OceanGate's Five Missing Passengers 'Have Sadly Been Lost,' Company Says On Thursday, the U.S. Coast Guard announced that a debris field was found within the search area, identified as belonging to the external body of the submersible.

By Madeline Garfinkle

Opinions expressed by BIZ Experiences contributors are their own.

Anadolu Agency | Getty Images
The OceanGate Titan has been missing since June 18.

As the search for the OceanGate Titan, a submarine dedicated to Titanic exploration, continues, the company said it believes the passengers have "sadly been lost."

On Thursday, the U.S. Coast Guard announced that a debris field was found within the search area, identified as belonging to the external body of the submersible. The debris is consistent with a "catastrophic implosion" of the submersible, said John Mauger, the First Coast Guard District commander, in a press conference.

Mauger also told reporters that the Coast Guard is still working through the timeline of what went wrong in the "incredibly complex" situation.

Related: Two Billionaires Among the Missing on Tourist Submarine Exploring the Titanic

The Titan, a 21-foot submersible, went missing on Sunday, prompting an urgent rescue mission to find the submarine that was intended to take five passengers to the Titanic wreckage site.

After a nearly four day search of the area, the company issued a statement about the fate of the passengers missing.

"We now believe that our CEO Stockton Rush, Shahzada Dawood and his son Suleman Dawood, Hamish Harding, and Paul-Henri Nargeolet, have sadly been lost," OceanGate said in a statement, per CNN. "Our hearts are with these five souls and every member of their families during this tragic time."

Related: Rescuers Searching for Lost Titanic Submarine Detect Sounds

Founded in 2009, OceanGate specializes in deepsea expeditions, many of which are in the "adventure tourism" category.

"We signed waivers that would curl your toes," said David Pogue, a reporter who went on the Titan in 2021 on assignment, per NPR. "I mean, it was basically a list of eight paragraphs describing ways that you could be permanently disabled or killed."

The company began offering trips to the wreckage site in 2021 and has made three successful trips since the launch. The cost of a seat is $250,000, per OceanGate's website, which (as of Thursday) is still offering dates for June 2024.

Madeline Garfinkle

News Writer

Madeline Garfinkle is a News Writer at BIZ Experiences.com. She is a graduate from Syracuse University, and received an MFA from Columbia University. 

Want to be an BIZ Experiences Leadership Network contributor? Apply now to join.

Starting a Business

These Brothers Started a Business to Improve an Everyday Task. They Made Their First Products in the Garage — Now They've Raised Over $100 Million.

Coulter and Trent Lewis had an early research breakthrough that helped them solve for the right problem.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for BIZ Experiencess to pursue in 2025.

Franchise

How to Prepare Your Business — And Yourself — For a Smooth Exit

After decades of building your business, turning it over to someone else can be emotional. But with the right mindset and a strong plan, it can also be your proudest moment.

Franchise

10 No-Office-Required Businesses You Can Start for as Little as $5,000

With strong Franchise 500 rankings and investment levels starting under $5,000, these brands are ready for new owners to hit the ground running.

Business News

Here Are the 10 Jobs AI Is Most Likely to Automate, According to a Microsoft Study

These careers are most likely to be affected by generative AI, based on data from 200,000 conversations with Microsoft's Copilot chatbot.