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The Luxury Boats Owned By Some of the Wealthiest People in Tech, from a Yacht So Big It Has Its Own Support Boat to Superyachts with Swimming Pools and Basketball Courts Tech billionaires like Jeff Bezos, Oracle cofounder Larry Ellison, and Google cofounders Sergey Brin and Larry Page have all purchased mini vacation hubs at sea.

By Grace Kay and Sindhu Sundar • Jul 3, 2023

Key Takeaways

  • Many billionaires like Jeff Bezos and Richard Branson enjoy spending their time on luxurious yachts.
  • The boats are decked out with amenities that many Americans can only dream of.
  • Here are some of the billionaires in tech who own private yachts.

This article originally appeared on Business Insider .

A regular Jane celebrating a personal renaissance after a long-term relationship might commemorate the new era with an ankle tattoo of a spiritual saying. When you're a billionaire, you could do it instead with a $500 million megayacht .

Amazon founder Jeff Bezos made waves in May riding around the roughly 127-meter "Koru," a Māori term that may signify a fresh start, with his reported fiancée Lauren Sanchez. (In 2019, Bezos finalized his divorce from MacKenzie Scott, whom he was married to for 25 years).

Beyond the private planes occupying the hangars of billionaires, yachts have come to symbolize the highly private sites of leisure and networking reserved for the ultra-wealthy .

Tech billionaires like Bezos, Oracle cofounder Larry Ellison, and Google cofounders Sergey Brin and Larry Page have all purchased their own mini vacation hubs at sea, decking their boats with amenities like gyms, spas, pools, nightclubs, and movie theaters.

For those wishing to experience life aboard these multi-million-dollar yachts, some are available to rent out for a few nights or weeks at a time. Late Microsoft cofounder Paul Allen's yacht can be booked for $2.2 million per week or more, according Bloomberg .

Chartering yachts owned by billionaires like Alphabet cofounder Sergey Brin has previously cost customers anywhere from $773,000 a week to $1.2 million .

It remains to be seen how these vessels will fare against the apparent Orca uprising.

Take a look at some of the yachts that have been owned by tech billionaires.

A mystery buyer bought a 414-foot superyacht that was once owned by late Microsoft co-founder Paul Allen for $278 million. Allen had the boat, which was named "Octopus," built in 2003 for $200 million. Since the tech billionaire's death in 2018, the boat had been listed for as much as $325 million.

american yacht owners

Octopus in Canary Wharf, London, in 2012. Ki Price/Reuters Source: SuperYacht Times

The wealthy can book the yacht for a weekly rate of $2.2 million or more, through the luxury company Camper & Nicholsons, Bloomberg reported last year.

octopus paul allen luxury yacht

414ft luxury yacht 'Octopus' owned by Microsoft co-founder, Paul Allen, is moored to fuel up at Ege Ports in Kusadasi district of Aydin, Turkey on April 27, 2015. Ibrahim Uzun/Anadolu Agency/Getty Images

Sources: Bloomberg; Insider .

Amazon founder Bezos' $500 million megayacht, the roughly 127-meter "Koru," sparked attention in May for its artistic decor. A sculpture of a woman on the boat appeared to observers to be the likeness of Bezos' reported fiancée Sanchez, who was also seen that month on the yacht sporting a large ring.

bezos

Jeff Bezos was spotted aboard his megayacht "Koru" in May. Lift Aircraft.

Even before its completion, "Koru" drew the ire of Dutch people vowing to hurl eggs at the boat if it would require a historic bridge in Rotterdam to be taken apart to let it through. An egg crisis was averted however, as the company making the ship found a less-irksome alternative.

Nighttime view of De Hef bridge in Rotterdam, Netherlands

View of the Koningshaven Bridge, known as De Hef in Rotterdam, Netherlands. Peter Dejong/AP

Bezos has long been interested in yachts. In 2019, he was spotted aboard entertainment mogul David Geffen's superyacht.

12686190635_8b47dfabbc_c

David Geffen's superyacht Flickr via BI

Oracle cofounder Larry Ellison owns a 288-foot yacht named Musashi that he acquired in 2013. The yacht has several amenities, including an elevator, swimming pool, movie theater, and both an indoor and outdoor gym.

larry ellison musashi yacht

rulenumberone2/Flickr, Justin Sullivan/Getty Images

Source: Yacht Bible

Ellison has owned several superyachts over the years, including the Katana, the Ronin, and the Rising Sun.

rising sun

Courtesy of Lurssen Source: Forbes .

The Oracle cofounder also has a knack for competitive yacht racing, and helped to found and back a racing team, called Oracle Team USA, in 2000. The team has found success and won several prestigious titles over the years.

larry ellison oracle yacht team usa

Xaume Olleros/Getty Images Sport Source: Telegraph

Ellison previously owned a bigger, 454-foot yacht called Rising Sun, which was designed specifically for the CEO in 2005. That yacht reportedly has 82 rooms, a movie theater, a wine cellar, and a basketball court. However, Ellison sold off the Rising Sun to Geffen for a reported $300 million.

Larry Ellison

Kimberly White/Getty Images Source: Forbes , Boat International

Ellison's boat, Musashi, is a sister ship to the yacht of another billionaire, former Sears CEO Eddie Lampert. However, the yacht, named Fountainhead, is often mistaken for belonging to billionaire investor Mark Cuban. "The guy who owns the boat tells everyone that it's mine," Cuban told Page Six in 2016. "It's so crazy ... I don't even own a boat."

Mark Cuban

Mark Cuban. Steve Marcus/Reuters

Source: Page Six

Ellison's yacht reportedly influenced the decision of late Apple CEO Steve Jobs to get a boat himself. However, Jobs never set foot on the boat — the yacht was commissioned in 2008, but wasn't completed until 2012, a year after his death.

Steve Jobs

Justin Sullivan/Getty Images Source: Business Insider

When Jobs died in 2011, his yacht — along with his $14.1 billion fortune — was inherited by his wife, Laurene Powell Jobs, founder and president of a social-impact nonprofit called the Emerson Collective. The 256-foot yacht is named Venus, and is worth $130 million.

laurene powell jobs steve jobs yacht

AP Photo/Peter Dejong Source: Business Insider

Google's billionaire cofounders, Larry Page and Sergey Brin, are known to splurge. An Insider feature in December documented some of the trappings of their luxury, including planes and yachts.

Larry Page Sergey Brin

Sergey Brin (left) and Larry Page. Getty / Michael Nagle

Source: Insider .

Page owned a yacht named Senses, a $45 million, 194-foot boat that he bought in 2011 from a New Zealand businessman. He's since sold the yacht, Insider reported in 2021, a vessel that had a private beach club with a Jacuzzi and sun beds, both indoor and outdoor dining areas, and a helicopter pad. It's unclear what other sea vessels he owns, though Insider has previously reported he might have another yacht.

Larry Page superimposed with Senses yacht

Ari Helminen/Flickr, Justin Sullivan/Getty Images Sources: Boat International; Insider .

Brin meanwhile owns a number of yachts and vessels including the 73-meter Dragonfly, and the 40-meter Butterfly, Insider reported in January.

dragonfly yacht

Abell Point Marina/YouTube Source: Insider .

Dragonfly, the $80 million boat that has a movie-theater, shares a name with Google's once-secret project to launch a censored search engine in China. Google said in 2019 it had officially terminated the project.

Sergey Brin

Eric Risberg/Associated Press Source: Insider , Forbes .

The former Google CEO picked up the Alfa Nero yacht for nearly $68 million in an auction in June, according to a Bloomberg report. The yacht had apparently been left amid Russia's war in Ukraine, according to the report.

Eric Schmidt

Eric Schmidt REUTERS/Brian Snyder Source: Bloomberg .

For Skype cofounder Niklas Zennstrom, his interest in yachts skews toward racing and competitive sailing. Zennstrom has gone through a succession of boats all named Ran.

Co-Founder and CEO of Skype Technologies, United Kingdom Niklas Zennstroem

Co-Founder and CEO of Skype Technologies, United Kingdom Niklas Zennstroem listens during a plenary entitled 'Digital 2.0:Powering a Creative Economy' at the World Economic Forum in Davos, Switzerland, AP Photo/Michel Euler

Source: CNN

The Ran VII yacht is among the most advanced of Zennstrom's boats. The racing yacht uses electrical power, which Zennstrom has said makes it "lighter, less drag, quieter, and most importantly it is environmentally friendly."

ran vii 7 yacht niklas zennstrom

Carkeek Design Partners/YouTube Source: CNN

The 40-foot yacht has been meant to compete in regattas through the racing team owned by Zennstrom and his wife, Catherine. The Ran racing team launched in 2008, and has won some prestigious regattas.

ran 7 yacht niklas zennstrom

The Ran racing team. Carkeek Design Partners/YouTube Source: CNN

Barry Diller, chairman of digital media company IAC, co-owns a $70 million yacht with his wife, fashion designer Diane von Furstenberg.

Barry Diller Diane Von Furstenberg

Diane von Furstenberg, left, and Barry Diller. Scott Olson/Getty Images Source: Business Insider

The sailing yacht, named Eos, is 350 feet long with six bedrooms. The power couple has hosted many celebrities over the years — a few that have been spotted aboard Eos include model Karlie Kloss, actor Bradley Cooper, journalist Anderson Cooper, and singer Harry Styles.

eos

snowwahine/YouTube Source: W Magazine

For Jim Clark, the cofounder of Netscape, one yacht hasn't been enough. Clark has owned boats for more than 30 years, and in 2012, he put up two of his sailing yachts for sale.

Jim Clark, right. Cameron Spencer/Getty Images Source: Business Insider

Clark listed the boats for a combined $113 million: the 136-foot Hanuman for $18 million, and the 295-foot Athena for $95 million. However, Clark has yet to offload Athena. Clark also previously owned a 155-foot yacht named Hyperion, and currently also owns a sloop called Hanuman.

jim clark athena yacht

The yacht Athena. Fosnez / Wikimedia Commons Source: Boat International , Forbes

Charles Simonyi worked at Microsoft until 2002, and oversaw the creation of Microsoft Office software. A few years before he left, Simonyi decided to purchase a yacht. He told the designer that wanted his yacht to be "home away from [his] home in Seattle."

Charles Simonyi

Reuters/Sergei Remezov Source: Boat International

The product of that conversation in 1999 is Simonyi's yacht named Skat, meaning "treasure" in Danish. The yacht measures 233 feet long, and is unique with its nontraditional design and gray color. Skat features a matching gray helicopter, a gym, and motorcycles.

charles simonyi skat yacht

Christopher Hunt/Getty Images Source: Yacht Charter Fleet

Opulent British billionaire Richard Branson owned a yacht until he sold it in September 2018. The 105-foot catamaran sold for $3 million, significantly lower than the $9.6 million price Branson listed the boat for in 2014.

richard branson necker belle

Anthony Harvey/Getty Images, Virgin Source: Business Insider

Branson, the founder of Virgin Group, bought the boat in 2009. He named it Necker Belle, a nod to his private Caribbean island, Necker Island.

Necker Island

Necker Island Source: Business Insider

Additional reporting by Paige Leskin.

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World’s Richest Yacht Owners

The world’s richest yacht owners.

It’s no surprise that owning a yacht is popular among the billionaire class. It’s not uncommon for billionaires around the world to not only own one luxury superyacht, but multiple yachts. Not to mention tenders and other high-tech watercrafts. Some of the richest people in the world own some of the largest, most expensive mega yachts. We take a look at some of the world’s richest yacht owners and the luxury vessels they have bought.

Bernard Arnault

Worth a whopping $156.8 billion in 2021, Bernard Arnault is a French businessman and art collector most known as the chairman and chief executive of LVMH Moët Hennessy Louis Vuitton. He is currently the third richest person in the world. 1 LVMH is a French multinational conglomerate and the world’s largest luxury-goods company. Renowned brands such as Dior, Givenchy, Bulgari, and Tiffany & co. are owned by this corporation.

Bernard Arnault Yacht

Bernard Arnault owns the 101.5-meter motor yacht Symphony . Built in the Netherlands by Feadship, this luxury super yacht has four main engines and can carry 20 passengers and 38 crew. A 6-meter glass-bottom swimming pool and outdoor cinema are some of the vessel’s standout features.

Larry Ellison

Worth $90.6 billion in 2021, Larry Ellison is an American business magnate and investor. One of the most famous yacht owners, he is best known for being the co-founder and executive chairman of Oracle Corporation. Oracle Corporation is an American multinational computer technology corporation known as the world’s largest database management company.

Larry Ellison Yacht

Larry Ellison owns the 87.78-meter motor yacht Musashi . Built in the Netherlands by Feadship in 2011, this five-deck super yacht can accommodate 18 guests and 24 crew. Its exterior was inspired by Japanese design and Art Deco style. An outdoor gym and spa are only a few of the vessel’s luxury amenities.

The eighth richest man in the world as of 2021, Larry Page is worth $90.3 billion. He is an American computer scientist and internet entrepreneur best known as one of two co-founders of Google. Google is an American multinational technology company specializing in internet-related services and products which includes the world’s most used search engine, online advertising platforms, and cloud computing.

Larry Page Yacht

Larry Page owns the 58.8-meter motor yacht SENSES . Built and launched by German yacht builder Fr. Schweers Shipyard in 1999, it went under its latest yacht refit in 2015. This luxury yacht sleeps up to 12 guests with accommodations for 14 crew. An expedition yacht, SENSES  features a large helipad, ice-strengthened hull, and three high-speed tenders.

Yacht Management South Florida, Inc. specializes in complete yacht care . As such, we offer premier maintenance services at our South Florida marina including boat bottom cleaning , and hull painting. Our certified yacht technicians can also go to your yacht to provide dockside assistance and emergency yacht repair services .

Contact us today to schedule any technical work or learn more about out our extensive yacht maintenance services and first-class yacht management program!

Additional Reading

  • Top 5 Largest Yachts in The World
  • List of Famous Yachts in Movies
  • Dorothy Neufeld, Visual Capitalist – The Richest People in the World in 2021

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10 of the most impressive superyachts owned by billionaires

From a sailing yacht owned by a russian billionaire industrialist to the luxury launch of the patek philippe ceo, here are the best billionaire-owned boats on the water….

Words: Jonathan Wells

There’s something about billionaires and big boats . Whether they’re superyachts or megayachts, men with money love to splash out on these sizeable sea-going giants. And that all began in 1954 — with the big dreams of Greek shipping magnate Aristotle Onassis.

Onassis, keen to keep his luxury lifestyle afloat when at sea, bought Canadian anti-submarine frigate HMCS Stormont after World War II. He spent millions turning it into an opulent super yacht, named it after his daughter — and the Christina O kicked off a trend among tycoons. To this day, the world’s richest men remain locked in an arms race to build the biggest, fastest, most impressive superyacht of all. Here are 10 of our favourites…

Eclipse, owned by Roman Abramovich

american yacht owners

Built by: Blohm+Voss of Hamburg, with interiors and exteriors designed by Terence Disdale. Launched in 2009, it cost $500 million (the equivalent of £623 million today).

Owned by: Russian businessman Roman Abramovich, the owner of private investment company Millhouse LLC and owner of Chelsea Football Club. His current net worth is $17.4 billion.

Key features: 162.5 metres in length / 9 decks / Top speed of 22 knots / Two swimming pools / Disco hall / Mini submarine / 2 helicopter pads / 24 guest cabins

Sailing Yacht A, owned by Andrey Melnichenko

american yacht owners

Built by: Nobiskrug, a shipyard on the Eider River in Germany. The original idea came from Jacques Garcia, with interiors designed by Philippe Starck and a reported price tag of over $400 million.

Owned by: Russian billionaire industrialist Andrey Melnichenko, the main beneficiary of both the fertiliser producing EuroChem Group and the coal energy company SUEK. Though his current net worth is $18.7 billion, Sailing Yacht A was seized in Trieste on 12 March 2022 due to the EU’s sanctions on Russian businessmen.

Key features: 119 metres in length / 8 decks / Top speed of 21 knots / Freestanding carbon-fibre rotating masts / Underwater observation pod / 14 guests

Symphony, owned by Bernard Arnault

american yacht owners

Built by: Feadship, the fabled shipyard headquartered in Haarlem in The Netherlands. With an exterior designed by Tim Heywood, it reportedly cost around $150 million to construct.

Owned by: French billionaire businessman and art collector Bernard Arnault. Chairman and chief executive of LVMH, the world’s largest luxury goods company, his current net worth is $145.8 billion.

Key features: 101.5 metres in length / 6 decks / Top speed of 22 knots / 6-metre glass-bottom swimming pool / Outdoor cinema / Sundeck Jacuzzi / 8 guest cabins

Faith, owned by Michael Latifi

american yacht owners

Built by: Similarly to Symphony above, also Feadship. With exteriors designed by Beaulieu-based RWD, and interiors by Chahan Design, it cost a reported $200 million to construct in 2017.

Owned by: Until recently, Canadian billionaire and part-owner of the Aston Martin Formula 1 Team , Lawrence Stroll. Recently sold to Michael Latifi, father of F1 star Nicholas , a fellow Canadian businessman with a net worth of just under $2 billion.

Key features: 97 metres in length / 9 guest cabins / Glass-bottom swimming pool — with bar / Bell 429 helicopter

Amevi, owned by Lakshmi Mittal

american yacht owners

Built by: The Oceanco shipyard, also in The Netherlands. With exterior design by Nuvolari & Lenard and interior design by Alberto Pinto, it launched in 2007 (and cost around $125 million to construct).

Owned by: Indian steel magnate Lakshmi Mittal, chairman and CEO of Arcelor Mittal, the world’s largest steelmaking company. He owns 20% of Queen Park Rangers, and has a net worth of $18 billion.

Key features: 80 metres in length / 6 decks / Top speed of 18.5 knots / On-deck Jacuzzi / Helipad / Swimming Pool / Tender Garage / 8 guest cabins

Odessa II, owned by Len Blavatnik

american yacht owners

Built by: Nobiskrug, the same German shipyard that built Sailing Yacht A . Both interior and exterior were created by Focus Yacht Design, and the yacht was launched in 2013 with a cost of $80 million.

Owned by: British businessman Sir Leonard Blavatnik. Founder of Access Industries — a multinational industrial group with current holdings in Warner Music Group, Spotify and the Grand-Hôtel du Cap-Ferrat — he is worth $39.9 billion.

Key features: 74 metres in length / 6 guest cabins / Top speed of 18 knots / Intimate beach club / Baby grand piano / Private master cabhin terrace / Outdoor cinema

Nautilus, owned by Thierry Stern

american yacht owners

Built by: Italian shipyard Perini Navi in 2014. With interiors by Rémi Tessier and exterior design by Philippe Briand, Nautilus was estimated to cost around $90 million to construct.

Owned by: Patek Philippe CEO Thierry Stern. Alongside his Gulstream G650 private jet, Nautilus — named for the famous sports watch — is his most costly mode of transport. His current net worth is $3 billion.

Key features: 73 metres in length / 7 guest cabins / Top speed of 16.5 knots / Dedicated wellness deck / 3.5 metre resistance pool / Underfloor heating / Jet Skis

Silver Angel, owned by Richard Caring

american yacht owners

Built by: Luxury Italian boatbuilder Benetti. Launched in 2009, the yacht’s interior has been designed by Argent Design and her exterior styling is by Stefano Natucci.

Owned by: Richard Caring, British businessman and multi-millionaire (his wealth peaked at £1.05 billion, so he still makes the cut). Chairman of Caprice Holdings, he owns The Ivy restaurants.

Key features: 64.5 metres in length / Cruising speed of 15 knots / 7 guest cabins / Lalique decor / 5 decks / Oval Jacuzzi pool / Sun deck bar / Aft deck dining table

Lady Beatrice, owned by Frederick Barclay

american yacht owners

Built by: Feadship and Royal Van Lent in 1993. Exteriors were created by De Voogt Naval Architects, with interiors by Bannenberg Designs. She cost the equivalent of £63 million to build.

Owned by: Sir David Barclay and his late brother Sir Frederick. The ‘Barclay Brothers’ had joint business pursuits including The Spectator , The Telegraph and delivery company Yodel. Current net worth: £7 billion.

Key features: 60 metres in length / 18 knots maximum speed / Monaco home port / Named for the brothers’ mother, Beatrice Cecelia Taylor / 8 guest cabins

Space, owned by Laurence Graff

american yacht owners

Built by: Space was the first in Feadship’s F45 Vantage series , styled by Sinot Exclusive Yacht Design and launched in 2007. She cost a reported $25 million to construct.

Owned by: Laurence Graff, English jeweller and billionaire businessman. As the founder of Graff Diamonds, he has a global business presence and a current net worth of $6.26 billion.

Key features: 45 metres in length / Top speed of 16 knots / Al fresco dining area / Sun deck Jacuzzi / Breakfast bar / Swimming platform / Steam room

Want more yachts? Here’s the handcradfted, homegrown history of Princess…

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By SuperyachtNews 15 Aug 2022

The evolution of the American Yachtsman

Bob denison discusses target demographics and the reality of the current yacht market...….

Image for article The evolution of the American Yachtsman

Bob Denison, the Founder and President of Denison Yacht Sales , has outlined the company's targets for the remainder of the year. In an exclusive interview with SuperyachtNews , Denison discusses the typical American yachtsmen, the illusion of younger yacht owners, fractional ownership, Dollar vs Euro Parity, and the future of charter. 

First and foremost, Denison has stated that his focus, for now, is on the rest of the American Season following a frenzy of charter activity in the Northeast - he expects this to last another 6-8 weeks. Following on from that, the focus is to hit the big boat shows hard. Denison is ‘very optimistically getting ready’ for the major yachting events in both the Mediterranean and the US.

Now is a very interesting and exciting time to be a yacht broker due to the Dollar to Euro parity. It means that buyers purchasing a yacht with US dollars can get a lot more bang for their buck. The more expensive the yacht, the more the relative savings will be as a result of the exchange rate. The record low Euro-to-Dollar ratio will also affect the superyacht charter sector. Just as with the purchase of a yacht, paying for a yacht charter in euros can mean huge savings.

Speaking on the significance of the current exchange rate, Denison said, “It's giving Americans even more of a reason to look at projects in Europe. It is absolutely a spectacular opportunity for European builders. Perhaps not such good news for the remaining U.S. builders, which of course there are only a few. We've seen increased activity not only for new construction projects but also for brokerage inventory that's in Europe. So we as Americans, of course, like to take advantage of moments like this. I guess the question is going to be whether this is a temporary parity or if it's going to be here to stay for a while. I'm not an economist, so I have no idea...

"We absolutely expect more activity from our American clients looking for opportunities over in Europe.”

The superyacht industry is not just about Northern Europe and Italy making superyachts for wealthy Americans. However, from a brokerage perspective, that winning formula has not changed too drastically over the years. Sometimes, it only takes a few headlines to break into the echo chamber for stakeholders to start generalising client pools and focusing too much on trends that haven’t yet been backed up by hard data. Probably one of the most popular notions is that superyacht owners are getting younger.

american yacht owners

According to data from The Superyacht Agency , which is set to appear in the upcoming The Superyacht Owners Report , there is little to suggest that clients are actually getting younger. According to Denison, their core audience has and probably always will be American Families. While it can be exciting for the broader public to see celebrity superyacht users in publications such as TMZ and The Sun, the reality is that they make up a very small percentage of the market. There is still a lot of money coming out from the tech industry and from real estate development in America, and they still tend to be the best places to find potential yacht owners.

When Denison was asked about whether or not yacht owners were actually getting younger, he replied, “Yeah…no… its bullsh*t. I wouldn't say that. I mean, I would say the average age of our clients is probably a little bit younger than it was a few years ago, but perhaps by a few years, not decades. It'll be interesting to see how this plays out over the next 5 to 10 years. I really do believe there's going to be a major influx of people in their twenties and thirties. But I think we're going to see a decent chunk of that demographic in chartering. We are going to see more peer-to-peer models, boat clubs and fractional ownership platforms. 

american yacht owners

Denison continues, “We're constantly evaluating opportunities to support that demographic, that includes our re-investment in developing and building our charter departments. But overall, I think too many firms in our industry have spent way too much time and money trying to figure out how to attract a 28-year-old into the world of yachting when the majority of people buying and selling yachts around the world are significantly older than that. And I think sometimes brokers can get very seriously distracted from their core clients because of the alluded potential...

"As an industry, we truly market to and focus on older demographics much, much more than we probably like to admit.”

From a financial standpoint, a superyacht is an awful idea. You are far more likely to attract someone to the idea of a superyacht when they are in their retirement years, with lots of money in the bank, and lots of time to spend making precious memories with their loved ones. It is inevitably going to be much harder to attract someone when they are in their 'money-making years'. Therefore, as Denison suggests, it could be a better idea to focus on making the industry futureproof and preparing for the next generation, instead of desperately trying to manipulate the reality of who superyacht owners typically tend to be.

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The Haves and the Have-Yachts

By Evan Osnos

In the Victorian era, it was said that the length of a man’s boat, in feet, should match his age, in years. The Victorians would have had some questions at the fortieth annual Palm Beach International Boat Show, which convened this March on Florida’s Gold Coast. A typical offering: a two-hundred-and-three-foot superyacht named Sea Owl, selling secondhand for ninety million dollars. The owner, Robert Mercer, the hedge-fund tycoon and Republican donor, was throwing in furniture and accessories, including several auxiliary boats, a Steinway piano, a variety of frescoes, and a security system that requires fingerprint recognition. Nevertheless, Mercer’s package was a modest one; the largest superyachts are more than five hundred feet, on a scale with naval destroyers, and cost six or seven times what he was asking.

For the small, tight-lipped community around the world’s biggest yachts, the Palm Beach show has the promising air of spring training. On the cusp of the summer season, it affords brokers and builders and owners (or attendants from their family offices) a chance to huddle over the latest merchandise and to gather intelligence: Who’s getting in? Who’s getting out? And, most pressingly, who’s ogling a bigger boat?

On the docks, brokers parse the crowd according to a taxonomy of potential. Guests asking for tours face a gantlet of greeters, trained to distinguish “superrich clients” from “ineligible visitors,” in the words of Emma Spence, a former greeter at the Palm Beach show. Spence looked for promising clues (the right shoes, jewelry, pets) as well as for red flags (cameras, ornate business cards, clothes with pop-culture references). For greeters from elsewhere, Palm Beach is a challenging assignment. Unlike in Europe, where money can still produce some visible tells—Hunter Wellies, a Barbour jacket—the habits of wealth in Florida offer little that’s reliable. One colleague resorted to binoculars, to spot a passerby with a hundred-thousand-dollar watch. According to Spence, people judged to have insufficient buying power are quietly marked for “dissuasion.”

For the uninitiated, a pleasure boat the length of a football field can be bewildering. Andy Cohen, the talk-show host, recalled his first visit to a superyacht owned by the media mogul Barry Diller: “I was like the Beverly Hillbillies.” The boats have grown so vast that some owners place unique works of art outside the elevator on each deck, so that lost guests don’t barge into the wrong stateroom.

At the Palm Beach show, I lingered in front of a gracious vessel called Namasté, until I was dissuaded by a wooden placard: “Private yacht, no boarding, no paparazzi.” In a nearby berth was a two-hundred-and-eighty-foot superyacht called Bold, which was styled like a warship, with its own helicopter hangar, three Sea-Doos, two sailboats, and a color scheme of gunmetal gray. The rugged look is a trend; “explorer” vessels, equipped to handle remote journeys, are the sport-utility vehicles of yachting.

If you hail from the realm of ineligible visitors, you may not be aware that we are living through the “greatest boom in the yacht business that’s ever existed,” as Bob Denison—whose firm, Denison Yachting, is one of the world’s largest brokers—told me. “Every broker, every builder, up and down the docks, is having some of the best years they’ve ever experienced.” In 2021, the industry sold a record eight hundred and eighty-seven superyachts worldwide, nearly twice the previous year’s total. With more than a thousand new superyachts on order, shipyards are so backed up that clients unaccustomed to being told no have been shunted to waiting lists.

One reason for the increased demand for yachts is the pandemic. Some buyers invoke social distancing; others, an existential awakening. John Staluppi, of Palm Beach Gardens, who made a fortune from car dealerships, is looking to upgrade from his current, sixty-million-dollar yacht. “When you’re forty or fifty years old, you say, ‘I’ve got plenty of time,’ ” he told me. But, at seventy-five, he is ready to throw in an extra fifteen million if it will spare him three years of waiting. “Is your life worth five million dollars a year? I think so,” he said. A deeper reason for the demand is the widening imbalance of wealth. Since 1990, the United States’ supply of billionaires has increased from sixty-six to more than seven hundred, even as the median hourly wage has risen only twenty per cent. In that time, the number of truly giant yachts—those longer than two hundred and fifty feet—has climbed from less than ten to more than a hundred and seventy. Raphael Sauleau, the C.E.O. of Fraser Yachts, told me bluntly, “ COVID and wealth—a perfect storm for us.”

And yet the marina in Palm Beach was thrumming with anxiety. Ever since the Russian President, Vladimir Putin, launched his assault on Ukraine, the superyacht world has come under scrutiny. At a port in Spain, a Ukrainian engineer named Taras Ostapchuk, working aboard a ship that he said was owned by a Russian arms dealer, threw open the sea valves and tried to sink it to the bottom of the harbor. Under arrest, he told a judge, “I would do it again.” Then he returned to Ukraine and joined the military. Western allies, in the hope of pressuring Putin to withdraw, have sought to cut off Russian oligarchs from businesses and luxuries abroad. “We are coming for your ill-begotten gains,” President Joe Biden declared, in his State of the Union address.

Nobody can say precisely how many of Putin’s associates own superyachts—known to professionals as “white boats”—because the white-boat world is notoriously opaque. Owners tend to hide behind shell companies, registered in obscure tax havens, attended by private bankers and lawyers. But, with unusual alacrity, authorities have used subpoenas and police powers to freeze boats suspected of having links to the Russian élite. In Spain, the government detained a hundred-and-fifty-million-dollar yacht associated with Sergei Chemezov, the head of the conglomerate Rostec, whose bond with Putin reaches back to their time as K.G.B. officers in East Germany. (As in many cases, the boat is not registered to Chemezov; the official owner is a shell company connected to his stepdaughter, a teacher whose salary is likely about twenty-two hundred dollars a month.) In Germany, authorities impounded the world’s most voluminous yacht, Dilbar, for its ties to the mining-and-telecom tycoon Alisher Usmanov. And in Italy police have grabbed a veritable armada, including a boat owned by one of Russia’s richest men, Alexei Mordashov, and a colossus suspected of belonging to Putin himself, the four-hundred-and-fifty-nine-foot Scheherazade.

In Palm Beach, the yachting community worried that the same scrutiny might be applied to them. “Say your superyacht is in Asia, and there’s some big conflict where China invades Taiwan,” Denison told me. “China could spin it as ‘Look at these American oligarchs!’ ” He wondered if the seizures of superyachts marked a growing political animus toward the very rich. “Whenever things are economically or politically disruptive,” he said, “it’s hard to justify taking an insane amount of money and just putting it into something that costs a lot to maintain, depreciates, and is only used for having a good time.”

Nobody pretends that a superyacht is a productive place to stash your wealth. In a column this spring headlined “ A SUPERYACHT IS A TERRIBLE ASSET ,” the Financial Times observed, “Owning a superyacht is like owning a stack of 10 Van Goghs, only you are holding them over your head as you tread water, trying to keep them dry.”

Not so long ago, status transactions among the élite were denominated in Old Masters and in the sculptures of the Italian Renaissance. Joseph Duveen, the dominant art dealer of the early twentieth century, kept the oligarchs of his day—Andrew Mellon, Jules Bache, J. P. Morgan—jockeying over Donatellos and Van Dycks. “When you pay high for the priceless,” he liked to say, “you’re getting it cheap.”

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In the nineteen-fifties, the height of aspirational style was fine French furniture—F.F.F., as it became known in certain precincts of Fifth Avenue and Palm Beach. Before long, more and more money was going airborne. Hugh Hefner, a pioneer in the private-jet era, decked out a plane he called Big Bunny, where he entertained Elvis Presley, Raquel Welch, and James Caan. The oil baron Armand Hammer circled the globe on his Boeing 727, paying bribes and recording evidence on microphones hidden in his cufflinks. But, once it seemed that every plutocrat had a plane, the thrill was gone.

In any case, an airplane is just transportation. A big ship is a floating manse, with a hierarchy written right into the nomenclature. If it has a crew working aboard, it’s a yacht. If it’s more than ninety-eight feet, it’s a superyacht. After that, definitions are debated, but people generally agree that anything more than two hundred and thirty feet is a megayacht, and more than two hundred and ninety-five is a gigayacht. The world contains about fifty-four hundred superyachts, and about a hundred gigayachts.

For the moment, a gigayacht is the most expensive item that our species has figured out how to own. In 2019, the hedge-fund billionaire Ken Griffin bought a quadruplex on Central Park South for two hundred and forty million dollars, the highest price ever paid for a home in America. In May, an unknown buyer spent about a hundred and ninety-five million on an Andy Warhol silk-screen portrait of Marilyn Monroe. In luxury-yacht terms, those are ordinary numbers. “There are a lot of boats in build well over two hundred and fifty million dollars,” Jamie Edmiston, a broker in Monaco and London, told me. His buyers are getting younger and more inclined to spend long stretches at sea. “High-speed Internet, telephony, modern communications have made working easier,” he said. “Plus, people made a lot more money earlier in life.”

A Silicon Valley C.E.O. told me that one appeal of boats is that they can “absorb the most excess capital.” He explained, “Rationally, it would seem to make sense for people to spend half a billion dollars on their house and then fifty million on the boat that they’re on for two weeks a year, right? But it’s gone the other way. People don’t want to live in a hundred-thousand-square-foot house. Optically, it’s weird. But a half-billion-dollar boat, actually, is quite nice.” Staluppi, of Palm Beach Gardens, is content to spend three or four times as much on his yachts as on his homes. Part of the appeal is flexibility. “If you’re on your boat and you don’t like your neighbor, you tell the captain, ‘Let’s go to a different place,’ ” he said. On land, escaping a bad neighbor requires more work: “You got to try and buy him out or make it uncomfortable or something.” The preference for sea-based investment has altered the proportions of taste. Until recently, the Silicon Valley C.E.O. said, “a fifty-metre boat was considered a good-sized boat. Now that would be a little bit embarrassing.” In the past twenty years, the length of the average luxury yacht has grown by a third, to a hundred and sixty feet.

Thorstein Veblen, the economist who published “The Theory of the Leisure Class,” in 1899, argued that the power of “conspicuous consumption” sprang not from artful finery but from sheer needlessness. “In order to be reputable,” he wrote, “it must be wasteful.” In the yachting world, stories circulate about exotic deliveries by helicopter or seaplane: Dom Pérignon, bagels from Zabar’s, sex workers, a rare melon from the island of Hokkaido. The industry excels at selling you things that you didn’t know you needed. When you flip through the yachting press, it’s easy to wonder how you’ve gone this long without a personal submarine, or a cryosauna that “blasts you with cold” down to minus one hundred and ten degrees Celsius, or the full menagerie of “exclusive leathers,” such as eel and stingray.

But these shrines to excess capital exist in a conditional state of visibility: they are meant to be unmistakable to a slender stratum of society—and all but unseen by everyone else. Even before Russia’s invasion of Ukraine, the yachting community was straining to manage its reputation as a gusher of carbon emissions (one well-stocked diesel yacht is estimated to produce as much greenhouse gas as fifteen hundred passenger cars), not to mention the fact that the world of white boats is overwhelmingly white. In a candid aside to a French documentarian, the American yachtsman Bill Duker said, “If the rest of the world learns what it’s like to live on a yacht like this, they’re gonna bring back the guillotine.” The Dutch press recently reported that Jeff Bezos, the founder of Amazon, was building a sailing yacht so tall that the city of Rotterdam might temporarily dismantle a bridge that had survived the Nazis in order to let the boat pass to the open sea. Rotterdammers were not pleased. On Facebook, a local man urged people to “take a box of rotten eggs with you and let’s throw them en masse at Jeff’s superyacht when it sails through.” At least thirteen thousand people expressed interest. Amid the uproar, a deputy mayor announced that the dismantling plan had been abandoned “for the time being.” (Bezos modelled his yacht partly on one owned by his friend Barry Diller, who has hosted him many times. The appreciation eventually extended to personnel, and Bezos hired one of Diller’s captains.)

As social media has heightened the scrutiny of extraordinary wealth, some of the very people who created those platforms have sought less observable places to spend it. But they occasionally indulge in some coded provocation. In 2006, when the venture capitalist Tom Perkins unveiled his boat in Istanbul, most passersby saw it adorned in colorful flags, but people who could read semaphore were able to make out a message: “Rarely does one have the privilege to witness vulgar ostentation displayed on such a scale.” As a longtime owner told me, “If you don’t have some guilt about it, you’re a rat.”

Alex Finley, a former C.I.A. officer who has seen yachts proliferate near her home in Barcelona, has weighed the superyacht era and its discontents in writings and on Twitter, using the hashtag #YachtWatch. “To me, the yachts are not just yachts,” she told me. “In Russia’s case, these are the embodiment of oligarchs helping a dictator destabilize our democracy while utilizing our democracy to their benefit.” But, Finley added, it’s a mistake to think the toxic symbolism applies only to Russia. “The yachts tell a whole story about a Faustian capitalism—this idea that we’re ready to sell democracy for short-term profit,” she said. “They’re registered offshore. They use every loophole that we’ve put in place for illicit money and tax havens. So they play a role in this battle, writ large, between autocracy and democracy.”

After a morning on the docks at the Palm Beach show, I headed to a more secluded marina nearby, which had been set aside for what an attendant called “the really big hardware.” It felt less like a trade show than like a boutique resort, with a swimming pool and a terrace restaurant. Kevin Merrigan, a relaxed Californian with horn-rimmed glasses and a high forehead pinked by the sun, was waiting for me at the stern of Unbridled, a superyacht with a brilliant blue hull that gave it the feel of a personal cruise ship. He invited me to the bridge deck, where a giant screen showed silent video of dolphins at play.

Merrigan is the chairman of the brokerage Northrop & Johnson, which has ridden the tide of growing boats and wealth since 1949. Lounging on a sofa mounded with throw pillows, he projected a nearly postcoital level of contentment. He had recently sold the boat we were on, accepted an offer for a behemoth beside us, and begun negotiating the sale of yet another. “This client owns three big yachts,” he said. “It’s a hobby for him. We’re at a hundred and ninety-one feet now, and last night he said, ‘You know, what do you think about getting a two hundred and fifty?’ ” Merrigan laughed. “And I was, like, ‘Can’t you just have dinner?’ ”

Among yacht owners, there are some unwritten rules of stratification: a Dutch-built boat will hold its value better than an Italian; a custom design will likely get more respect than a “series yacht”; and, if you want to disparage another man’s boat, say that it looks like a wedding cake. But, in the end, nothing says as much about a yacht, or its owner, as the delicate matter of L.O.A.—length over all.

The imperative is not usually length for length’s sake (though the longtime owner told me that at times there is an aspect of “phallic sizing”). “L.O.A.” is a byword for grandeur. In most cases, pleasure yachts are permitted to carry no more than twelve passengers, a rule set by the International Convention for the Safety of Life at Sea, which was conceived after the sinking of the Titanic. But those limits do not apply to crew. “So, you might have anything between twelve and fifty crew looking after those twelve guests,” Edmiston, the broker, said. “It’s a level of service you cannot really contemplate until you’ve been fortunate enough to experience it.”

As yachts have grown more capacious, and the limits on passengers have not, more and more space on board has been devoted to staff and to novelties. The latest fashions include IMAX theatres, hospital equipment that tests for dozens of pathogens, and ski rooms where guests can suit up for a helicopter trip to a mountaintop. The longtime owner, who had returned the previous day from his yacht, told me, “No one today—except for assholes and ridiculous people—lives on land in what you would call a deep and broad luxe life. Yes, people have nice houses and all of that, but it’s unlikely that the ratio of staff to them is what it is on a boat.” After a moment, he added, “Boats are the last place that I think you can get away with it.”

Even among the truly rich, there is a gap between the haves and the have-yachts. One boating guest told me about a conversation with a famous friend who keeps one of the world’s largest yachts. “He said, ‘The boat is the last vestige of what real wealth can do.’ What he meant is, You have a chef, and I have a chef. You have a driver, and I have a driver. You can fly privately, and I fly privately. So, the one place where I can make clear to the world that I am in a different fucking category than you is the boat.”

After Merrigan and I took a tour of Unbridled, he led me out to a waiting tender, staffed by a crew member with an earpiece on a coil. The tender, Merrigan said, would ferry me back to the busy main dock of the Palm Beach show. We bounced across the waves under a pristine sky, and pulled into the marina, where my fellow-gawkers were still trying to talk their way past the greeters. As I walked back into the scrum, Namasté was still there, but it looked smaller than I remembered.

For owners and their guests, a white boat provides a discreet marketplace for the exchange of trust, patronage, and validation. To diagram the precise workings of that trade—the customs and anxieties, strategies and slights—I talked to Brendan O’Shannassy, a veteran captain who is a curator of white-boat lore. Raised in Western Australia, O’Shannassy joined the Navy as a young man, and eventually found his way to skippering some of the world’s biggest yachts. He has worked for Paul Allen, the late co-founder of Microsoft, along with a few other billionaires he declines to name. Now in his early fifties, with patient green eyes and tufts of curly brown hair, O’Shannassy has had a vantage from which to monitor the social traffic. “It’s all gracious, and everyone’s kiss-kiss,” he said. “But there’s a lot going on in the background.”

O’Shannassy once worked for an owner who limited the number of newspapers on board, so that he could watch his guests wait and squirm. “It was a mind game amongst the billionaires. There were six couples, and three newspapers,” he said, adding, “They were ranking themselves constantly.” On some boats, O’Shannassy has found himself playing host in the awkward minutes after guests arrive. “A lot of them are savants, but some are very un-socially aware,” he said. “They need someone to be social and charming for them.” Once everyone settles in, O’Shannassy has learned, there is often a subtle shift, when a mogul or a politician or a pop star starts to loosen up in ways that are rarely possible on land. “Your security is relaxed—they’re not on your hip,” he said. “You’re not worried about paparazzi. So you’ve got all this extra space, both mental and physical.”

O’Shannassy has come to see big boats as a space where powerful “solar systems” converge and combine. “It is implicit in every interaction that their sharing of information will benefit both parties; it is an obsession with billionaires to do favours for each other. A referral, an introduction, an insight—it all matters,” he wrote in “Superyacht Captain,” a new memoir. A guest told O’Shannassy that, after a lavish display of hospitality, he finally understood the business case for buying a boat. “One deal secured on board will pay it all back many times over,” the guest said, “and it is pretty hard to say no after your kids have been hosted so well for a week.”

Take the case of David Geffen, the former music and film executive. He is long retired, but he hosts friends (and potential friends) on the four-hundred-and-fifty-four-foot Rising Sun, which has a double-height cinema, a spa and salon, and a staff of fifty-seven. In 2017, shortly after Barack and Michelle Obama departed the White House, they were photographed on Geffen’s boat in French Polynesia, accompanied by Bruce Springsteen, Oprah Winfrey, Tom Hanks, and Rita Wilson. For Geffen, the boat keeps him connected to the upper echelons of power. There are wealthier Americans, but not many of them have a boat so delectable that it can induce both a Democratic President and the workingman’s crooner to risk the aroma of hypocrisy.

The binding effect pays dividends for guests, too. Once people reach a certain level of fame, they tend to conclude that its greatest advantage is access. Spend a week at sea together, lingering over meals, observing one another floundering on a paddleboard, and you have something of value for years to come. Call to ask for an investment, an introduction, an internship for a wayward nephew, and you’ll at least get the call returned. It’s a mutually reinforcing circle of validation: she’s here, I’m here, we’re here.

But, if you want to get invited back, you are wise to remember your part of the bargain. If you work with movie stars, bring fresh gossip. If you’re on Wall Street, bring an insight or two. Don’t make the transaction obvious, but don’t forget why you’re there. “When I see the guest list,” O’Shannassy wrote, “I am aware, even if not all names are familiar, that all have been chosen for a purpose.”

For O’Shannassy, there is something comforting about the status anxieties of people who have everything. He recalled a visit to the Italian island of Sardinia, where his employer asked him for a tour of the boats nearby. Riding together on a tender, they passed one colossus after another, some twice the size of the owner’s superyacht. Eventually, the man cut the excursion short. “Take me back to my yacht, please,” he said. They motored in silence for a while. “There was a time when my yacht was the most beautiful in the bay,” he said at last. “How do I keep up with this new money?”

The summer season in the Mediterranean cranks up in May, when the really big hardware heads east from Florida and the Caribbean to escape the coming hurricanes, and reconvenes along the coasts of France, Italy, and Spain. At the center is the Principality of Monaco, the sun-washed tax haven that calls itself the “world’s capital of advanced yachting.” In Monaco, which is among the richest countries on earth, superyachts bob in the marina like bath toys.

Angry child yells at music teacher.

The nearest hotel room at a price that would not get me fired was an Airbnb over the border with France. But an acquaintance put me on the phone with the Yacht Club de Monaco, a members-only establishment created by the late monarch His Serene Highness Prince Rainier III, whom the Web site describes as “a true visionary in every respect.” The club occasionally rents rooms—“cabins,” as they’re called—to visitors in town on yacht-related matters. Claudia Batthyany, the elegant director of special projects, showed me to my cabin and later explained that the club does not aspire to be a hotel. “We are an association ,” she said. “Otherwise, it becomes”—she gave a gentle wince—“not that exclusive.”

Inside my cabin, I quickly came to understand that I would never be fully satisfied anywhere else again. The space was silent and aromatically upscale, bathed in soft sunlight that swept through a wall of glass overlooking the water. If I was getting a sudden rush of the onboard experience, that was no accident. The clubhouse was designed by the British architect Lord Norman Foster to evoke the opulent indulgence of ocean liners of the interwar years, like the Queen Mary. I found a handwritten welcome note, on embossed club stationery, set alongside an orchid and an assemblage of chocolate truffles: “The whole team remains at your entire disposal to make your stay a wonderful experience. Yours sincerely, Service Members.” I saluted the nameless Service Members, toiling for the comfort of their guests. Looking out at the water, I thought, intrusively, of a line from Santiago, Hemingway’s old man of the sea. “Do not think about sin,” he told himself. “It is much too late for that and there are people who are paid to do it.”

I had been assured that the Service Members would cheerfully bring dinner, as they might on board, but I was eager to see more of my surroundings. I consulted the club’s summer dress code. It called for white trousers and a blue blazer, and it discouraged improvisation: “No pocket handkerchief is to be worn above the top breast-pocket bearing the Club’s coat of arms.” The handkerchief rule seemed navigable, but I did not possess white trousers, so I skirted the lobby and took refuge in the bar. At a table behind me, a man with flushed cheeks and a British accent had a head start. “You’re a shitty negotiator,” he told another man, with a laugh. “Maybe sales is not your game.” A few seats away, an American woman was explaining to a foreign friend how to talk with conservatives: “If they say, ‘The earth is flat,’ you say, ‘Well, I’ve sailed around it, so I’m not so sure about that.’ ”

In the morning, I had an appointment for coffee with Gaëlle Tallarida, the managing director of the Monaco Yacht Show, which the Daily Mail has called the “most shamelessly ostentatious display of yachts in the world.” Tallarida was not born to that milieu; she grew up on the French side of the border, swimming at public beaches with a view of boats sailing from the marina. But she had a knack for highly organized spectacle. While getting a business degree, she worked on a student theatre festival and found it thrilling. Afterward, she got a job in corporate events, and in 1998 she was hired at the yacht show as a trainee.

With this year’s show five months off, Tallarida was already getting calls about what she described as “the most complex part of my work”: deciding which owners get the most desirable spots in the marina. “As you can imagine, they’ve got very big egos,” she said. “On top of that, I’m a woman. They are sometimes arriving and saying”—she pointed into the distance, pantomiming a decree—“ ‘O.K., I want that!  ’ ”

Just about everyone wants his superyacht to be viewed from the side, so that its full splendor is visible. Most harbors, however, have a limited number of berths with a side view; in Monaco, there are only twelve, with prime spots arrayed along a concrete dike across from the club. “We reserve the dike for the biggest yachts,” Tallarida said. But try telling that to a man who blew his fortune on a small superyacht.

Whenever possible, Tallarida presents her verdicts as a matter of safety: the layout must insure that “in case of an emergency, any boat can go out.” If owners insist on preferential placement, she encourages a yachting version of the Golden Rule: “What if, next year, I do that to you? Against you?”

Does that work? I asked. She shrugged. “They say, ‘Eh.’ ” Some would gladly risk being a victim next year in order to be a victor now. In the most awful moment of her career, she said, a man who was unhappy with his berth berated her face to face. “I was in the office, feeling like a little girl, with my daddy shouting at me. I said, ‘O.K., O.K., I’m going to give you the spot.’ ”

Securing just the right place, it must be said, carries value. Back at the yacht club, I was on my terrace, enjoying the latest delivery by the Service Members—an airy French omelette and a glass of preternaturally fresh orange juice. I thought guiltily of my wife, at home with our kids, who had sent a text overnight alerting me to a maintenance issue that she described as “a toilet debacle.”

Then I was distracted by the sight of a man on a yacht in the marina below. He was staring up at me. I went back to my brunch, but, when I looked again, there he was—a middle-aged man, on a mid-tier yacht, juiceless, on a greige banquette, staring up at my perfect terrace. A surprising sensation started in my chest and moved outward like a warm glow: the unmistakable pang of superiority.

That afternoon, I made my way to the bar, to meet the yacht club’s general secretary, Bernard d’Alessandri, for a history lesson. The general secretary was up to code: white trousers, blue blazer, club crest over the heart. He has silver hair, black eyebrows, and a tan that evokes high-end leather. “I was a sailing teacher before this,” he said, and gestured toward the marina. “It was not like this. It was a village.”

Before there were yacht clubs, there were jachten , from the Dutch word for “hunt.” In the seventeenth century, wealthy residents of Amsterdam created fast-moving boats to meet incoming cargo ships before they hit port, in order to check out the merchandise. Soon, the Dutch owners were racing one another, and yachting spread across Europe. After a visit to Holland in 1697, Peter the Great returned to Russia with a zeal for pleasure craft, and he later opened Nevsky Flot, one of the world’s first yacht clubs, in St. Petersburg.

For a while, many of the biggest yachts were symbols of state power. In 1863, the viceroy of Egypt, Isma’il Pasha, ordered up a steel leviathan called El Mahrousa, which was the world’s longest yacht for a remarkable hundred and nineteen years, until the title was claimed by King Fahd of Saudi Arabia. In the United States, Franklin Delano Roosevelt received guests aboard the U.S.S. Potomac, which had a false smokestack containing a hidden elevator, so that the President could move by wheelchair between decks.

But yachts were finding new patrons outside politics. In 1954, the Greek shipping baron Aristotle Onassis bought a Canadian Navy frigate and spent four million dollars turning it into Christina O, which served as his home for months on end—and, at various times, as a home to his companions Maria Callas, Greta Garbo, and Jacqueline Kennedy. Christina O had its flourishes—a Renoir in the master suite, a swimming pool with a mosaic bottom that rose to become a dance floor—but none were more distinctive than the appointments in the bar, which included whales’ teeth carved into pornographic scenes from the Odyssey and stools upholstered in whale foreskins.

For Onassis, the extraordinary investments in Christina O were part of an epic tit for tat with his archrival, Stavros Niarchos, a fellow shipping tycoon, which was so entrenched that it continued even after Onassis’s death, in 1975. Six years later, Niarchos launched a yacht fifty-five feet longer than Christina O: Atlantis II, which featured a swimming pool on a gyroscope so that the water would not slosh in heavy seas. Atlantis II, now moored in Monaco, sat before the general secretary and me as we talked.

Over the years, d’Alessandri had watched waves of new buyers arrive from one industry after another. “First, it was the oil. After, it was the telecommunications. Now, they are making money with crypto,” he said. “And, each time, it’s another size of the boat, another design.” What began as symbols of state power had come to represent more diffuse aristocracies—the fortunes built on carbon, capital, and data that migrated across borders. As early as 1908, the English writer G. K. Chesterton wondered what the big boats foretold of a nation’s fabric. “The poor man really has a stake in the country,” he wrote. “The rich man hasn’t; he can go away to New Guinea in a yacht.”

Each iteration of fortune left its imprint on the industry. Sheikhs, who tend to cruise in the world’s hottest places, wanted baroque indoor spaces and were uninterested in sundecks. Silicon Valley favored acres of beige, more Sonoma than Saudi. And buyers from Eastern Europe became so abundant that shipyards perfected the onboard banya , a traditional Russian sauna stocked with birch and eucalyptus. The collapse of the Soviet Union, in 1991, had minted a generation of new billionaires, whose approach to money inspired a popular Russian joke: One oligarch brags to another, “Look at this new tie. It cost me two hundred bucks!” To which the other replies, “You moron. You could’ve bought the same one for a thousand!”

In 1998, around the time that the Russian economy imploded, the young tycoon Roman Abramovich reportedly bought a secondhand yacht called Sussurro—Italian for “whisper”—which had been so carefully engineered for speed that each individual screw was weighed before installation. Soon, Russians were competing to own the costliest ships. “If the most expensive yacht in the world was small, they would still want it,” Maria Pevchikh, a Russian investigator who helps lead the Anti-Corruption Foundation, told me.

In 2008, a thirty-six-year-old industrialist named Andrey Melnichenko spent some three hundred million dollars on Motor Yacht A, a radical experiment conceived by the French designer Philippe Starck, with a dagger-shaped hull and a bulbous tower topped by a master bedroom set on a turntable that pivots to capture the best view. The shape was ridiculed as “a giant finger pointing at you” and “one of the most hideous vessels ever to sail,” but it marked a new prominence for Russian money at sea. Today, post-Soviet élites are thought to own a fifth of the world’s gigayachts.

Even Putin has signalled his appreciation, being photographed on yachts in the Black Sea resort of Sochi. In an explosive report in 2012, Boris Nemtsov, a former Deputy Prime Minister, accused Putin of amassing a storehouse of outrageous luxuries, including four yachts, twenty homes, and dozens of private aircraft. Less than three years later, Nemtsov was fatally shot while crossing a bridge near the Kremlin. The Russian government, which officially reports that Putin collects a salary of about a hundred and forty thousand dollars and possesses a modest apartment in Moscow, denied any involvement.

Many of the largest, most flamboyant gigayachts are designed in Monaco, at a sleek waterfront studio occupied by the naval architect Espen Øino. At sixty, Øino has a boyish mop and the mild countenance of a country parson. He grew up in a small town in Norway, the heir to a humble maritime tradition. “My forefathers built wooden rowing boats for four generations,” he told me. In the late eighties, he was designing sailboats when his firm won a commission to design a megayacht for Emilio Azcárraga, the autocratic Mexican who built Televisa into the world’s largest Spanish-language broadcaster. Azcárraga was nicknamed El Tigre, for his streak of white hair and his comfort with confrontation; he kept a chair in his office that was unusually high off the ground, so that visitors’ feet dangled like children’s.

In early meetings, Øino recalled, Azcárraga grew frustrated that the ideas were not dazzling enough. “You must understand,” he said. “I don’t go to port very often with my boats, but, when I do, I want my presence to be felt.”

The final design was suitably arresting; after the boat was completed, Øino had no shortage of commissions. In 1998, he was approached by Paul Allen, of Microsoft, to build a yacht that opened the way for the Goliaths that followed. The result, called Octopus, was so large that it contained a submarine marina in its belly, as well as a helicopter hangar that could be converted into an outdoor performance space. Mick Jagger and Bono played on occasion. I asked Øino why owners obsessed with secrecy seem determined to build the world’s most conspicuous machines. He compared it to a luxury car with tinted windows. “People can’t see you, but you’re still in that expensive, impressive thing,” he said. “We all need to feel that we’re important in one way or another.”

Two people standing on city sidewalk on hot summer day.

In recent months, Øino has seen some of his creations detained by governments in the sanctions campaign. When we spoke, he condemned the news coverage. “Yacht equals Russian equals evil equals money,” he said disdainfully. “It’s a bit tragic, because the yachts have become synonymous with the bad guys in a James Bond movie.”

What about Scheherazade, the giant yacht that U.S. officials have alleged is held by a Russian businessman for Putin’s use? Øino, who designed the ship, rejected the idea. “We have designed two yachts for heads of state, and I can tell you that they’re completely different, in terms of the layout and everything, from Scheherazade.” He meant that the details said plutocrat, not autocrat.

For the time being, Scheherazade and other Øino creations under detention across Europe have entered a strange legal purgatory. As lawyers for the owners battle to keep the ships from being permanently confiscated, local governments are duty-bound to maintain them until a resolution is reached. In a comment recorded by a hot mike in June, Jake Sullivan, the U.S. national-security adviser, marvelled that “people are basically being paid to maintain Russian superyachts on behalf of the United States government.” (It usually costs about ten per cent of a yacht’s construction price to keep it afloat each year. In May, officials in Fiji complained that a detained yacht was costing them more than a hundred and seventy-one thousand dollars a day.)

Stranger still are the Russian yachts on the lam. Among them is Melnichenko’s much maligned Motor Yacht A. On March 9th, Melnichenko was sanctioned by the European Union, and although he denied having close ties to Russia’s leadership, Italy seized one of his yachts—a six-hundred-million-dollar sailboat. But Motor Yacht A slipped away before anyone could grab it. Then the boat turned off the transponder required by international maritime rules, so that its location could no longer be tracked. The last ping was somewhere near the Maldives, before it went dark on the high seas.

The very largest yachts come from Dutch and German shipyards, which have experience in naval vessels, known as “gray boats.” But the majority of superyachts are built in Italy, partly because owners prefer to visit the Mediterranean during construction. (A British designer advises those who are weighing their choices to take the geography seriously, “unless you like schnitzel.”)

In the past twenty-two years, nobody has built more superyachts than the Vitellis, an Italian family whose patriarch, Paolo Vitelli, got his start in the seventies, manufacturing smaller boats near a lake in the mountains. By 1985, their company, Azimut, had grown large enough to buy the Benetti shipyards, which had been building enormous yachts since the nineteenth century. Today, the combined company builds its largest boats near the sea, but the family still works in the hill town of Avigliana, where a medieval monastery towers above a valley. When I visited in April, Giovanna Vitelli, the vice-president and the founder’s daughter, led me through the experience of customizing a yacht.

“We’re using more and more virtual reality,” she said, and a staffer fitted me with a headset. When the screen blinked on, I was inside a 3-D mockup of a yacht that is not yet on the market. I wandered around my suite for a while, checking out swivel chairs, a modish sideboard, blond wood panelling on the walls. It was convincing enough that I collided with a real-life desk.

After we finished with the headset, it was time to pick the décor. The industry encourages an introspective evaluation: What do you want your yacht to say about you? I was handed a vibrant selection of wood, marble, leather, and carpet. The choices felt suddenly grave. Was I cut out for the chiselled look of Cream Vesuvio, or should I accept that I’m a gray Cardoso Stone? For carpets, I liked the idea of Chablis Corn White—Paris and the prairie, together at last. But, for extra seating, was it worth splurging for the V.I.P. Vanity Pouf?

Some designs revolve around a single piece of art. The most expensive painting ever sold, Leonardo da Vinci’s “Salvator Mundi,” reportedly was hung on the Saudi crown prince Mohammed bin Salman’s four-hundred-and-thirty-nine-foot yacht Serene, after the Louvre rejected a Saudi demand that it hang next to the “Mona Lisa.” Art conservators blanched at the risks that excess humidity and fluctuating temperatures could pose to a five-hundred-year-old painting. Often, collectors who want to display masterpieces at sea commission replicas.

If you’ve just put half a billion dollars into a boat, you may have qualms about the truism that material things bring less happiness than experiences do. But this, too, can be finessed. Andrew Grant Super, a co-founder of the “experiential yachting” firm Berkeley Rand, told me that he served a uniquely overstimulated clientele: “We call them the bored billionaires.” He outlined a few of his experience products. “We can plot half of the Pacific Ocean with coördinates, to map out the Battle of Midway,” he said. “We re-create the full-blown battles of the giant ships from America and Japan. The kids have haptic guns and haptic vests. We put the smell of cordite and cannon fire on board, pumping around them.” For those who aren’t soothed by the scent of cordite, Super offered an alternative. “We fly 3-D-printed, architectural freestanding restaurants into the middle of the Maldives, on a sand shelf that can only last another eight hours before it disappears.”

For some, the thrill lies in the engineering. Staluppi, born in Brooklyn, was an auto mechanic who had no experience with the sea until his boss asked him to soup up a boat. “I took the six-cylinder engines out and put V-8 engines in,” he recalled. Once he started commissioning boats of his own, he built scale models to conduct tests in water tanks. “I knew I could never have the biggest boat in the world, so I says, ‘You know what? I want to build the fastest yacht in the world.’ The Aga Khan had the fastest yacht, and we just blew right by him.”

In Italy, after decking out my notional yacht, I headed south along the coast, to Tuscan shipyards that have evolved with each turn in the country’s history. Close to the Carrara quarries, which yielded the marble that Michelangelo turned into David, ships were constructed in the nineteenth century, to transport giant blocks of stone. Down the coast, the yards in Livorno made warships under the Fascists, until they were bombed by the Allies. Later, they began making and refitting luxury yachts. Inside the front gate of a Benetti shipyard in Livorno, a set of models depicted the firm’s famous modern creations. Most notable was the megayacht Nabila, built in 1980 for the high-living arms dealer Adnan Khashoggi, with a hundred rooms and a disco that was the site of legendary decadence. (Khashoggi’s budget for prostitution was so extravagant that a French prosecutor later estimated he paid at least half a million dollars to a single madam in a single year.)

In 1987, shortly before Khashoggi was indicted for mail fraud and obstruction of justice (he was eventually acquitted), the yacht was sold to the real-estate developer Donald Trump, who renamed it Trump Princess. Trump was never comfortable on a boat—“Couldn’t get off fast enough,” he once said—but he liked to impress people with his yacht’s splendor. In 1991, while three billion dollars in debt, Trump ceded the vessel to creditors. Later in life, though, he discovered enthusiastic support among what he called “our beautiful boaters,” and he came to see quality watercraft as a mark of virtue—a way of beating the so-called élite. “We got better houses, apartments, we got nicer boats, we’re smarter than they are,” he told a crowd in Fargo, North Dakota. “Let’s call ourselves, from now on, the super-élite.”

In the age of oversharing, yachts are a final sanctum of secrecy, even for some of the world’s most inveterate talkers. Oprah, after returning from her sojourn with the Obamas, rebuffed questions from reporters. “What happens on the boat stays on the boat,” she said. “We talked, and everybody else did a lot of paddleboarding.”

I interviewed six American superyacht owners at length, and almost all insisted on anonymity or held forth with stupefying blandness. “Great family time,” one said. Another confessed, “It’s really hard to talk about it without being ridiculed.” None needed to be reminded of David Geffen’s misadventure during the early weeks of the pandemic, when he Instagrammed a photo of his yacht in the Grenadines and posted that he was “avoiding the virus” and “hoping everybody is staying safe.” It drew thousands of responses, many marked #EatTheRich, others summoning a range of nautical menaces: “At least the pirates have his location now.”

The yachts extend a tradition of seclusion as the ultimate luxury. The Medici, in sixteenth-century Florence, built elevated passageways, or corridoi , high over the city to escape what a scholar called the “clash of classes, the randomness, the smells and confusions” of pedestrian life below. More recently, owners of prized town houses in London have headed in the other direction, building three-story basements so vast that their construction can require mining engineers—a trend that researchers in the United Kingdom named “luxified troglodytism.”

Water conveys a particular autonomy, whether it’s ringing the foot of a castle or separating a private island from the mainland. Peter Thiel, the billionaire venture capitalist, gave startup funding to the Seasteading Institute, a nonprofit group co-founded by Milton Friedman’s grandson, which seeks to create floating mini-states—an endeavor that Thiel considered part of his libertarian project to “escape from politics in all its forms.” Until that fantasy is realized, a white boat can provide a start. A recent feature in Boat International , a glossy trade magazine, noted that the new hundred-and-twenty-five-million-dollar megayacht Victorious has four generators and “six months’ autonomy” at sea. The builder, Vural Ak, explained, “In case of emergency, god forbid, you can live in open water without going to shore and keep your food stored, make your water from the sea.”

Much of the time, superyachts dwell beyond the reach of ordinary law enforcement. They cruise in international waters, and, when they dock, local cops tend to give them a wide berth; the boats often have private security, and their owners may well be friends with the Prime Minister. According to leaked documents known as the Paradise Papers, handlers proposed that the Saudi crown prince take delivery of a four-hundred-and-twenty-million-dollar yacht in “international waters in the western Mediterranean,” where the sale could avoid taxes.

Builders and designers rarely advertise beyond the trade press, and they scrupulously avoid leaks. At Lürssen, a German shipbuilding firm, projects are described internally strictly by reference number and code name. “We are not in the business for the glory,” Peter Lürssen, the C.E.O., told a reporter. The closest thing to an encyclopedia of yacht ownership is a site called SuperYachtFan, run by a longtime researcher who identifies himself only as Peter, with a disclaimer that he relies partly on “rumors” but makes efforts to confirm them. In an e-mail, he told me that he studies shell companies, navigation routes, paparazzi photos, and local media in various languages to maintain a database with more than thirteen hundred supposed owners. Some ask him to remove their names, but he thinks that members of that economic echelon should regard the attention as a “fact of life.”

To work in the industry, staff must adhere to the culture of secrecy, often enforced by N.D.A.s. On one yacht, O’Shannassy, the captain, learned to communicate in code with the helicopter pilot who regularly flew the owner from Switzerland to the Mediterranean. Before takeoff, the pilot would call with a cryptic report on whether the party included the presence of a Pomeranian. If any guest happened to overhear, their cover story was that a customs declaration required details about pets. In fact, the lapdog was a constant companion of the owner’s wife; if the Pomeranian was in the helicopter, so was she. “If no dog was in the helicopter,” O’Shannassy recalled, the owner was bringing “somebody else.” It was the captain’s duty to rebroadcast the news across the yacht’s internal radio: “Helicopter launched, no dog, I repeat no dog today”—the signal for the crew to ready the main cabin for the mistress, instead of the wife. They swapped out dresses, family photos, bathroom supplies, favored drinks in the fridge. On one occasion, the code got garbled, and the helicopter landed with an unanticipated Pomeranian. Afterward, the owner summoned O’Shannassy and said, “Brendan, I hope you never have such a situation, but if you do I recommend making sure the correct dresses are hanging when your wife comes into your room.”

In the hierarchy on board a yacht, the most delicate duties tend to trickle down to the least powerful. Yacht crew—yachties, as they’re known—trade manual labor and obedience for cash and adventure. On a well-staffed boat, the “interior team” operates at a forensic level of detail: they’ll use Q-tips to polish the rim of your toilet, tweezers to lift your fried-chicken crumbs from the teak, a toothbrush to clean the treads of your staircase.

Many are English-speaking twentysomethings, who find work by doing the “dock walk,” passing out résumés at marinas. The deals can be alluring: thirty-five hundred dollars a month for deckhands; fifty thousand dollars in tips for a decent summer in the Med. For captains, the size of the boat matters—they tend to earn about a thousand dollars per foot per year.

Yachties are an attractive lot, a community of the toned and chipper, which does not happen by chance; their résumés circulate with head shots. Before Andy Cohen was a talk-show host, he was the head of production and development at Bravo, where he green-lighted a reality show about a yacht crew: “It’s a total pressure cooker, and they’re actually living together while they’re working. Oh, and by the way, half of them are having sex with each other. What’s not going to be a hit about that?” The result, the gleefully seamy “Below Deck,” has been among the network’s top-rated shows for nearly a decade.

Billboard that resembles on for an injury lawyer but is actually of a woman saying I told you so.

To stay in the business, captains and crew must absorb varying degrees of petty tyranny. An owner once gave O’Shannassy “a verbal beating” for failing to negotiate a lower price on champagne flutes etched with the yacht’s logo. In such moments, the captain responds with a deferential mantra: “There is no excuse. Your instruction was clear. I can only endeavor to make it better for next time.”

The job comes with perilously little protection. A big yacht is effectively a corporation with a rigid hierarchy and no H.R. department. In recent years, the industry has fielded increasingly outspoken complaints about sexual abuse, toxic impunity, and a disregard for mental health. A 2018 survey by the International Seafarers’ Welfare and Assistance Network found that more than half of the women who work as yacht crew had experienced harassment, discrimination, or bullying on board. More than four-fifths of the men and women surveyed reported low morale.

Karine Rayson worked on yachts for four years, rising to the position of “chief stew,” or stewardess. Eventually, she found herself “thinking of business ideas while vacuuming,” and tiring of the culture of entitlement. She recalled an episode in the Maldives when “a guest took a Jet Ski and smashed into a marine reserve. That damaged the coral, and broke his Jet Ski, so he had to clamber over the rocks and find his way to the shore. It was a private hotel, and the security got him and said, ‘Look, there’s a large fine, you have to pay.’ He said, ‘Don’t worry, the boat will pay for it.’ ” Rayson went back to school and became a psychotherapist. After a period of counselling inmates in maximum-security prisons, she now works with yacht crew, who meet with her online from around the world.

Rayson’s clients report a range of scenarios beyond the boundaries of ordinary employment: guests who did so much cocaine that they had no appetite for a chef’s meals; armed men who raided a boat offshore and threatened to take crew members to another country; owners who vowed that if a young stew told anyone about abuse she suffered on board they’d call in the Mafia and “skin me alive.” Bound by N.D.A.s, crew at sea have little recourse.“We were paranoid that our e-mails were being reviewed, or we were getting bugged,” Rayson said.

She runs an “exit strategy” course to help crew find jobs when they’re back on land. The adjustment isn’t easy, she said: “You’re getting paid good money to clean a toilet. So, when you take your C.V. to land-based employers, they might question your skill set.” Despite the stresses of yachting work, Rayson said, “a lot of them struggle with integration into land-based life, because they have all their bills paid for them, so they don’t pay for food. They don’t pay for rent. It’s a huge shock.”

It doesn’t take long at sea to learn that nothing is too rich to rust. The ocean air tarnishes metal ten times as fast as on land; saltwater infiltrates from below. Left untouched, a single corroding ulcer will puncture tanks, seize a motor, even collapse a hull. There are tricks, of course—shield sensitive parts with resin, have your staff buff away blemishes—but you can insulate a machine from its surroundings for only so long.

Hang around the superyacht world for a while and you see the metaphor everywhere. Four months after Putin’s invasion of Ukraine, the war had eaten a hole in his myths of competence. The Western campaign to isolate him and his oligarchs was proving more durable than most had predicted. Even if the seizures of yachts were mired in legal disputes, Finley, the former C.I.A. officer, saw them as a vital “pressure point.” She said, “The oligarchs supported Putin because he provided stable authoritarianism, and he can no longer guarantee that stability. And that’s when you start to have cracks.”

For all its profits from Russian clients, the yachting industry was unsentimental. Brokers stripped photos of Russian yachts from their Web sites; Lürssen, the German builder, sent questionnaires to clients asking who, exactly, they were. Business was roaring, and, if some Russians were cast out of the have-yachts, other buyers would replace them.

On a cloudless morning in Viareggio, a Tuscan town that builds almost a fifth of the world’s superyachts, a family of first-time owners from Tel Aviv made the final, fraught preparations. Down by the docks, their new boat was suspended above the water on slings, ready to be lowered for its official launch. The scene was set for a ceremony: white flags in the wind, a plexiglass lectern. It felt like the obverse of the dockside scrum at the Palm Beach show; by this point in the buying process, nobody was getting vetted through binoculars. Waitresses handed out glasses of wine. The yacht venders were in suits, but the new owners were in upscale Euro casual: untucked linen, tight jeans, twelve-hundred-dollar Prada sneakers. The family declined to speak to me (and the company declined to identify them). They had come asking for a smaller boat, but the sales staff had talked them up to a hundred and eleven feet. The Victorians would have been impressed.

The C.E.O. of Azimut Benetti, Marco Valle, was in a buoyant mood. “Sun. Breeze. Perfect day to launch a boat, right?” he told the owners. He applauded them for taking the “first step up the big staircase.” The selling of the next vessel had already begun.

Hanging aloft, their yacht looked like an artifact in the making; it was easy to imagine a future civilization sifting the sediment and discovering that an earlier society had engaged in a building spree of sumptuous arks, with accommodations for dozens of servants but only a few lucky passengers, plus the occasional Pomeranian.

We approached the hull, where a bottle of spumante hung from a ribbon in Italian colors. Two members of the family pulled back the bottle and slung it against the yacht. It bounced off and failed to shatter. “Oh, that’s bad luck,” a woman murmured beside me. Tales of that unhappy omen abound. In one memorable case, the bottle failed to break on Zaca, a schooner that belonged to Errol Flynn. In the years that followed, the crew mutinied and the boat sank; after being re-floated, it became the setting for Flynn’s descent into cocaine, alcohol, orgies, and drug smuggling. When Flynn died, new owners brought in an archdeacon for an onboard exorcism.

In the present case, the bottle broke on the second hit, and confetti rained down. As the family crowded around their yacht for photos, I asked Valle, the C.E.O., about the shortage of new boats. “Twenty-six years I’ve been in the nautical business—never been like this,” he said. He couldn’t hire enough welders and carpenters. “I don’t know for how long it will last, but we’ll try to get the profits right now.”

Whatever comes, the white-boat world is preparing to insure future profits, too. In recent years, big builders and brokers have sponsored a rebranding campaign dedicated to “improving the perception of superyachting.” (Among its recommendations: fewer ads with girls in bikinis and high heels.) The goal is partly to defuse #EatTheRich, but mostly it is to soothe skittish buyers. Even the dramatic increase in yacht ownership has not kept up with forecasts of the global growth in billionaires—a disparity that represents the “one dark cloud we can see on the horizon,” as Øino, the naval architect, said during an industry talk in Norway. He warned his colleagues that they needed to reach those “potential yacht owners who, for some reason, have decided not to step up to the plate.”

But, to a certain kind of yacht buyer, even aggressive scrutiny can feel like an advertisement—a reminder that, with enough access and cash, you can ride out almost any storm. In April, weeks after the fugitive Motor Yacht A went silent, it was rediscovered in physical form, buffed to a shine and moored along a creek in the United Arab Emirates. The owner, Melnichenko, had been sanctioned by the E.U., Switzerland, Australia, and the U.K. Yet the Emirates had rejected requests to join those sanctions and had become a favored wartime haven for Russian money. Motor Yacht A was once again arrayed in almost plain sight, like semaphore flags in the wind. ♦

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  • Open Space, Eco-Friendly Tech: What a Rising Class of Millennial Superyacht Owners Is Looking For

Surveys predict that, 10 years from now, the average age of a superyacht buyer will be 35 to 40.

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Millennials Are Buying Yachts

Ten years from now, Millennials will have taken over the superyacht world. At least that’s the forecast by several experts who are seeing ages of yacht buyers trending younger.

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That trend is expected to continue, according to research from Italian yacht builder Rossinavi and the University of Monaco, with the average age of superyacht buyers decreasing 10 to 15 years over the next decade. That could make Millennials the primary buyers of superyachts.

The topic of younger buyers is a constant discussion in shipyard boardrooms and among designers looking to modify their designs to this changing market. It was also one of the topics at the recent Yachtmaster event in Key West, hosted by Benetti Yachts . Benetti sponsors Yachtmaster events twice a year (the European edition was in Budapest last month) to brief captains and other professionals on new trends in the superyacht industry.

Benetti Yachtmasters 2024

“We have been doing this event for 24 years now,” Benetti Americas manager Nick Bischoff told Robb Report . “The intent is to continue to build relationships with influencers of our current and prospective owners. In the beginning that meant mostly captains, but it’s expanded to include surveyors and owners’ reps, too.” The ultimate goal, says Bischoff, is for participants not only to network, but “put their heads together to create an ever-improving onboard experience both for owners and crew.”

Many seminars focused on the concept of onboard lifestyle, which most brokers and shipyards see as a primary driver for purchasing a yacht. Benetti’s head of product, Sebastiano Vida, also spoke about how lifestyle influences new designs in the yachts.

But Jason Dunbar, a broker and appraisal surveyor with Vessel Value Survey, recommended tough love to the brokers. His discussion about managing expectations for newbie owners included advice about being “realistic” with owners who are flush with cash, but might be new to the superyacht world. If an owner wants a brand-new 120-footer with a crew of six, but has a budget of $8 million, the broker is the one who needs to break the bad news. “A good broker has to tell people ‘Listen, that’s just not going to happen,’” says Dunbar. “That will save a lot of headaches down the road and will hopefully keep a client in boating for the long term.”

Benetti Yachtmaster Even Oasis Deck

A new buyer is often coming off a one-week charter that was magical: perfect weather, a well-oiled boat, and a crew looking forward to a little R&R after hustling all week for the charter guests. “It’s relatively easy to make things work like that one week at a time,” says Dunbar. “But a new owner who wants to use their boat for 10, 15, or 30 weeks, that’s a totally different thing. You may have to tell them they need to hire two crews and rotate them—which will be news to them.” He said that overworking the crew will “burn through humans.” The crew will be miserable, he says, which will make the boat not live up to the owners’ expectations. “The next thing you know these new owners will be long gone from yachting.”

Fraser Yachts CEO Anders Kurtén sees the new buyers as a boon for design creativity in an old-school industry. “It starts with a piece of paper,” he says. “We sit down and start designing these boats for younger clients and we see similar trends. Basically they all want to live their shore-based lives on a yacht.”

The segmented and often claustrophobic interiors of many current superyacht designs, says Dirand, just doesn’t float with the new generation. “Young owners’ preferences are honed by hospitality and a knowledge of architectural trends,” he says.

Azimut Benetti Group

Because of that, wellness centers have become focal points of design. As moguls like Jeff Bezos and Mark Zuckerberg have made clear as of late, having six-pack abs in middle age is the new Lamborghini. These new owners expect their boats to be designed with beach clubs with gyms, saunas, massage areas that allow owners and guests to work out or relax, amidst warm sun rays and luscious sea breezes.

Kurtén also pointed to green tech as key for the new generation of clients. “We’ve hit a point where a 150-foot sailboat can go across the Atlantic without burning a drop of fuel. And motoryachts can function on battery-only mode, at least when they are close to port,” he says. “That’s important to these new clients—they want to be green. A few years ago that was something you said at a cocktail party, but today it’s a reality for a lot of buyers.”

Peter Selivanoff, senior yacht service manager for Fraser, also spoke about how owners are seeking highly specialized crews who can perform multiple functions across the yacht.

Navigating these new realities is an important part for the industry to future-proof itself in the competitive realm of ultra-luxury products. This is a place where youth may not spring eternal but, at least for now, it reigns supreme.

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J Class: the enduring appeal of the world’s most majestic yachts

Yachting World

  • October 9, 2023

Only ten J Class yachts were built before the Second World War stopped the movement in its tracks, but in the last 20 years these magnificent sloops have made an incredible comeback. Why has the J Class remained irresistable? David Glenn explains.

american yacht owners

One of the most awe-inspiring sights in modern yachting is the Spirit of Tradition fleet blasting off the start line at the Antigua Classic Yacht Regatta. It happens every year at the end of April. Chances are it will include at least two J Class yachts, hitting the line on the gun at full tilt, exploding through the cobalt blue Caribbean rollers at anything up to 12 knots as they charge upwind.

Watching Velsheda , Ranger , Shamrock V and Endeavour will bring a lump to your throat, such is the emotion generated by these beautifully proportioned 130ft racing machines with their carbon rigs driving 170 tonnes of steel, aluminium and teak towards the weather mark. It’s heady stuff.

Watching them is one thing; racing quite another matter. In 1999 I was aboard the rebuilt Velsheda , taking part in the Antigua Classic Regatta. I had a single task as part of a four-man team – to tend the forward starboard runner. Nothing else. “Let that go once we’ve tacked and the whole rig comes down,” warned skipper Simon Bolt, as another wall of water thundered down the leeward deck and tried to rip me from the winch.

Dressed in authentic off-white, one-piece cotton boiler-suits, which had to be worn with a stout belt “so there’s something to grab if you go overboard”, they were tough, adrenaline-filled days out. God knows what it was like up forward as massive spinnakers were peeled and headsails weighing a quarter of a tonne were wrestled to the  needle-sharp foredeck as the bow buried itself into the back of yet another wave. Sometimes you daren’t look.

But with the race won or lost, back on the dock the feeling of elation, fuelled by being part of the 36-strong crew aboard one of these extraordinary yachts, triggered a high like no other. You knew you were playing a role, no matter how small, in a legendary story that began in 1930, was halted by World War II and then defied the pundits by opening another chapter 20 years ago. Today with five Js in commission, all in racing trim, and at least two more new examples about to be launched, the J Class phenomenon is back.

Why is the J Class so popular?

Why does a yacht with an arguably unexciting performance – they go upwind at 12 knots and downwind at 12 knots – costing £20 million to build and demanding eye-watering running costs, seem to be burgeoning during the worst recession since the class was born?

american yacht owners

There is no single answer, but you only have to look back to the 1930s and the characters that owned and raced the Js on both sides of the Atlantic, sometimes for the America’s Cup , to understand why the class occupies a special place in yachting history. Underlying everything is the look of the J Class. It seems to transcend any change in yachting vogue, displaying a timeless line with outrageous overhangs and a proportion of hull to rig that is hard to better.

They possess true elegance. There is no doubt that captains of industry who want to flex their sporting muscle have been drawn to a class which only the very rich can afford and there are distinct parallels between J owners in the 1930s and those of the past 20 years. The difference is that in the 1930s owners liked to shout about their achievements and hogged the pages of national newspapers. Today, they are as quiet as mice.

Origins of the J Class

The J Class emerged in 1930 and marked a quantum leap in yachting technology, but comprised a hotchpotch of design altered over many years.

american yacht owners

The J Class – so named because it was the letter allocated to its particular size by the Universal Rule to which the yachts were built (K and M Class yachts were, for example, shorter on the waterline) – emerged in 1930 and marked a quantum leap in yachting technology.

The so-called Big Class, which flourished in the UK in the 1920s, was impressive, but comprised a hotchpotch of design altered over many years. Yachts like King George V’s Britannia , built in 1893 as a gaff-rigged cutter but converted in the 1920s to Bermudan rig to rate as a J, Candida , Cambria , White Heather and schooners like Westward were even larger and more expensive to run. But as the greater efficiency of the Marconi or Bermudan rig became apparent their days were numbered.

One catalyst for the J Class itself was legendary grocer Sir Thomas Lipton’s final crack at challenging for the America’s Cup in 1931. He did so under the Universal Rule with the composite, wooden-planked, Charles E. Nicholson-design Shamrock V .

It was the 14th challenge since 1851 and the Americans, despite the withering effects of the Great Depression, reacted in dramatic fashion, organising their defence with four syndicates, each bulging with millionaires, putting forward separate Js: Enterprise , Whirlwind , Weetamoe and Yankee , which apart from Enterprise had already been launched.

Key to the American effort was the remarkable Harold Vanderbilt of the New York Yacht Club, who had inherited fabulous wealth from the family’s railroad companies, making him one of the country’s richest men.

Brought up on the family’s Idle Hour estate on Long Island Sound, he was a keen and accomplished sailor, and he used American technology and teamwork to build a far superior J in Enterprise. The defence completely overwhelmed Lipton’s effort. The British press castigated Lipton’s lack of preparedness and old-fashioned attitude. Vanderbilt, who among other things is credited with inventing contract bridge, left no stone unturned. “Mr. Harold Vanderbilt does not exactly go boat-sailing because summer is the closed season for fox-hunting,” stated an acerbic critic in the British yachting press.

Later when Shamrock was owned by aircraft builder Sir Richard Fairey and was being used to train crew for another Cup challenge, Beecher Moore, a skilful dinghy sailor who was draughted aboard the J to try to sort her out, reported in Yachts and Yachting many years later: “We found that when we got on board it was very much like a well-run country house, in that the gentleman does not go into the kitchen and on a well-run J Class the owner does not go forward of the mast.”

J Class tactics: Britain vs USA

A look at the huge gap between the British and American J Class tactics and designs in the early years of the America’s Cup.

american yacht owners

In the early days there was a yawning gap between the way the Americans and British approached the Cup and, for that matter, how they ran a yacht. Revolutionary metal masts, Park Avenue booms to improve sail shape (the British copied this American design with their ‘North Circular’ version), bronze hulls that needed no painting, superior sails, and campaigns that cost £100,000 even in those days, blew away the Brits. Lipton had spent just £30,000 to build and equip Shamrock .

In the second Cup challenge in Js, in 1934, Sir T. O. M. Sopwith’s first Endeavour , also designed by Nicholson and equipped with wind instruments designed by her aircraft industrialist owner, nearly won the Cup, snatching defeat from the jaws of victory after leading the series 0-2. Sopwith was also up against Vanderbilt, who this time sailed Rainbow , which many considered to be the slower boat. But the British campaign was hobbled by a pay dispute – Endeavour ’s crew got £5 a week but they wanted a raise for ‘going foreign’ – and the campaign approach was again brought into question when the first thing to be stripped off the yacht when they won a dispute over reducing weight was the bath!

Back in Britain, the 1935 season proved to be the zenith of J Class and Big Class racing, although by the end of it the Js were under the cosh for their tendency to lose masts. Five went over the side that year and Endeavour II , launched with en eye on the next Cup challenge, lost hers twice.

There was added spice in the competition off the shores of the UK with the arrival of the American J Yankee , now owned by millionaire and Listerine businessman Gerard Lambert, who enjoyed sparring with the Brits. But even Yankee lost her mast and the press rounded on the class for being dangerous and wasteful! That wasn’t enough to stop Sopwith, whose tail had been extracted from between his legs following the last defeat in Newport: Endeavour II was towed across the Atlantic in a veritable armada that included  the first Endeavour. The British yachts found themselves up against the most advanced sailing machine the world had ever seen – Ranger , dubbed ‘the Super J’.

Vanderbilt was the man to beat again. Not only had he bankrolled the entire defence as American business remained beset by a struggling economy, but he used highly scientific means to perfect design. The brilliant naval architect Starling Burgess, who had designed for Vanderbilt throughout the 1930s, was now aided by the equally brilliant but considerably more youthful Olin Stephens. Between them they finally selected ‘model 77-C’ from six tank tested.

The yacht was considered ugly by some and not a natural to look at, but Vanderbilt’s team trusted the science (still the difference between the Americans and the Brits) and Ranger with her bluff or barrel bow and ‘low slung’ counter was the result. She proved to be dynamite on the race course and Endeavour II didn’t stand a chance. She was beaten in five straight races by large margins. The Americans and Vanderbilt had done it again. War then brought an end to an extraordinary era in yachting.

Only ten J Class yachts were built to the Universal rule and not a single American yacht survived. Most were scrapped for the war effort. In any case, the American way was to discard the machine once it has served its purpose. In Britain they faired a little better, and some Js were mud-berthed on the East and South Coasts. Two survived in the UK: Velsheda , originally built by the businessman who ran Woolworths in the UK (W. L. Stevenson named her after his daughters Velma, Sheila and Daphne), but which never challenged for the America’s Cup; and Endeavour , saved by becoming a houseboat on the Hamble. Shamrock ended up in Italy and survived the war hidden in a hay barn.

J Class resurgence

Seemingly resigned to the history books, the J Class made a triumphant return in the 1980s.

In his seminal book about the J Class, Enterprise to Endeavour, yachting historian Ian Dear predicted in the first edition in 1977 that the likes of the Js would never be seen again. By the time the fourth edition was published in 1999 he was quite happily eating his words!

The American Elizabeth Meyer was, without doubt, instrumental in bringing the class back to life when in the 1980s she extracted what was left of Endeavour from a  amble mud-berth, began rebuilding her in Calshot, and then moved her to Royal Huisman in Holland, who completed the restoration superbly. With the transom of the original Ranger mounted on a bulkhead in her saloon, Endeavour is still regarded as one of the best-looking and potentially fastest Js.

She was owned briefly by Dennis Kozlowski, the disgraced tycoon who ran Tyco, who famously said: “No one really owns Endeavour, she’s part of yachting history. I’m delighted to be the current caretaker.” Unfortunately he ended up in prison and the State of New York became Endeavour’s ‘caretaker’ before they sold her to her current owner, who has kept the yacht in the Pacific. She’s currently being refitted in New Zealand.

Ronald de Waal is a Dutchman who until recently was chairman of the Saks Group in the USA and has made a fortune in clothing. He has dedicated a lot of time to improving Velsheda over the years since he had her rebuilt by Southampton Yacht Services to a reconfigured design by Dutch naval architect Gerry Dykstra. Ronald de Waal steers the yacht himself to great effect and has had some legendary tussles with Ranger, the new Super J built in Denmark for American realestate magnate John Williams.

The rivalry between the two is fierce and even led to a collision between the yachts in Antigua last year. But Velsheda would have been lost had it not been for British scrap-metal merchant Terry Brabant who saved her from a muddy grave on  the Hamble and famously sold his Rolls-Royce to cast a new lead keel for the yacht. With very little modern equipment he sailed her hard in the Solent, chartering her and crossing the Atlantic for a Caribbean season, all without an engine! Without Brabant’s initiative Ronald de Waal wouldn’t have what he has today.

Shamrock V is owned by a Brazilian telecommunications businessman Marcos de Moraes who had the yacht rebuilt at Pendennis Shipyard in Falmouth in 2001. He tends to keep away from the race course but with a number of events being planned in the run-up to the 2012 London Olympics he might be tempted back. The latest new J to launch, Hanuman, a modern interpretation of Endeavour II, has recently entered the racing fray. She was commissioned by serial yacht owner Jim Clark (Hyperion and Athena), the American who brought us Netscape and Silicon Graphics, and who remains a colossus in Silicon Valley.

Hanuman, named after a Hindu deity, built by Royal Huisman and designed by Gerry Dykstra, has had no expense spared when it comes to rig and sail wardrobe. Last year she beat Ranger in the Newport Bucket but in March this year she lost out 2-1 to the same boat at the St Barths Bucket. They were due to meet again with Velsheda at the Antigua Classic Yacht Regatta in April. Another Dutchman, property developer Chris Gongriep, who has owned a number of yachts including Sapphire and Windrose of Amsterdam, has given the go-ahead for a new  version of Rainbow, which is well advanced in Holland at Freddie Bloesma’s aluminium hull fabrication yard. The yacht, reconfigured by Gerry Dykstra, will be in the water in 2011 with a full-on race programme.

About to be launched is Lionheart, the biggest J so far, redesigned by Andre Hoek and built in Holland by Claasen Jachtbouw, after an extensive research programme.  Unfortunately, her owner’s business commitments mean that he won’t be able to enjoy the fruits of this project – she’s for sale with Yachting Partners International and Hoek Brokerage. What an opportunity to join a class with such a remarkable history and one which looks destined to run and run!

First published on SuperYachtWorld.com on Aug 4, 2010

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New Law Allows Patriotic American Superyacht Owners to Finally Fly U.S. Flag

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President Trump this week signed a bill that will allow American owners of large yachts to finally register their vessels under the United States flag.

Until now, U.S. law defined a yacht as a vessel whose volume was a maximum of 300 GT. The law was written in 1920 but never updated to reflect larger yachts of today.

This, in turn, has prevented most Americans who own private yachts exceeding the 300-GT limit from registering their vessels in the United States. Instead, they have have been forced to register under a foreign flag, or register their yacht as a commercial vessel.

Another option, only for the most determined owners, was to pursue a waiver to the rule from Congress. But, for obvious reasons, only a handful have done so and today there is only one yacht which holds such waiver: MY Limitless.

Editors Note: A previous version of this article said the yacht MY Freedom had obtained a waiver from Congres, however, that was not the case. The owner of the MY Freedom actually petitioned the Coast Guard and, after a lengthy process, in 2014 it was able to obtain the first Certificate of Inspection given to a privately-owned yacht over 300gt. Read more about how the MY Freedom obtained the Coast Guard COI here . 

According to the U.S. Superyacht Association, which helped develop the bill, the new legislation modernizes outdated laws and brings the United States in line with current times.

“This has been a significant issue that the U.S. Superyacht Association (USSA) has spent nearly a decade working to correct,” said Kate Pearson, USSA chair and vice president of business development of Safe Harbor Marinas. “We are thrilled to have been an integral part of helping to finally make it a reality and are pleased that yacht owners will no longer be chased from American shores to other countries to flag their vessels.”

The legislation, an amendment included on the bill that was signed by President Trump, received bipartisan support in Congress during its development.

“I am very pleased that the President has signed legislation that will increase the number of large recreational vessels which fly the U.S. flag,” remarked Congressman Duncan Hunter, representing California’s 50th District and chair of the subcommittee on Coast Guard and Maritime Transportation. “This will lead to more U.S. jobs in the ship repair and supporting industries.”

“The economic impact of more large yachts flagging U.S. could be significant, as these large vessels would now provide more high-profile opportunities for American crew, keep yachts traveling in U.S. waters, and spend more time in our repair and refit yards,” stated Kitty McGowan, president of the USSA.

Although there is no apparent economic benefit from registering under the U.S. flag, for some owners, the idea of flying the American flag is more about patriotism than the money. 

“For at least a half century, ridiculous regulations prohibited American citizens from displaying their patriotism by flying an American flag on their yacht,” remarked Tilman J. Fertitta, a longtime yacht owner, star of the TV show Billion Dollar Buyer, and sole owner of Landry’s Restaurants and the Houston Rockets. “With the new legislation, that ends. American yacht owners can now proudly proclaim their citizenship on their yachts. Thank you to all those that made this possible and to President Trump for eliminating over 50 years of bureaucratic red tape. This is truly an historic day for American yacht owners and the yachting industry.”

“Getting this accomplished wouldn’t have been possible without the vision and support of Mr. Fertitta, an American yachtsman now building his fifth yacht, and his team, who wanted nothing more than to register his yacht in the United States,” added McGowan. “Mr. Fertitta could have gotten an exemption for his yacht individually, but he chose to help the entire U.S. industry and for that, we are extremely grateful. This legislative action, spearheaded by Congressman Rob Bishop of Utah, is the icing on the cake that dozens of volunteers from our organization have been working on for years and is evidence that cooperative work between both the private and public sectors can truly effect positive change for our industry in the United States.”

While a specific U.S. Large Yacht Code is now being developed by the U.S. Coast Guard to go into effect in 2020, in the interim, a private yacht over 300 GT that is MCA compliant, will now be able to fly the U.S. flag.

“We look forward to continuing our efforts with the U.S. Coast Guard to help develop and establish the new U.S. flag registry as the best in the world,” said Jay Dayton, USSA Advocacy Co-Chair.

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U.S. Eyes $156 Million Yacht in Dubai Linked to a Russian Oligarch

The U.S. Justice Department is taking steps to seize the Madame Gu, a 324-foot luxury yacht, but it will be diplomatically thorny.

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View of the marina at dusk, with the superyacht in the water and buildings and cranes behind it.

By Kate Kelly ,  Michael Forsythe and Julian E. Barnes

DUBAI, United Arab Emirates — On a clear morning in late October, the jewel-blue hull of the Madame Gu, one of the world’s most luxurious superyachts, gleamed, its aluminum rails shimmering in the sun. Workers on the pier said they had recently seen people painting, cleaning and generally keeping the ship with its helipad and six guest staterooms in pristine condition.

In past years, such a scene would not have been noteworthy. Many superyachts come and go from Dubai’s Mina Rashid Marina, best known as the home of the Queen Elizabeth 2, the trans-Atlantic ocean liner-turned-hotel that dominates the waterfront here.

But Russia’s war in Ukraine has turned an otherwise routine tableau into a diplomatic battleground between the United States and the United Arab Emirates, an important American ally that has established itself as a safe haven for Russian money and assets out of the reach of U.S. sanctions.

The $156 million Madame Gu epitomizes the problem. In June, the United States designated the vessel, which is linked to Andrei Skoch, a Russian steel magnate and lawmaker under sanctions, as blocked property. That means the yacht cannot use American companies for its upkeep, employ U.S. citizens or even use the dollar. The Justice Department is now taking steps to seize the Madame Gu, according to people with knowledge of the plan.

But the United States can’t seize property in a sovereign nation without permission from its government. The Emirates, which has taken a friendlier position toward Moscow, is balking at cooperating with the United States to pursue oligarchs, American officials said. The Kremlin is also using oligarch-controlled companies in the Emirates to acquire war supplies that the West is trying to keep out of Russia’s reach, according to a Western official involved in the sanctions effort against Russia.

Emirati officials did not comment specifically on the Madame Gu but said in a statement that they took their role “protecting the integrity of the global financial system extremely seriously.”

A closer examination of Russian assets in the Emirates shows that even before the war in Ukraine, Dubai had become a playground for Russians with links to President Vladimir V. Putin. At least 38 businessmen or officials with ties to the Russian president own homes in Dubai that are collectively valued at more than $314 million, according to the Center for Advanced Defense Studies. Five of those owners are under U.S. sanctions.

Since the Russian invasion, Dubai has established itself as a safe haven for Russian yachts and aircraft unable to sail or fly elsewhere. After Russian jets were barred from the European Union in late February, the Emirates became the destination for 14 percent of all private flights leaving Russia, up from 3 percent before the invasion.

“It’s frustrating when you see huge assets that are sitting out there and it appears that the country is not cooperating,” said Senator Sheldon Whitehouse, Democrat of Rhode Island, referring to the Emirates. “It would be nice if there were more common cause against Putin while he’s busy shelling hospitals and schools.”

Mr. Whitehouse is sponsoring legislation that would use proceeds of the sales of seized Russian assets to help rebuild Ukraine. Senior officials at the Treasury and State Departments have also complained publicly about the situation.

U.S. officials view the presence of superyachts in places like Dubai and Bodrum, Turkey , as a symptom of wider Russian circumvention of sanctions and continued access to financial markets. Yachts have also come to symbolize the decadence of Russia’s oligarchs, especially at a time when Russian soldiers are scrounging for body armor and sleeping bags on the front lines.

Pursuing the Madame Gu

Built by the Dutch firm Feadship and put into service in 2013, the Madame Gu has a large helicopter pad on its forecastle with a hangar underneath that can double as a squash court when the chopper isn’t on board. The vessel has berthing for 36 crew members, according to one trade magazine.

Mr. Skoch, a member of Russia’s Parliament who is linked to assets worth billions of dollars, according to U.S. court filings, has had sanctions imposed on him twice by the United States, first in 2018 and then after Russia’s invasion this year. The Treasury Department has cited his “longstanding ties to Russian organized criminal groups.”

Mr. Skoch could not be reached and did not respond to messages left at his office at Parliament.

In an interview in October about the government’s broader efforts to go after the assets of oligarchs, Andrew Adams, a federal prosecutor leading the Department of Justice’s KleptoCapture task force, declined to discuss the Madame Gu. But the United States, he said, is warning companies they must not do business with individuals and assets under sanctions. The government, he said, will pursue oligarch-owned assets whose sale could be used to aid Ukraine.

“Where we know there is an asset that can potentially provide significant remuneration for Ukraine, that obviously is an attractive case to pursue,” he said.

U.S. officials are likely to use the case they made for impounding a $90 million Airbus business jet linked to Mr. Skoch in August as a blueprint for seizing the Madame Gu, said people familiar with the plan.

That means investigators will aim to show that the owner of the vessel, or the companies that have been providing services to it, have intersected with the U.S. financial system.

“If there are U.S. dollars or a U.S. nexus associated with supporting this vessel, massive enforcement actions could take place,” said Adam M. Smith, a former official overseeing sanctions at the Treasury Department. Companies that provide support to entities under sanctions could potentially face their own sanctions, said Mr. Smith, who is now a lawyer at Gibson Dunn in Washington.

This year the United States has carried out two high-profile seizures of yachts tied to Russians under sanctions, working with cooperative governments. The $300 million Amadea was taken in Fiji in May and sailed to San Diego under an American flag. In April, the United States worked with Spanish police to seize the $90 million Tango.

A Problematic Partner

Diplomatically, the Emirates has been reluctant to take a clear anti-Russian position when it comes to the war in Ukraine. Sheikh Mohammed bin Zayed Al Nahyan, president of the United Arab Emirates, recently met with Mr. Putin in St. Petersburg, and the Emirati foreign minister recently hosted his Russian counterpart. Yet Sheikh Mohammed has also talked with Volodymyr Zelensky, the president of Ukraine, more than once and recently gave the country $100 million in humanitarian aid.

The United States has publicly expressed dismay over the mixed messages.

During a visit to Dubai in June, Wally Adeyemo, the U.S. deputy treasury secretary, warned of the need for vigilance and proactive steps in combating Russian evasion. That same month Barbara Leaf, the State Department’s under secretary for Near East Affairs, said at a congressional hearing that regarding the Emirates, she was “not happy at all with the record at this point” on sanctions enforcement. Mr. Adeyemo reiterated his concerns in a meeting with Emirati officials in October in Washington.

A senior State Department official said in a statement to The New York Times that the agency continues “to reinforce the importance of conducting enhanced due diligence to prevent sanctions evasion and investigating allegations of such activity” to the Emirates.

The Treasury Department declined to comment on the Madame Gu or the relationship with the Emirates.

Last month, the Treasury Department announced it had placed sanctions on an Emirates-based company, Constellation Advisors Ltd., that the American government said was operating on behalf of a nephew of another Russian oligarch, Suleiman Kerimov. Mr. Kerimov, according to American court documents, was the owner of the Amadea superyacht .

American officials are also worried the Russian government is using the Emirates to acquire military supplies for its war in Ukraine. On Nov. 15, the Treasury Department imposed sanctions on two Emirates-based transportation firms that had worked with another Iranian firm under sanctions, which in turn had helped transport drones and personnel from Iran to Russia.

Moored in Dubai

Based on a recent visit to Dubai’s Mina Rashid Marina , where the Madame Gu is moored, it is clear that international companies are playing a critical role in its care.

The Emirates-based company DP World, through its subsidiary P&O Marinas , oversees the pier where the Madame Gu is moored. Employees from another DP World subsidiary , World Security, staff the small guard box at the entrance. That makes DP World, which is owned by Dubai’s royal family, potentially vulnerable to American sanctions.

DP World “fully complies with all applicable local and national laws and intends to continue doing the same regarding the Madame Gu and other vessels utilizing our services,” said Adal Mirza, a spokesman for the company. He added that DP World had not yet heard from the United States or other countries that had placed Mr. Skoch under sanctions, including Britain and the European Union.

A generator set that dock workers said in late October was powering the Madame Gu — two container-like structures near its stern — bore the distinctive orange logo of Aggreko , a British company. The generator set was connected to the superyacht by thick cords; one of the containers was emitting grayish exhaust.

At the Mina Rashid Marina, soon after Aggreko was contacted by The Times, workers removed the generator. “Having identified that the generator was being used to power a vessel that is allegedly connected to a sanctioned person, we immediately terminated this rental and have since recovered the generator,” the company said in a statement.

Mr. Mirza, the DP World spokesman, said the Aggreko generator had been replaced with one from a local supplier.

P&O Marinas arranged for the diesel generator to provide power for the Madame Gu because that part of the pier, a holding area, has no shore-supplied electric power, said a port official in Dubai, who spoke on the condition of anonymity because he is not authorized to talk to the press.

“At the end of the day, if the U.A.E. hasn’t imposed sanctions, it’s not really their job to enforce other countries’ laws within their borders,” said Nabeel Yousef, a Washington-based partner at the law firm Freshfields, where he runs the sanctions practice. Nevertheless, “companies should not take comfort in the fact that their country has not imposed sanctions,” he added, “because even the smallest connection to the U.S. can lead to U.S. penalties.”

There has also been a notable absence onboard the Madame Gu in recent weeks: a flag. Unlike other ships moored nearby, including the Quantum Blue, a superyacht linked to the billionaire Sergei Galitsky, the Madame Gu appears to be stateless, apparently having been deflagged by the Cayman Islands.

Cayman Islands officials didn’t respond to an emailed inquiry about the ship’s status.

If DP World were to face fallout from U.S. sanctions enforcers, it wouldn’t be the first time the company has been the focus of attention in Washington. In 2006, DP World was seeking to manage some terminal operations at six American ports but dropped out of the deal after a bipartisan uproar in Congress.

Anton Troianovski contributed reporting from Turin, Italy, and Oleg Matsnev from Berlin.

Kate Kelly covers money, influence, and policy as a correspondent in the Washington bureau of the Times. Before that, she spent twenty years covering Wall Street deals, key players and their intersection with politics. She is the author of three books, including "The Education of Brett Kavanaugh." More about Kate Kelly

Michael Forsythe is a reporter on the investigations team. He was previously a correspondent in Hong Kong, covering the intersection of money and politics in China. He has also worked at Bloomberg News and is a United States Navy veteran. More about Michael Forsythe

Julian E. Barnes is a national security reporter based in Washington, covering the intelligence agencies. Before joining The Times in 2018, he wrote about security matters for The Wall Street Journal. More about Julian E. Barnes

Our Coverage of the War in Ukraine

News and Analysis

A day after securing a new term in a rubber-stamp presidential election, President Vladimir Putin of Russia said he would not back down in Russia’s war against Ukraine .

With additional American aid still in doubt, Lloyd Austin, the U.S. defense secretary, called for “creative, adaptable and sustainable ways” to continue arming Ukraine  and praised European allies who were trying to bolster Kyiv’s military.

Ukraine fired a volley of exploding drones  at Moscow and other targets on the final day of Russia’s presidential vote, the local authorities said, continuing a flurry of attacks timed for the election .

Symbolism or Strategy?: Ukrainians say that defending places with little strategic value is worth the cost in casualties and weapons , because the attacking Russians pay an even higher price. American officials aren’t so sure.

Elaborate Tales: As the Ukraine war grinds on, the Kremlin has created increasingly complex fabrications online  to discredit Ukraine’s leader, Volodymyr Zelensky, and undermine the country’s support in the West.

Targeting Russia’s Oil Industry: With its army short of ammunition and troops to break the deadlock on the battlefield, Kyiv has increasingly taken the fight beyond the Ukrainian border, attacking oil infrastructure deep in Russian territory .

How We Verify Our Reporting

Our team of visual journalists analyzes satellite images, photographs , videos and radio transmissions  to independently confirm troop movements and other details.

We monitor and authenticate reports on social media, corroborating these with eyewitness accounts and interviews. Read more about our reporting efforts .

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NEXT Yacht Group's AB 80

Why the AB 80 is the perfect superyacht for American owners

In the spring of 2023, the American East Coast welcomed a new addition to its waters – the AB 80 superyacht . Built by AB Yachts, a brand of NEXT Yacht Group, she has a length overall of 25.4 metres and is designed to be driven by the owner themselves, granting the freedom to embark on extended cruises with family and friends or luxuriate in the experience of a high-end dayboat. With a captivating design and cutting-edge technologies, the AB 80 is the perfect entry-level yacht for American owners.

Design: Where art meets innovation

The AB 80 is a testament to the power of custom design, with every aspect crafted to cater to the owner's tastes and requirements. Custom-designed and exclusively fitted out by the Group's Centro Stile, the AB 80 is a true work of art on the water.

Described as the “Formula One car of the seas”, the yacht can glide across the water with a whopping top speed of 55 knots while exuding a sporty style with its polished grey colour scheme. With a shallow draught of just 1.3 metres, she can cruise in shallow waters such as the Caribbean and the Bahamas, making it an ideal choice for those with a thirst for exploration. Its design seamlessly blends luxury with functionality, creating the perfect environment for a first-time buyer.

Layout: Space, light and style in abundance

One of the AB 80's standout features is her practical layout, without compromising on volume, light or style. The main deck is a testament to this ethos. Here, you'll find a galley fitted out with heavy-duty appliances, strategically placed to serve both the dining area, which seats eight guests, and the aft cockpit. With fully retractable sliding doors, this space becomes incredibly versatile. It's perfect for cooking, mixing cocktails or enjoying a game of football or baseball on the yacht's enormous TV screen. A custom-made sofa completes the lounge area, while a state-of-the-art up-and-down TV system separates it from the pilot house, providing guests with both entertainment and privacy.

The main-deck configuration has allowed for four guest cabins on the lower deck, including an impressive aft, full-beam master stateroom and a forward VIP suite that is nearly a second master cabin. Additionally, two twin cabins amidships offer comfortable accommodations for guests. One of these twin cabins features two sliding beds that can easily be converted into a double size bed at the push of a button, ensuring flexibility for various guest preferences.

Entertainment: Unforgettable parties and gatherings

The AB 80 has much to offer party guests. With expansive sunbathing areas in both the aft and fore cockpits and on the flybridge, this yacht is ready to accommodate your celebrations. A 12,000-Watt stereo system ensures that music fills the air, setting the stage for memorable moments. Whether you're anchoring with other yachts on a Miami sandbar, enjoying a beach party in the Bahamas or cruising in the Hamptons, the AB 80 is built to enhance your social experiences.

Activity: Endless watersports fun

For water sports enthusiasts, the AB 80 comes equipped with a spacious aft garage that can store two Jet Skis. Thanks to a convenient slide system, launching and recovering these water toys is a breeze. This feature ensures that your days on the water are filled with endless excitement and adventure.

Practicality: Efficiency and performance

When it comes to design and performance, the AB 80 is the epitome of efficiency. With a draught of just 1.3 metres, she can cruise in shallow waters, opening up a world of possibilities for exploration and anchoring in picturesque, less-travelled locales such as the Caribbean and the Bahamas.

Despite her impressive performance and manoeuvrability, the AB 80 maintains an exceptionally low-fuel consumption rate, thanks to her reduced displacement and a meticulously engineered construction approach. Her propulsion system also ensures each nautical mile is covered with minimal environmental impact.

“The secret of AB Yachts' success in the US is certainly our great focus on the specific needs of American owners in terms of functional and versatile layouts and technical solutions – aimed at making the most of their lifestyle and offering maximum comfort both when cruising and at anchor,” comments Gennaro Candida De Matteo, CEO of NEXT Yacht Group. “Owners are, however, increasingly attracted by the 'emotional' style we capture in our products: the adrenaline of speed, maximum safety and manoeuvrability even in the steepest turns, a very limited draught – a crucial feature to cruise in Florida or literally 'rest the bow' on a beach in the Bahamas – and the sense of wellbeing that pervades the bright, welcoming interiors. All features that reflect our core mission: to stir emotions.”

The AB 80 is a testament to the brand's commitment to providing American owners with a yacht that combines cutting-edge design, innovation and an array of luxurious amenities. And as if the AB 80 wasn't impressive enough, it will soon be joined by the AB 120, a brand-new model set to make its world debut exclusively in the United States.

For more information on the AB 80, contact the team at NEXT Yacht Group today .

Sponsored content created for NEXT Yacht Group

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Indian American owner of luxury yacht threatens to kill dock worker

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The altercation began when Ajay Thakore was told not park his $4.5 million luxury yacht at a private harbor

California-based Indian American entrepreneur Ajay Thakore threatened to kill a young dock worker who would not let him park his multimillion-dollar luxury yacht at San Diego Marina, according to media reports.

He also dropped his pants and made several threatening gestures to the employee during the altercation in the late afternoon of Sunday, March 10, SanDiegoVille reported.

Thakore, who goes by his social media name, Ace Rogers, attempted to dock his $4.5 million ‘Tecnomar for Lamborghini 63’ yacht at the private Marriott Marquis Marina to pick up someone, when 21-year-old Joseph Holt who works at Seaforth Boat Rentals, told him he couldn’t park there.

A video is circulating showing what appears to be the owner of San Diego’s famous Lamborghini yacht threatening a dock worker in downtown San Diego, according to the newspaper.

The boat owner is also in the process of civil litigation with a second San Diego restaurant. He recently made news after former UFC champion Chuck Liddell fell off his yacht in San Diego Bay.

READ: Indian American Amit Patel gets 6 years for embezzling $22 million from Jaguars (March 14, 2024)

“I’ll kill you! I will kill you! You know I’ll kill you! I will kill you! I will kill you!”, the man on the Lamborghini boat is heard shouting, as the dock worker responds inaudibly. “Yea I doubt it! Ace Rogers, call me! Time and place!”

The interaction quickly became heated, resulting in the boat owner berating the employee, then verbally threatening him, as well as reportedly throwing money in the water as he allegedly insulted the employee’s social status.

In a second video, it appears the man on the boat pulls his pants down and makes lewd gestures toward the people on the dock.

Thakore’s bright blue boat is the only Lamborghini yacht sited on the United States’ West Coast and only the second seen in the United States.

Thakore made news in late 2021 after he was publicly accused of harassing a La Jolla pizza eatery, according to SanDiegoVille .

In response to American Pizza Manufacturing founder Andrew Melone‘s public accusations, a lawsuit was filed on Nov. 10 in US District Court for the Southern District of California by Gopher Media LLC (formerly known as Local Clicks and doing business as Doctor Multimedia) and Ajay Thakore.

In the complaint, the plaintiffs assert they were organizing a First Amendment-protected boycott against American Pizza Manufacturing following racist treatment by the restaurant’s owner.

“Thakore has also urged a boycott of AMP because of its discriminatory and racist treatment of and attitude toward those of Arab, Indian (from India), and/or Asian descent,” according to the complaint. “Thakore has also urged a boycott of AMP because of its discriminatory and racist treatment of and attitude toward members of the LGBQTIA community.”

The lawsuit against American Pizza Manufacturing and Andrew Melone asks for “an award of actual and compensatory damages in an amount of $10 million and/or an amount to be proven at trial.”

In response to the lawsuit, American Pizza Manufacturing filed a complaint in early 2022 accusing Thakore of “relentless and ongoing campaign of harassment” against the restaurant while “libeling [APM and] … unfairly interfering with APM’s business.”

According to the San Diego County Superior Court Register of Actions, there are several other lawsuits pending between Thakore and other persons and entities.

Among the civil lawsuits, there is a complaint filed by Thakore against the parent company that owns Nautilus Tavern in San Diego’s Bird Rock community of La Jolla, once again alleging the restaurant discriminated against Thakore.

In the Cross-Complaint filed by Nautilus Tavern ownership against Thakore, claims include stalking, intentional infliction of emotional distress, intentional interference with prospective economic relations, and negligent interference with prospective economic relations. The cross-complaint goes as far as to accuse Thakore of urinating on the floor of the La Jolla bar.

The lawsuit between Ajay Thakore and Nautilus Tavern ownership MLT Encinitas LLC is still ongoing. A civil case management conference is scheduled for June 28, 2024, according to SanDiegoVille.

In addition to Doctor Multimedia and Local Clicks Digital Marketing, Thakore allegedly has ownership interests in Aspen’s Dog House within The Shops at La Jolla Village, Three Legs Coffee Roasters in La Jolla, and The Flower Pot Bakery & Cafe in La Jolla.

The Lamborghini yacht, named “Aspen & Delilah” after Ajay “Ace Rogers” Thakore’s daughter and three-legged dog, is currently docked in the downtown San Diego Bay area. A crew made up of 20-30 people purportedly help maintain the one-of-a-kind 63′ boat.

AB Wire stories are filed by American Bazaar staff writers and contributors. If you want to contact one of our reporters, feel free to email [email protected]

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Inside Florida's 'Little Moscow,' where Russian money flows thanks to 'rich daddies' snapping up real estate

  • "Little Moscow" is the nickname for Sunny Isles Beach, Florida, which is flowing with Russian money.
  • Previously a strip of motels, the island was revitalized in the 1990s with luxury developments.
  • Many Russians snapped up properties, but they're afraid sanctions could prevent them from buying more .

Insider Today

Welcome to "Little Moscow."

Like its namesake city, it's home to many Russian elites. Unlike it's namesake city, it's located on a small strip of land near Miami: Sunny Isles Beach, Florida.

"They love to be here, and they like to spend their money and enjoy their life," Lana Bell, a real-estate agent, recently told the News Nation correspondent Brian Entin , referring to her wealthy Russian clientele.

Russian money has brought a real-estate boom to the region over the years, but now these power players are afraid they might not be able to enjoy the Miami sunshine much longer. As Entin reported, they're worried the escalating Russia-Ukraine conflict will blacklist them from buying American real estate, although Bell said it hasn't been a problem so far.

However, existing sanctions from past political events already slowed their buying efforts in recent years, and Biden has said the US will seize luxury apartments from Russian oligarchs with wealth parked in the country. But not all of Little Moscow's residents are wealthy, and not all of them support the war. 

Here's a look at the rise of Little Moscow and the lives of the Russians who made it happen.

Sunny Isles Beach is a 1.5-mile strip of island that sits between the Atlantic Ocean and Intracoastal Waterway in South Florida. It's about a 40-minute drive to downtown Miami, depending on traffic.

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Sunny Isles Beach is located in northeastern Miami-Dade county. As of 2020, it's home to 22,342 people . The most recent data from the Census' American Community Survey that tracked population from 2015 to 2019 shows that there are 1,079 Russian-born residents living there — more than any country in Europe or Asia.

It's a place where beachfront high-rise hotels and condos dot the coastline, towering over an idyllic scene of white-sand beaches and sparkling turquoise water. Compared to the dark and brutal winters of Russia, it's a slice of paradise.

Before becoming a Russian luxury hot spot, the city was full of quirk and charm thanks to beachfront motels and tourists.

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Fred Grimm wrote in the South Florida Sun Sentinel that the city was "once a linear tableau of South Florida kitsch, a seaside strip of themed motels, offering homage to ancient Egypt, Rome, the wild west, Polynesia, American Indians and so many nautical motifs, including Neptune and his water nymphs."

"Motel Row," a strip of 30 motels along the beach, was built in the 1950s and 1960s, when the city was known as Sunny Isles (before that it was called North Miami Beach). Tourism slowed its roll in the 1970s, resuming some 20 years later when most of the motels were replaced with luxury hotels, and Sunny Isles was renamed Sunny Isles Beach.

The city's luxury-development boom that first began in the 1990s revitalized the city's economy, which began to see an influx of wealth.

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The median home value in Sunny Isles is $555,042 , higher than the $469,562 median home value in Miami. The most expensive home in the area currently listed on Sotheby's is $13.9 million , and condos can cost as much as  $35 million . 

It's a place of well-known luxury. Consider the Porsche Design Tower , where residents can use an elevator for their cars. And the iconic Acqualina Resort was named the country's best continental resort four years in a row by US News & World Report . Nightly rates at the five-star resort start at $2,500 a night . 

Among these developments are several Trump Towers, a brand that has held a huge appeal among Russian investors looking to move their money in the post-Soviet economy.

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Trump doesn't actually own the buildings but licensed the use of his name there, The Washington Post reported . Real-estate agents told the Post in 2016 that Trump's name carries weight among the European, South American, and Asian elite, but especially among Russian oligarchs.

"When Russians get here, the first thing they ask is, 'Where is the Trump building?'" Ilya Masarsky, real-estate developer who has worked with Russian investors in the US, told The Post. 

Jose Lima, a salesperson for the company that developed the region's Trump towers, said at the time that Russian speakers bought about one-third of the 500 units he sold. 

A 2017 Reuters investigation found that at least 63 members of Russia's elite spent nearly $100 million buying property in Trump buildings in the region, including the nearby city of Hollywood. Reuters called some of the buyers "politically connected businessmen," adding that none seemed to be part of Putin's inner circle.

"Russian patriots are happy here; Sunny Isles is a happy place," Bell, the real-estate agent, told The Daily Beast in 2019 . "Russian men make money at home, they visit their Miami property just for a few months in winter. Some of these rich daddies are in their fifties or older, while their women are in their twenties; the beach is packed with really young pregnant Russian girls, girls with babies." 

A past Miami Herald investigation found that some of these buyers were the targets of US government investigations. Experts in illicit financing said Russian money gave the city its nickname of Little Moscow.

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The Miami Herald found in 2016 that at least 13 personal or company buyers in the Trump Towers were investigated by the government, including a Russian-American organized-crime group and a Mexican banker accused of robbing investors. It also found that about 60% of the units are owned by shell companies, which only hold assets like real estate and can be involved in money laundering.

Experts more recently told the Herald's Michael Wilner that illicit financing has helped Russians spend years snapping up properties along Florida's southeastern coast. They estimated that Russia's elite had more than $1 trillion in offshore accounts, which they said was disproportionally held in South Florida property.

As Julia Friedlander, director of the Atlantic Council's Economic Statecraft Initiative, told the publication, "We know what's happening based on patterns of behavior and observations from various sources, just like parts of Manhattan and parts of London. They're known as places where real estate will reliably retain its value."

The greater Miami region that Sunny Isles Beach is part of is also a popular place for birth tourism. Russian women have fueled a baby boom there in recent years.

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As NBC News reported in 2018 , having a baby in Miami is considered a status symbol in Moscow. Russian birth tourists told the publication that giving birth there means getting an American passport and better medical care. It's a legal act, as long as documents are filled out honestly, that allows their children the right to American citizenship and to sponsor their parents for a green card once they turn 21.

Wealthier Russians even hire agencies that offer birth-tourism packages that cost anywhere from $50,000 to $100,000, according to NBC News. Some of these companies offer Trump apartments as part of the package, the Daily Beast's Katie Zavadski reported . For $84,700, expectant Russian mothers can get an apartment in a Trump Tower with a gold-tiled bathtub and chauffeured Mercedes-Benz. 

Not all of the money flowing into Little Moscow is from Russia, nor is it all "dirty." And not all of the people who live there are wealthy.

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The Herald's Wilner reported that the area has also seen investments by overseas buyers in Europe and Latin America.

And, as Ari Odzer reported for local outlet NBC Miami , Sunny Isles Beach is also a sanctuary for refugees from the old Soviet Union and Russians on tourist visas. For this reason, he said, it's also known as Little Kyiv, Little Odessa, and Little Minsk. 

Locals told Odzer that the Russia-Ukraine conflict is dividing residents, with some supporting Putin and others who don't but are too afraid to say anything. Odzer wrote "the fear of Putin is a real phenomenon," considering he could barely get any Russians to speak on the record about their president.

Russian real-estate purchasing has been slowing down in recent years because of sanctions.

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Tightened US sanctions in light of Moscow's interference in the US elections, as well as the Kremlin banning thousands of rich Russian law-enforcement officials from traveling abroad, left many Russians renting or selling their Sunny Isles Beach condos, the Daily Beast's Anna Nemstova reported in 2019 . 

"Russians can be easily recognized by their Bentleys and Rolls-Royces," Bell, the Russian real-estate agent, told Nemstova at the time. "But this year the sales have gone down. It is becoming problematic for the Russian elite to take their money out of the country; and here the rules demand full disclosure, the name of the buyer and the source of money."

However, Little Moscow still held the attention of "Russian corrupt bureaucrats," Ilya Shumanov, the deputy head of Transparency International, added. Those who could still travel came during the winter and conducted deals at restaurants in the Bal Harbor mall before returning home to conduct business again, Nemstova wrote.

Brokers also recently told Wilner that Russian purchases have dwindled in the past few years, but said that could change with new developments like the Bentley Tower and the St. Regis Sunny Isles.

Now, Russian elites in the area are worried new sanctions stemming from the Russia-Ukraine conflict could prevent them from buying real estate.

american yacht owners

President Joe Biden issued sanctions last week targeting Russia's elite and their families and restricting the Kremlin's ability to access Western financial institutions.

"We are extending the reach of US sanctions to prevent the elites close to Putin from using their kids to hide assets, evade costs, and squander the resources of the Russian people," a National Security Council official told Wilner. "This is a new approach."

While Little Moscow's elites are worried future sanctions will threaten their lifestyle, experts told Wilner the sanctions currently in place were unlikely to have a strong effect in South Florida. 

Anders Åslund, a Swedish economist and the author of "Russia's Crony Capitalism: The Path From Market Economy to Kleptocracy," doesn't think this will affect the Russian rich in the greater Miami region that Little Moscow is in. He told Wilner that the Miami Russians weren't powerful enough to feel the sanction burn.

As he put it, "These are comfortable people, rather than the top people."

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Best real estate company for high price category real estate according to the magazine «Novyy Adres»

First place in the Forbes rating № 4 (25). Leader in the number of closed deals in the segment of high-budget real estate according to the survey of NVM Business Consulting.

First place in the real estate market records award in the category of «Professional pride» with the project «Dvoryanskoye Gnezdo».

Only Russian company to win in three «International Property Awards» nominations.

Best real estate agency in Russia according to the «Premio Internazionale Le Fonti» award. Winner of two «International Property Awards» nominations.

Best real estate agency in Russia according to the «International Property Awards» with the presence of representatives of The Daily Telegraph.

First place in the «European Property Awards» in «Real Estate Agency Marketing for Russia». A high appraisal of an important part of the company’s work — management of marketing and sales of real estate developers.

First place in the «European Property Awards» in «Real Estate Agency for Moscow, Russia»

Best company in both Real estate and Marketing according to the «European Property Awards»

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Solutions for developers, investors and buyers

Urgent buyout of distress-assets, apartments trade-in, accurate assessment with ai, investors club, apartments for sale, investing in redevelopment.

«Working daily with buyers and sellers of real estate. We know everything, from the customer’s first call up to the final sales.»

Ekaterina Rumyantseva,

our own full-time team of analysts and investment advisors

Created and implemented more than 200 consulting projects, analysis of the target group behavior utilizing a modern crm system, analysis of 1,000 customer requests and 300 transactions per year, own real estate database, updated daily, purchase and support of related databases, data on real estate lots in “closed sales”, information about the actual transaction sum and bargaining, kalinka realty.

Buying, selling and renting real estate

Kalinka Consulting

Complex solutions for developers

Kalinka Legal services

Legal support and audit

Kalinka Design

Professional selection of architects and designers

Kalinka analytics

Reviews of the real estate market in Moscow and MO

Kalinka Media

Current webinars and  situation in market

Kalinka International

Profitable investment. Citizenship and residence permit

30% of real estate transactions are not done after the purchase decision has been made. That’s why we maintain a constant dialogue with the buyer, lawyers, mortgage brokers and designers, to study the needs and implement the solution.

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Our Partners

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  • AB Development
  • ANT Development
  • Capital Group
  • Central Properties
  • Insigma Development

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Investment companies

  • Capital Partners
  • Hines International
  • Absolut Bank
  • VTB Capital
  • Gazprombank
  • Sberbank Capital
  • Otkritie Capital

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Design and architecture

  • Andrew Martin
  • Artistic Design
  • Aukett Swanke
  • Candy & Candy
  • Helene Benhamou
  • Jade Jagger
  • Kelly Hoppen

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Kalinka International (UAE, Turkey)

Programs for any purpose:

  • Visa-free travel
  • Life and business abroad
  • Tax residency
  • Cross-border movement under restrictions
  • Education and career of children abroad

Kalinka Dubai

  • Buying property in the UAE
  • Sightseeing tours of the best residential complexes in Dubai
  • Capital transfer (urgent purchase of ready-made companies in the UAE, opening an account)
  • Long stay apartments
  • Yacht charter
  • School education
  • Restaurants, shopping, household matters
  • Flight organization.
  • Assistance with international itinerary planning

Simplified visa system

No income tax, high return on investment, full ownership.

The Ritz-Carlton Residences

Collection of luxury residences

UAE, Dubai, Dubai International Financial Center, Al Sukuk Street, 9/1

The complex is located on the coast of the picturesque bay of Dubai Creek, where the world-famous Ras Al Khor flamingo and wildlife sanctuary is located. A unique location among mangrove forests, small lagoons and lakes combines peace and tranquility with the advantages of a large metropolis.

Rent – Start of sales.year

DAMAC Lagoons

Family low-rise residential complex

UAE, Dubai, Dubai Land, El Hebia Fift

Family low-rise residential complex in the spirit of the Mediterranean cities in the depths of Dubai. Convenient location allows you to get to large shopping centers, business clusters and offices of international companies in 20 minutes. Nearby are medical facilities, schools, an equestrian club, golf courses and the Dubai Sports City multifunctional complex.

Rent – year

DAMAC Cavalli Tower

UAE, Dubai, Dubai Media City

Elite residential complex on the west coast of Dubai, in the prestigious Al Sufuh area.

Atlantis The Royal Resort & Residences

Complex in the center of the Palm Jumeirah crescent

UAE, Dubai, Jumeirah, Palm JumeirahUnited Arab Emirates, Dubai, Jumeirah, Palm Jumeirah

Luxury residential complex in the center of the crescent of the Palm Jumeirah in Dubai. The developed infrastructure of the man-made island is impressive: gourmet restaurants, modern fitness studios, luxurious wellness clubs, shops and boutiques in Nakheel Mall. Well-maintained walking and jogging paths stretch along the many kilometers of beaches with snow-white sands.

Canal-front luxury serviced apartments

UAE, Emirate of Dubai, Zabeel, Business Bay

Luxury canal-front serviced apartments in the heart of Dubai.

W Residences Dubai Downtown

Complex in the prestigious Downtown area

UAE, Dubai, Zabeel, Burj Khalifa

Elite residential complex in the prestigious Downtown area, in the center of Dubai.

Kalinka Turkey

  • Elite real estate
  • New buildings and secondary offers
  • Investment property
  • Sightseeing tours
  • Second Citizenship by Investment Program

Get a selection of foreign investment offers

Moscow exclusive properties, 6 unique projects, popular areas of moscow, secure business transactions, developed infrastructure.

Sociocultural cluster with modern apartment buildings

Zvenigorodskaya 2nd st., 12

The residential quarter is located on an area of 4.5 hectares, 200 meters from the Ulitsa 1905 Goda metro station, surrounded by parks: Krasnaya Presnya, Krasnogvardeyskie Prudy, the December Uprising Park and the Presnensky Childrens Park

Poklonnaya 9

Premium apartment house

Poklonnaya st., 9

he complex is located in a prestigious location in the west of the capital. Panoramic windows offer magnificent views of Victory Park, Sparrow Hills and Moscow City towers.

Victory Park Residences

Elite family residences in the west of the capital

Brothers Fonchenko st., vl. 3

he complex is surrounded by green parks and iconic sights of the city. Panoramic windows offer magnificent views of Poklonnaya Gora, the Triumphal Arch and City skyscrapers.

Capital Towers

Residential skyscrapers 500 meters from Moscow City

Krasnopresnenskaya emb., 14, building 1

A 10-minute walk from the metro stations "International" and "Vystavochnaya", a little further - the platform of the MCC "Business Center" and "Testovskaya" of the first Moscow diameter. For motorists, convenient exits to the Third Ring Road and the Garden Ring are located 6 minutes from the complex.

Neva Towers

Complex on the territory of the business center Moscow-City

Krasnogvardeisky 1st pr-d, 17-18

Panoramic windows offer direct views of the legendary Ukraina Hotel, the Government House and the embankments of the Moscow River. Residents have access to the entire infrastructure of the business district within a 10-minute walk. Afimall shopping center, multiplex cinema, cafes and restaurants, fitness studios, beauty salons and viewing platforms.

Club city on the river

Volokolamskoe sh., vl. 71/12

Moskvoretsky Park is a 5-minute walk away. In 10 minutes by car - the parks Shodnya, Pokrovskoe-Streshnevo and Stroginsky. A grandiose sports infrastructure is planned on the territory of the peninsula: more than 30 types of activities in one location and three yacht clubs in the neighborhood.

Community participation

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PR and Media

Kalinka is in the TOP-3 in terms of citation in  the media in the elite real estate market and in the TOP-5 of business class and investment segment. Monthly number of publications mentioning Kalinka  — 250-300. Main sources: RBC, Forbes, Vedomosti, Kommersant, BFM, Elitnoe.ru. Joint analytics and press releases with leading Moscow developers: Insigma, AEON, Level Group and others. The Kalinka press service is always open to the media: journalists can be sure of comments, interviews and expert opinions. We promptly respond to requests and help the editors in the preparation of objective and high-quality materials.

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A fifth of the entire interior improvement in the premium segment is created in the area of Minskaya Street

According to research of the Kalinka Ecosystem, the total area of internal landscaping in 40 projects on the premium real estate market in Moscow is 43.5 hectares.

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Russians remain the leaders in buying Turkish real estate

Russians still occupy the first place in the demand for real estate in Turkey among foreigners. However, compared to 2022, there is a decrease in demand from our fellow citizens by 17%.

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"Obydensky No. 1" became the best-selling club house in Moscow

According to a study of the Kalinka ecosystem, sales in 11 club houses started in the capital in 2023. The leader in sales was the club house "Obydenskiy No. 1", in other projects clients purchased on average four times fewer apartments.

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The Kalinka ecosystem has summed up the results of its first year of operation in the UAE.

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The Kalinka ecosystem has strengthened its top management team.

In two regional divisions of the company - Kalinka Turkiye and Kalinka Middle East - new sales directors have been appointed.

american yacht owners

Kalinka Middle East has received several awards from a leading developer in Abu Dhabi.

The company won in several nominations as a developer of Aldar Properties and has been included among the best real estate agencies in Abu Dhabi.

Stay up to date with the latest news

We promise to send only interesting and important articles.

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CEO of International consulting company Kalinka

Alexey <br>Chumalov

Alexey Chumalov

General manager of Kalinka Moscow

Alexander <br>Shibaev

Alexander Shibaev

General manager of Kalinka Middle East

Yulia <br>Kovaleva

Yulia Kovaleva

City real estate manager

Polina<br> Medelyanovskaya

Polina Medelyanovskaya

Denis <br>Trusov

Denis Trusov

Dmitry <br>Mezhinsky

Dmitry Mezhinsky

Mikhail<br> Dolgov

Mikhail Dolgov

Head of Country Property Department

IMAGES

  1. The Top 40 of the World's Richest Yacht Owners • 2023

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  2. How to Keep Yachting Expenses Manageable

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  3. 8 Reasons Yacht Owners Charter Their Yachts

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  4. FLAG Yacht • Tommy Hilfiger $45M Superyacht

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  5. American Yacht Owner Sells 92-Foot Model, Goes Bigger With Horizon

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  6. Serial yacht owners: Attessa

    american yacht owners

COMMENTS

  1. Yachts Owned by Billionaires, From Jeff Bezos to Larry Page

    A mystery buyer bought a 414-foot superyacht that was once owned by late Microsoft co-founder Paul Allen for $278 million. Allen had the boat, which was named "Octopus," built in 2003 for $200 ...

  2. The Top 40 of the World's Richest Yacht Owners • 2024

    42. Gianluigi Aponte. Gianluigi Aponte. Amo. 47m. All yacht owners are 'rich', but some are richer than others. For example, when a wealthy person is able to purchase a US$ 10 million yacht. His net worth is probably between US$ 50 million and US$ 100 million.

  3. Billionaire Yachts: Jeff Bezos, Larry Ellison, Sergey Brin

    The 256-foot yacht is named Venus, and is worth $130 million. AP Photo/Peter Dejong Source: Business Insider. Google's billionaire cofounders, Larry Page and Sergey Brin, are known to splurge. An ...

  4. World's Richest Yacht Owners

    Worth $90.6 billion in 2021, Larry Ellison is an American business magnate and investor. One of the most famous yacht owners, he is best known for being the co-founder and executive chairman of Oracle Corporation. Oracle Corporation is an American multinational computer technology corporation known as the world's largest database management ...

  5. STEPHEN ORENSTEIN: the German-American Billionaire and ...

    He is the owner of the yacht LIVA O, built as Project Celerius in 2023. The LIVA O Yacht is the largest and most luxurious yacht ever built by Abeking & Rasmussen, designed by Joseph Dirand Architecture.. The yacht features a sleek black hull, white superstructure, expansive pool on the aft deck, and a cutting-edge hybrid drive system powered by MTU engines.

  6. On board 67m Benetti superyacht Calex with owner David Wilson

    American owners buy American yachts, right? The owner of 67-metre Benetti Calex certainly did for many years, until the size requirements of his boat pushed him across the Atlantic. Before his first Benetti, David Wilson owned a succession of Westport yachts, moving from a 34-metre Westport 112 to a 40-metre and then built a 50-metre, which he and his family enjoyed for many years.

  7. 10 of the most impressive superyachts owned by billionaires

    Owned by: Russian businessman Roman Abramovich, the owner of private investment company Millhouse LLC and owner of Chelsea Football Club. His current net worth is $17.4 billion. Key features: 162.5 metres in length / 9 decks / Top speed of 22 knots / Two swimming pools / Disco hall / Mini submarine / 2 helicopter pads / 24 guest cabins.

  8. Tech billionaires and their yachts

    American business magnate Larry Ellison is the co-founder of the billion-dollar computer tech corporation Oracle. In 2004, he commissioned the 138-metre Lürssen superyacht Rising Sun (pictured), which stands today as the 15th largest yacht in the world. It was also the last yacht that ever came from the drawing boards of legendary designed Jon Bannenberg, sporting a military-esque profile ...

  9. The Largest U.S.-Built Private Superyacht Belongs to a Billionaire

    1 Classic American Yacht Sells for $9.9 Million, Still a Head-Turner 2 This Classic American Yacht Blends Distinctive Elegance With Modern Comfort 3 Serial Boat Owner Parts With His Biggest Yacht ...

  10. Owner

    In an exclusive interview with SuperyachtNews, Denison discusses the typical American yachtsmen, the illusion of younger yacht owners, fractional ownership, Dollar vs Euro Parity, and the future of charter. First and foremost, Denison has stated that his focus, for now, is on the rest of the American Season following a frenzy of charter ...

  11. The Age of the Superyacht

    The yacht venders were in suits, but the new owners were in upscale Euro casual: untucked linen, tight jeans, twelve-hundred-dollar Prada sneakers. The family declined to speak to me (and the ...

  12. Millennials Who Want New Designs Are the New Superyacht Owners

    Owners of the recently launched 387-foot Celerius wanted just that and chose Paris-based architect Joseph Dirand, who had never designed a yacht before. He broke loads of norms, including an ...

  13. Yachts owned by celebrities

    Ex-England football star and Inter Miami owner David Beckham has been revealed as the owner of a 28 metre Riva Argo 90.Named after Beckham's iconic football shirt number, Seven was launched in October 2021 and constructed in GRP. Studio Officina Italiana Design penned the yacht both inside and out, while Ferretti Engineering Department oversaw her naval architecture.

  14. American Spirit: The best large-yacht builders in the USA

    Burger Boat Company, Manitowoc, Wisc. Custom yachts to 200 feet (61 meters), aluminum and steel; refit and service. Founded in 1863, Burger has evolved from commercial boats to fully custom yachts. "We're a smaller shipyard, so owners of boats up to 200 feet find us advantageous over some of the bigger shipyards; they get more attention ...

  15. J Class: the enduring appeal of the world's most majestic yachts

    Key to the American effort was the remarkable Harold Vanderbilt of the New York Yacht Club, who had inherited fabulous wealth from the family's railroad companies, making him one of the country ...

  16. The World's Biggest Yachts And Their Billionaire Owners

    When we at "Boat International" first produced our Register, back in 1990, superyachting was still in relative infancy. Indeed, to get on the Top 100 list in 1990, your yacht needed to be just 147 ...

  17. New Law Allows Patriotic American Superyacht Owners to ...

    Jordi C / Shutterstock. President Trump this week signed a bill that will allow American owners of large yachts to finally register their vessels under the United States flag. Until now, U.S. law ...

  18. U.S. Eyes $156 Million Yacht in Dubai Linked to a Russian Oligarch

    The U.S. Justice Department is taking steps to seize the Madame Gu, a 324-foot luxury yacht, but it will be diplomatically thorny. The Madame Gu, a superyacht linked to Russian billionaire and ...

  19. Dallas Millionaire Couple Parts With Their American-Made Floating

    The future owner admired the American yacht at the Miami International Boat Show, and that's how a sale was made in record time (after just three months on the market) for somewhere around $11 ...

  20. Why Don't More American Owners Offer Their Yachts for Charter in U.S

    In the final leg of our journey, we explore further reasons why we don't see more American yacht owners offer their yachts for charter in U.S. waters. Part of the problem likely stems from brokerage listing disclaimers, for example. A further reason is the customs duty, a critical tariff that fuels the U.S. economy.

  21. Why the AB 80 is the perfect superyacht for American owners

    In the spring of 2023, the American East Coast welcomed a new addition to its waters - the AB 80 superyacht.Built by AB Yachts, a brand of NEXT Yacht Group, she has a length overall of 25.4 metres and is designed to be driven by the owner themselves, granting the freedom to embark on extended cruises with family and friends or luxuriate in the experience of a high-end dayboat.

  22. Indian American owner of luxury yacht threatens to kill dock worker

    The altercation began when Ajay Thakore was told not park his $4.5 million luxury yacht at a private harbor. California-based Indian American entrepreneur Ajay Thakore threatened to kill a young ...

  23. Home

    At American Yacht Management, our number one priority is making yacht ownership easier and more cost-efficient for our clients. We take great pride in providing world-class yacht management services, designed to get the most out of your investment. Our team is dedicated to providing personalized attention and ensuring your yacht remains in ...

  24. Inside Florida's 'Little Moscow,' Where Russian Money Flows

    Bernhard Lang/Getty Images Sunny Isles Beach is located in northeastern Miami-Dade county. As of 2020, it's home to 22,342 people.The most recent data from the Census' American Community Survey ...

  25. About Kalinka Group

    Yacht charter; School education; Restaurants, shopping, household matters; Flight organization. Assistance with international itinerary planning; Simplified visa system. ... Residence owners have access to the same infrastructure as hotel guests: 3 treatment rooms, saunas, baths, jacuzzi, relaxation room, fitness center equipped with the latest ...