Billionaire Father and Son Among 5 People on Board Missing 'Titanic' Sub as Desperate Search Continues

U.S. Coast Guard Officials are continuing to look for the submarine that disappeared on Sunday while en route to the world's most famous shipwreck

A billionaire father and son have been named among the five people on board the missing submarine that disappeared on Sunday while heading to view the wreckage of the Titanic.

Pakistani businessman Shahzada Dawood and his son Suleman Dawood were both "on a journey to visit the remnants of the Titanic in the Atlantic Ocean" when the vessel went missing, their family said in a statement to the BBC. "As of now, contact has been lost with their submersible craft and there is limited information available."

The Dawoods are British citizens. Shahzada is listed online as a trustee at the SETI Institute, a non-profit research organization on life and intelligence in the universe. He also works with the Prince’s Trust International and The British Asian Trust, set up by King Charles.

Related: Who Is on the Missing 'Titanic'-Bound Sub? All About the Passengers

Authorities have not officially released the names of those on the 21-foot exploration vessel, which lost contact with its mothership nearly two hours into its descent to the Titanic crash site. But British businessman Hamish Harding is also said to have been on board.

The trained jet pilot and owner of global sales company Action Aviation is based in the United Arab Emirates. He shared on Instagram Saturday that he would be a part of the trip.

"Due to the worst winter in Newfoundland in 40 years, this mission is likely to be the first and only manned mission to the Titanic in 2023," he wrote. "A weather window has just opened up and we are going to attempt a dive tomorrow. We started steaming from St. Johns, Newfoundland, Canada yesterday [Friday] and are planning to start dive operations around 4 a.m. tomorrow morning [Sunday]. Until then we have a lot of preparations and briefings to do."

Related: Everything to Know About the 'Titanic'-Bound Sub That Went Missing

Other members on board the craft, NBC News reported, include French diver Paul-Henry Nargeolet, who has decades of experience exploring the Titanic. A fifth person has only been identified as the vessel’s pilot.

The U.S. Coast Guard is running the search and rescue operation, in close collaboration with the Canadian Coast Guard.

They're in a race against time. Coast Guard officials have warned that there is a 96-hour oxygen "reserve capacity” in the submarine, meaning that there is currently less than 48 hours of breathing air remaining.

“We really brought all assets that we have available to us to bear on finding the submersible and the people in it,” Rear Adm. John Mauger said at a news conference on Monday. “When something happens on the high seas, it gets complicated quickly.”

Officials shared that they conducted an aerial search and that sonar buoys have been dropped into the sea to try and track any noise underwater that might lead to finding the submarine.

Related: New Titanic Details Revealed for First Time in High-Definition 8K Video of Undersea Wreck

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OceanGate Expeditions owns the underwater vehicle, and charges passengers upwards of $250,000 to travel to the site of the Titanic’s 1912 crash to gaze upon the ship’s remains, CBS News reported. Participants on the excursion are able to document the rate of decay and catch glimpses of history. 

In a statement obtained the BBC, OceanGate said, "Our entire focus is on the crewmembers in the submersible and their families."

"We are deeply thankful for the extensive assistance we have received from several government agencies and deep sea companies in our efforts to re-establish contact with the submersible," they continued.

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