Jeff Bezos and the secretive world of superyachts

Jeff Bezos and the secretive world of superyachts

markets
May 15, 2021 by Bobby Chaim
34
News that Jeff Bezos has bought a “superyacht” has revived interest in the secretive world of the uber-rich globetrotters who enjoy these ultimate status symbols. And through it all, shipyards have continued turning out mega yachts that experts say are growing larger as they gain in popularity. It is estimated to cost about $500m ,
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News that Jeff Bezos has bought a “superyacht” has revived interest in the secretive world of the uber-rich globetrotters who enjoy these ultimate status symbols.

And through it all, shipyards have continued turning out mega yachts that experts say are growing larger as they gain in popularity.

It is estimated to cost about $500m , a drop in the ocean for the world’s richest man, whose wealth at one point jumped $13bn in a single day in 2020.

That price tag does not include a smaller motorised “support yacht” that Bezos also plans to buy.

The highly secretive superyacht project, known as Y721, is due to be completed sometime next month, according to Bloomberg.

Oceanco, the Dutch yacht maker, has not commented on the project.

Privacy is the whole point of owning a yacht, says Tucker, who calls it an “opaque industry”.

“These are very private assets and one of the reasons they’re bought is for privacy,” says Tucker.

They’re getting more comfortable too, and are going to places beyond the “classic glamour ports” like Monaco, Springer says.

Annual operating costs amount to about 10% of the purchase price, says Tucker from VesselsValue.

But if you’re Jeff Bezos, there’s no need to book a ticket.

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