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Jeff Bezos: Amazon CEO buys $500m superyacht so big it comes with a ‘support yacht’

Experts say that yacht industry has seen a boom during the pandemic

Namita Singh
Wednesday 12 May 2021 00:01 BST
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Jeff Bezos, Amazon founder and the world’s richest man, will reportedly soon be the owner of a mega-yacht he bought for $500 million, almost double the price he paid to buy theWashington Post 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 yachtmaker, 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 per cent 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 per cent 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.

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