Millionaire 'godfather' of the tech world is killed after private jet crashed and split in two on Texas highway

By WILL POTTER, US SENIOR NEWS REPORTER Published: 17:34, 17 June 2026 | Updated: 17:59, 17 June 2026 The CEO of a tech startup has been identified as one of the victims killed in a horror private jet crash on a Texas highway.  Joshua Baer, 50, the CEO of Capital Factory, was described as a 'visionary force, mentor, and champion for the Texas technology and startup ecosystem' by his company as it confirmed he was killed in the crash on Tuesday night.  Baer was often described as the 'Godfather' of the startup scene in Austin, Texas, where he based his venture capital firm Capital Factory.  The private jet had taken off from Los Cabos International Airport in Mexico and was bound for Austin-Bergstrom International Airport when it crashed around 10pm on Texas State Highway Loop 20.  Footage showed the plane burst into flames as heroic bystanders and first responders raced to rescue those inside, with officials saying two people died and four others survived the wreckage and were hospitalized. Capital Factory president Bryan Chambers issued a touching tribute to Baer on Wednesday morning following the crash, describing the tech executive as a 'fearless leader' in the business world. '(He was) a brilliant partner and a dear friend to so many of us,' Chambers said. 'While we are devastated by this unimaginable loss, Josh built an incredibly resilient organization and a deeply capable team.  'Capital Factory remains fully operational, and we are completely committed to continuing his mission of backing unstoppable founders.'  Business and political leaders including Texas Senators Ted Cruz and John Cornyn paid tribute to Baer, with many remembering him as a revolutionary business leader who transformed Austin into a leading startup hub.   Joshua Baer, the CEO of Capital Factory, has been identified as one of the victims killed in a horror private jet crash on a Texas highway on Tuesday night  Tributes poured in for Baer (right, seen with Apple CEO Tim Cook) with many remembering him as a revolutionary business leader who transformed Austin into a leading startup hub Witnesses to the fiery plane crash leapt into action and rescued several victims from the aircraft, with two bystanders using a sledgehammer and shovel to pry open the aircraft door  Baer was a father of three, and he had set up the Baer Family Foundation with his wife Amy to help disadvantaged children.   Tributes poured in for Baer following news of his passing, with business podcaster Jason Calacanis describing him as a 'true friend.'  'Joshua was a relentless supporter of founders and Austin,' he wrote on X.  'He was positive, fun, and filled with joy. A true friend who relentlessly supported me over the past 20 years we knew each other.'  Texas Senator John Cornyn said in a post to X that he was 'deeply saddened' by Baer's death, describing him as a 'friend'. 'Josh was an innovative & creative leader in Austin’s entrepreneurial culture and a stalwart supporter of growing Central Texas’ military ecosystem,' Cornyn wrote.  'I and countless others will greatly miss him.'  Texas Senator Ted Cruz also paid tribute to Baer, describing the founder as 'one of the most significant figures driving innovation and entrepreneurship across America... In Texas, he made our state a global leader. His impact was incalculable.' Texas Senator John Cornyn said he was 'deeply saddened' by Baer's death, describing him as a 'friend' Baer, seen with Shark Tank star billionaire Mark Cuban (right), was remembered as a business leader who put Austin on the map as a hub for tech startups  Baer was a father of three, and he had set up the Baer Family Foundation with his wife Amy to help disadvantaged children At least five first responders were hospitalized with smoke inhalation, and a person in a car that was clipped by the plane was also raced to hospital, officials said  Heroic bystanders and first responders raced towards the burning plane after it crashed on Texas State Highway Loop 20 in Laredo, Texas on Tuesday night Businessman John Andrew Entwistle, the founder of vacation booking site Wander, credited Baer with transforming Austin into a leading city for startups and business ventures.  'I am so deeply saddened to hear of the tragic passing of (Baer),' he wrote in a tribute on X. 'When I started Wander, he was there day one. He brought the community together in magical ways. Rest in peace Josh.' The National Transportation Safety Board (NTSB) said it has launched an investigation into the crash, the cause of which is currently unclear.  In dashcam footage from a vehicle close to the crash site, the aircraft was seen skidding across the highway and smashing through street lights, before splitting in two on the concrete median and bursting into flames. Officials said a person in a passing car was also clipped by the plane and was hospitalized, and five first responders were also treated for smoke inhalation.  Witnesses to the fiery plane crash leapt into action and rescued several victims from the aircraft, with two heroic bystanders using a sledgehammer and shovel to pry open the aircraft door. Separate footage also showed firefighters dousing the wreckage with fire extinguishers as passengers escaped, with first responders forced to move away from the flames and cough sporadically due to the heat. Witness Zayra Garza, who shared footage of the aftermath to social media, said she was shocked by the horrific scenes, describing the crash site as 'like part of a movie.' 'What was worrying me was the fire,' she told the Associated Press. 'I was concerned that it could have just exploded at any time.' Shocking dashcam footage captured the moment a private jet crash landed on a Texas highway and smashed through street lights and a car in a deadly wreckage NetJets said in a statement that the crash involved one of its aircraft and it is working with authorities. NetJets is owned by Warren Buffett’s Berkshire Hathaway and allows people to buy part ownership in private jets. The crash was the third such aviation disaster in as many days across the US, following a B-52 military aircraft crashing at Edwards Air Force Base in California on Monday, killing eight people. That tragedy followed a crash on Sunday in Missouri, when 12 people were killed when a skydiving plane crashed soon after takeoff. The comments below have not been moderated. The views expressed in the contents above are those of our users and do not necessarily reflect the views of MailOnline. By posting your comment you agree to our house rules. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual. Do you want to automatically post your MailOnline comments to your Facebook Timeline? Your comment will be posted to MailOnline as usual We will automatically post your comment and a link to the news story to your Facebook timeline at the same time it is posted on MailOnline. 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