updated 09/21/1998 AT 01:00 AM EDT
•originally published 09/21/1998 AT 01:00 AM EDT
The scion of a wealthy Memphis family, Taylor—who resides in Hilton Head, S.C., with his long-suffering wife, Margaret, 64, a retired teacher, and mother Justine, 84—is a lifelong tinkerer and inventor. He built the first sub in his backyard, then volunteered his services to a team of scientists investigating Nessie. The new, 31-ton sub could cost as much as $1 million, and Taylor, who is looking for a sponsor, has financed it out of his own pocket so far. "You read about guys my age who drop dead—I'm just going to make sure I've got everything I want done," he says. "But I'll probably get so excited down there, I'll have a heart attack anyway."