A millionaire tech CEO was killed during the fiery crash-landing of a private plane on a Texas highway Tuesday night.
Joshua Baer, the head of tech startup Capital Factory, was one of six passengers onboard the NetJets-operated Cessna Citation Latitude aircraft that burst into flames when it hit a Laredo highway upside down shortly after 10 p.m.
The crash happened on Loop 20 near the US-Mexico border after the airport tower reported a private aircraft had a mechanical issue and it had lost contact with the plane, KGNS News reported.
Police said the aircraft came down on the highway and struck a moving car, shutting down traffic in both directions and scattering debris across multiple lanes.
The jet had departed San Jose del Cabo, Mexico, around 6:18 p.m. local time and was headed for Austin, Texas, before diverting to Laredo, according to FlightRadar24.
The president of Capital Factory, a venture firm headquartered in Austin, issued a touching tribute to Baer Wednesday morning.
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Baer was a “fearless leader, a brilliant partner and a dear friend to so many of us,” Bryan Chambers wrote in the statement.
“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,” Chambers said.
