Joshua Baer, the millionaire tech entrepreneur and founder of Capital Factory who helped transform Austin into a major startup powerhouse, was killed Tuesday night when a private jet crashed and burst into flames on a Texas highway. He was 50.
The NetJets-operated Cessna Citation Latitude, carrying six people including Baer, went down on Loop 20 near Laredo shortly after 10 p.m. on June 16, 2026. The aircraft, which had departed San José del Cabo, Mexico, around 6:18 p.m. local time en route to Austin, diverted toward Laredo International Airport after the crew reported mechanical issues and lost contact with air traffic control.
According to reports, the jet struck the highway, hit a moving passenger vehicle, flipped upside down and erupted in flames, scattering debris across multiple lanes and shutting down traffic in both directions.
Baer, described by many as the “godfather” of Austin’s startup scene, was the only fatality. The other five passengers on board — including his teenage son — were hospitalized, along with a driver whose car was clipped by the plane and five first responders treated for smoke inhalation. A small pet aboard the aircraft also survived.
Dramatic dashcam footage from the scene showed the plane skidding along the roadway, knocking down streetlights before slamming into a concrete median and breaking apart. Bystanders sprang into action amid the blaze, with some using a sledgehammer and shovel to pry open the door and smash cockpit windows to rescue those trapped inside.
One witness, Zayra Garza, told local media the chaos “looked like part of a movie,” adding that she feared the burning wreckage could explode at any moment.
Baer’s leadership extended far beyond Capital Factory, the Austin-based accelerator, coworking hub and venture firm he launched in 2009. He co-founded the Baer Family Foundation with his wife Amy to support disadvantaged children and was known for mentoring countless founders while championing Texas as an innovation destination.
In a statement Wednesday, Capital Factory President Bryan Chambers called Baer “a fearless leader, a brilliant partner and a dear friend to so many of us.”
“While we are devastated by this unimaginable loss, Josh built an incredibly resilient organization and a deeply capable team,” Chambers said. “Capital Factory remains fully operational, and we are completely committed to continuing his mission of backing unstoppable founders.”
Tributes poured in from across Texas’ business and political spheres. Sen. John Cornyn described Baer as “an innovative & creative leader in Austin’s entrepreneurial culture and a stalwart supporter of growing Central Texas’ military ecosystem,” adding, “I and countless others will greatly miss him.”
Sen. Ted Cruz hailed him as “one of the most significant figures driving innovation and entrepreneurship across America,” noting that “in Texas, he made our state a global leader. His impact was incalculable.”
The FBI and National Transportation Safety Board are investigating the cause of the crash. Baer is survived by his wife Amy and their three children.
