Amazon CEO Jeff Bezos buys a Superyacht for $500 million

The world’s richest man, Jeff Bezos has been named as the soon-to-be proud owner of one of the most expensive and extravagant superyachts ever built.

0

Amazon CEO Jeff Bezos buys a Superyacht for $500 million www.financialstand.com

Amazon founder and the world’s richest man, Jeff Bezos will reportedly soon be the owner of a mega-yacht he bought for $500 million, almost double the price he paid to buy the WashingtonPost newspaper in 2013.

While the details of the vessel have largely been kept under wrap, the 417-foot superyacht is so massive that it has a yacht of its own, along with a helipad, reported Bloomberg.

Developed by Dutch yacht maker, Oceano, it is named project Y721 and has several decks along with three huge masts, reported the outlet. Said to be the largest sailing yacht built in the Netherlands, it is due to be finished next month, almost two years after it was ordered.

While the cost of the yacht is inconceivable for many, the amount is only a fraction of Mr. Bezos’s total worth which currently stands at $191 billion. In fact, according to Bloomberg’s Billionaire Index, Mr. Bezos gained about $75 billion in 2020, as the world was fighting the pandemic.

Amazon’s stocks gained 75 percent last year as consumers turned towards its services for shopping during the pandemic, reported CNN. Bezos isn’t the only billionaire to have gained fortune during the pandemic.

According to a report published by Institute for Policy Studies and Americans for Tax fairness, US billionaires have collectively increased their wealth by $1.1 trillion during the pandemic, making them 40 percent richer than they were before the pandemic began.

While Covid-19 was not a factor when Mr. Bezos invested his fortune in the superyacht, a Bloomberg analysis showed that its market has grown especially during the pandemic. “The market’s been roaring,” Sam Tucker, head of superyacht research at London-based VesselsValue, was quoted as saying by the outlet.

He further said that the demand for extravagantly high-end yachts has outstripped supply. “It’s impossible to get a slot in a new-build yard,” Mr. Tucker said. “They’re totally booked.”

Aino Grapin, chief executive officer of superyacht interiors studio Winch Design, told the outlet that the yacht allows the explorer to cruise for 9,000 nautical miles without the need to refuel it. “Clients can enjoy life at sea for long periods of time without having to go mix with others,” she said.

What you should know

The COVID-19 pandemic positively impacted the US boat and yacht industry as wealthy Americans opted to fire up their water vehicles and go for a spin!

Get real time updates directly on you device, subscribe now.

Leave a Reply

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More