Jewish Tech Mogul Joshua Baer Killed in Fiery Texas Plane Crash
Capital Factory CEO and Jewish philanthropist Joshua Baer, 50, was killed when his private jet crashed onto a Laredo, Texas highway in flames. Five survivors including his teenage son.
Joshua Baer, the Jewish co-founder and CEO of Austin-based startup accelerator Capital Factory, was killed Tuesday night when the private business jet he was traveling on crashed onto a major highway near Laredo, Texas, and erupted in flames.
The crash occurred shortly before 10 p.m. on Loop 20 in Laredo after the aircraft reported mechanical problems while attempting to reach Laredo International Airport. Five other people aboard the plane survived and were transported to a local hospital for treatment. None of the injuries was considered serious.
Baer was returning to Austin from a vacation in San José del Cabo, Mexico. There were also three teenagers and two pilots on board. Baer's teenage son was among the survivors and was confirmed to be "OK" by a family representative.
Flight tracking data showed the aircraft descending toward the airport before its signal disappeared at roughly 600 feet above the ground, about 2.5 miles short of the runway. Five minutes before the crash, the pilots called the Laredo airport and reported mechanical issues.
Eyewitnesses described scenes of chaos and desperate heroism on the highway. Passing motorists rushed toward the burning wreckage to pull survivors to safety. Tow truck driver Ivan Franco, who happened upon the scene, told the Associated Press he grabbed a heavy hammer and fire extinguishers and ran toward the burning jet, attempting to smash through the windows to free those trapped inside.
Baer, who was 50, was the only fatality. The other five passengers were taken to local hospitals and most were released shortly after.
Baer founded Capital Factory in 2009 as a mentorship-driven software accelerator. Within a year it became the most active early-stage investor in Texas, a distinction it has held since. Capital Factory described him as a "visionary force, mentor, and champion for the Texas technology and startup ecosystem" who spent more than two decades building the state's startup scene.
U.S. Senator Ted Cruz called Baer "one of the most significant figures driving innovation and entrepreneurship across America," saying his impact on Texas was "incalculable."
Baer is survived by his wife and three children. He was also known as a major philanthropist, with a particular focus on supporting children with special needs and their families, and was active in anti-defamation efforts on behalf of American Jewry.
The FAA said the National Transportation Safety Board will lead the investigation into the crash.