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Some have tried since but nobody has succeeded. And a few have even died trying.
http://en.wikipedia.org/wiki/Water_spee ... _Challenge" onclick="window.open(this.href);return false;With an approximate fatality rate of 85% since 1940, the record is one of the sporting world's most hazardous competitions.
Watching the first run in his second attempt just scares the crap out of me. I remember the boat rocking from side to side but not that violently. I can't imagine how he maintained control of the thing. It would have been a terrifying ride. The final run, which was easily the fastest he ever did was a cakewalk by comparison.
The engine was an obsolete Westinghouse J34 from a Lockheed Neptune. It developed only about 3,000lbs of thrust, which would be a rough equivalent at that speed of about 5,000hp. As far as I know it actually ran on petrol rather than kero.