Billionaire to Use $20M Sub for Titanic Visit, Aims to Assure Industry Safety

( – It seems that billionaires have not given up on making explorations to the sunken remains of the Titanic, as an Ohio real estate entrepreneur announced plans to dive to the Titanic site in a new $20 million submersible.

Larry Connor, a 74-year-old real estate mogul from Dayton, Ohio, said that he will be partnering with Triton Submarines co-founder Patrick Lahey in the expedition. The two will man a two-person submersible in a bid to show the public that the industry is safer than ever following the tragic OceanGate incident.

In June 2023, OceanGate launched its Titan submersible in an expedition to the Titanic. Its passengers were OceanGate CEO Stockton Rush, Titanic expert and French deep-sea explorer Paul-Henri Nargeolet, British businessman Hamish Harding, and Pakistani-British entrepreneur Shahzada Dawood and her son, Suleman. The sub imploded during the dive, killing everyone onboard. Multiple investigations were launched into the company following the incident, which also effectively put OceanGate out of business.

Connor, who is a race car enthusiast and has visited the International Space Station, said that the new plans for a Titanic submersible will not only be for that purpose.

“Ours is just not a trip to the Titanic,” Connor said. “It’s a research mission.” The submersible will be designed sometime in the summer of 2026, which Connor said would demonstrate the possibility of developing and building a “revolutionary, first-of-its-kind sub”, and one that could be “safely and successfully” taken on extremely deep dives, the real estate businessman added.

Connors and Lahey have collaborated on many occasions in the past, with the two embarking on an expedition in 2021 that made deep-dive excursions into the Marianas Trench region in a submersible.

The new vessel is set to be christened with the name, “The Explorer”, and based on initial design plans, can be safely taken for dives up to 13,000 feet underwater.

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