Titan submersible, which sparked international outrage over safety lapses and effectively froze Titanic tourism. Now, the underwater tourism industry — and billionaire thrill-seekers — are hoping for a reset.
A Dangerous but Alluring Mission
Despite the risks, the Titanic tourism remains the holy grail of undersea expeditions. “People want to go there for the same reason they want to climb Mount Everest,” explained Patrick Lahey, CEO of Triton Submarines. His company is building the Triton 4000/2 Abyssal Explorer, a $20 million two-seat submersible being developed with real estate mogul Larry Connor.
Patrick Lahey promises it will meet the highest engineering and safety standards, describing its acrylic dome design as making passengers feel like “there’s nothing between you and the ocean environment.”
The Billionaire Factor
While the billionaire planning this Titanic tourism wreck dive has yet to reveal his identity, sources close to the mission told the New York Post that the announcement will be made after the expedition. “He’ll want to be the first person to go down since the tragedy,” one insider said.
The Titanic dives are exclusive by design — only the wealthiest individuals, like the late Microsoft co-founder Paul Allen, hedge fund tycoon Ray Dalio, or game developer Gabe Newell, have owned submersibles capable of reaching such depths.
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Learning From OceanGate’s Fatal Mistakes
The OceanGate disaster remains a cautionary tale. A U.S. Coast Guard investigation revealed that Titan’s hull was made largely of fiberglass, a material ill-suited to withstand extreme oceanic pressures. The report accused OceanGate CEO Stockton Rush — who perished in the implosion — of skipping safety certifications and ignoring prior hull damage.
In contrast, Patrick Lahey and other established submersible manufacturers emphasize stringent testing, durable titanium and acrylic designs, and full compliance with marine safety protocols. “Underwater exploration, when done correctly, is completely safe,” Lahey said.
Titanic: Still the Ocean’s Ultimate Prize
Veteran explorers warn, however, that the Titanic dive remains perilous. Victor Vescovo, who piloted the record-setting Limiting Factor submersible, called it “the most dangerous dive I ever did,” citing entanglement risks from debris and cables scattered around the wreck.
For many, though, the Titanic’s tragic history makes it irresistible. Treasure hunter Carl Allen notes that one of the most haunting sights on the deck is pairs of shoes, left behind by passengers on that fateful night in 1912. “You see them,” he said, “and you start to wonder who had been wearing them.”
As the billionaire prepares his daring voyage, the world will be watching closely — to see if history repeats itself or if a new chapter in Titanic exploration begins.
