Capital Factory CEO Joshua Baer Killed as NetJets Cessna Citation Latitude Crashes onto Texas Highway in Laredo

Capital Factory CEO Joshua Baer was killed Tuesday night when a private plane crashed onto a highway in Laredo, Texas, Austin-based startup accelerator Capital Factory confirmed to ABC affiliate KVUE. The aircraft, identified by FlightRadar24 tracking data as a Cessna Citation Latitude registered N523QS and operated by NetJets, was carrying six people — Baer, three teenagers, and two pilots. Five survivors were taken to hospital, and the fire department retrieved the final person on board, along with a small pet, from inside the plane.

The plane had departed San Jose del Cabo, Mexico, on Tuesday evening and was bound for Austin before diverting to Laredo. Five minutes before the crash, the pilots radioed Laredo airport to report mechanical issues, according to Laredo Police Chief Miguel Rodriguez. Authorities began receiving 911 calls reporting an aircraft crash at approximately 10 p.m., and the plane struck a vehicle as it landed on the highway.

NetJets said in a statement: "We are aware of an event involving a NetJets aircraft in Laredo, Texas, and are working with authorities." Five police officers were treated at hospital for smoke inhalation and subsequently released. Part of the aircraft remained on Loop 20, which was closed in both directions, with jet fuel requiring clean-up.

The Federal Aviation Administration was on scene and said the National Transportation Safety Board would lead the investigation. The FBI was also present. Laredo Mayor Victor Treviño called it "nothing short of a miracle that this tragedy did not become a mass fatality event," crediting police officers and firefighters who risked their lives to rescue passengers.

A diversion triggered by an inflight mechanical report, followed by a crash short of the alternate airport, places this incident in a category the NTSB investigates specifically to determine whether the failure, the approach, or an external factor was decisive. Fractional operators like NetJets route flights through dispatch and maintenance monitoring designed to catch developing issues before a diversion becomes an emergency landing, and the interval between the mechanical call to Laredo airport and the crash will be central to establishing what options the crew had.

The investigation will likely examine the maintenance and dispatch history of N523QS, the nature of the reported mechanical issue, and why the aircraft came down on a highway rather than the runway. NetJets' own statement commits only to cooperating with authorities, leaving the cause undetermined for now.

The NTSB's lead role means findings, including any probable-cause determination, will take time to surface; until a preliminary report is issued, the mechanical trouble reported five minutes before impact remains the last confirmed fact in the sequence.