Dennis Tito Biography & Net Worth

Dennis Tito Biography & Net Worth

Dennis Tito is an American engineer and entrepreneur, best known for being the first space tourist to sponsor his own trip into space. In mid-2001, he spent almost eight days in orbit as one of the crew members of ISS EP-1, a visiting trip to the International Space Station (ISS). This mission was launched by the Soyuz TM-32 spacecraft, and was landed by Soyuz TM-31.

Dennis Tito’s Early Life

Dennis Anthony Tito was born on August 8, 1940 in Queens, New York, United States. He was a former student of Forest Hills High School in New York, and holds a bachelor’s degree in Astronautics and Aeronautics obtained in 1962 from New York University. He also attended Rensselaer Polytechnic Institute satellite campus in Hartford, Connecticut, where he graduated from with a Master of Science degree. Tito is a former scientist of NASA Jet Propulsion Laboratory, and a member of Psi Upsilon.

Dennis Tito’s Career

In 1972, Dennis founded the Wilshire Associates in Santa Monica, California. The firm is a leading provider of investment management and technology services. He is an international client representing assets worth $71 billion. Wilshire Associates relies on the field of quantitative analytics, which makes use of mathematical tools to analyze market probabilities – a methodology Tito is credited with helping to create by applying the same methods he used to determine a spacecraft’s path at JPL. Despite a career change to investment management from aerospace engineering, Tito remained interested in space.

In a project first organized by MirCorp, Dennis Tito was accepted as a candidate for a commercial spaceflight by the Russian Federal Space Agency. He was criticized by NASA before the launch, mainly from Daniel Goldin, the then Administrator of NASA, who felt it was inappropriate for a tourist to go to space. MirCorp, Goldin and Tito are featured in the documentary film “Orphans of Apollo”. When Tito arrived the Johnson Space Center for extra training on the American portion of the International Space Station, the manager of NASA Robert D. Cabana, sent Tito and two of his fellow cosmonauts home, stating that they were not able to begin training because they were not willing to train with Tito. However, through a pact with the space tourism company Space Adventures, Ltd., Tito attached with the Soyuz TM-32 mission on April 28, 2001. Tito and his fellow cosmonauts stayed on the International Space Station for 7 days, 22 hours, 4 minutes, and orbited the Earth 128 times. Tito performed various scientific experiments in orbit that would be useful for his business back on earth. He reportedly paid $20 million for his trip.

Since returning from space, Tito has testified at the House Committee on Science, Subcommittee on Space & Aeronautics and the Senate Committee on Commerce, Science & Transportation, Subcommittee on Science, Technology, and Space Joint Hearing on “Commercial Human Spaceflight” on July 24, 2003. Ten years after his flight, he spoke to BBC News about it in an interview.

In February 2013, Dennis Tito announced his intention to send a personally financed spaceflight to Mars by 2018, stating that the technology was already in place and that the problems that need to be solved are only the requirements of the severity of a 501-day trip on a physical and psychological level for the human crew. However, in November 2013, he and other team members of the “Mars Inspiration” admitted that their plan would not be possible without levels of funding and assistance from NASA.

Awards & Achievements

On May 18 2002, the Rensselaer Polytechnic Institute honored Dennis Tito by awarding him an honorary doctorate of engineering.

In the 1990s, he was appointed to the Los Angeles Department of Water and Power Board of Commissioners and led the board to support the 1994 state ruling protecting Mono Lake from disproportionate water diversions by the city.

Dennis Tito Net Worth

Dennis Tito is an American engineer and entrepreneur who became famous for founding his own trip to space. He spent nearly 8 days on the trip which cost him $20 million. His mission visited the International Space Station in fulfillment of his dream as a child. He was able to raise money for his trip by founding the financial firm Wilshire Associates in 1972. His company manages $71 billion in client assets, provides management, consulting, and technology services, and also provides advice for $1 trillion worth of pension fund assets via its Wilshire 5000 stock index.

Dennis Tito net worth is pegged at $1 billion currently. He owns what is considered as one of the most impressive houses in Los Angeles, California. The 30,000 square-foot mansion is located at the top of a mountain, high above Brentwood, in Santa Monica and the Pacific Palisades. It is known to be one of the largest homes in all of Los Angeles and potentially has the most excellent views of any home in the county.