‘BRILLIANT PARTNER’

Millionaire ‘Godfather’ of Tech, 50, Dies in Tragic Plane Crash

Joshua Baer, a driving force in Austin’s tech ecosystem, died Tuesday.

The tech world has lost one of its giants.

Capital Factory CEO and “Austinprenuer” Joshua Baer died Tuesday night in a plane crash.

Described as the “godfather” of Austin’s startup scene, Baer founded Capital Factory, a venture firm that backs Texas-based businesses.

Play Video

Local air traffic controllers reported to officers just before 10 p.m. Tuesday that “they had an aircraft that was in trouble,” and “had lost communication with the aircraft,” according to investigator Jose Baeza with the Laredo Police Department.

Baer’s flight took off from Los Cabos International Airport in Mexico and was bound for Austin when it crashed onto Texas State Highway Loop 20 in Laredo, just a few miles short of its emergency location.

In a statement to The Guardian, Laredo Airport officials said that the plane, a private jet owned by Warren Buffett’s company, NetJets, was attempting to divert to the airport for an emergency landing when it crashed, striking a passenger vehicle on the road.

The statement also said that the flight’s “remaining five occupants, along with the driver of the affected vehicle, were transported to local hospitals and are reported to be in stable condition.”

The other flight members were two pilots and three teenagers, one of whom was Baer’s son. Laredo police later confirmed that the other victims have been discharged from the hospital.

Aviation expert Mike Slack confirmed that the incident, though tragic, could have been much worse.

“They hit an automobile, but more importantly, that concrete barrier that they hit could have opened the side of those fuel tanks up completely,” said Slack.

Baer’s company’s website describes it as “the most active early-stage investor backing America’s most ambitious founders” and lists Elon Musk’s SpaceX in its portfolio.

GRIFTERS GUNNA GRIFT

MAGA Figures Cash In Big on Elon Musk’s Space Venture

Julia Ornedo

Capital Factory president Bryan Chambers called Baer, 50, “a brilliant partner and a dear friend.”

Tributes poured in from across the tech and business worlds, including from podcast host Jason Calacanis. “Joshua was a relentless supporter of founders and Austin, and was filled with joy,” Calacanis wrote on X.

NetJets has declined to comment further or speculate on the cause of the accident, as stated on its website.

The tech legend is survived by his three children and his wife, Amy, with whom he founded the Baer Family Foundation, a philanthropic organization.

See more of our coverage in your search results.

ADD THE DAILY BEAST ON GOOGLE

Fiona O'ReillyBreaking News Intern

Got a tip? Send it to The Daily Beast here.