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Sears chairman Eddie Lampert has a net worth of $1 billion — from a $130 million yacht to a home on 'billionaire bunker' island, here's how he spends his fortune

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Edward Lampert

  • Eddie Lampert, the chairman and former CEO of Sears, has an estimated net worth of $1 billion.
  • Lampert owns three homes, including one on the "billionaire bunker" island in Florida, and a $130 million yacht.
  • Lampert is a member of the ultraexclusive Skull and Bones society at Yale University.
  • In 2003, he was kidnapped and held at gunpoint — and negotiated his way free.

Eddie Lampert, the chairman and former CEO of Sears, has had an eventful career.

With an estimated net worth of $1 billion, Lampert was once hailed as a genius hedge-fund manager and the next Warren Buffett. He's a member of Yale's ultraexclusive Skull and Bones secret society, along with three former presidents, and Treasury Secretary Steven Mnuchin was his college roommate.

He also managed to save Kmart from bankruptcy in the early 2000s, but not before he was kidnapped and held at gunpoint for 30 hours in a Connecticut hotel. He reportedly talked his captors into releasing him, then capped off the Kmart deal a week later.

Now, after Lampert merged Kmart with Sears, the department store is on the brink of liquidation.

Lampert has been criticized for his management of Sears, which he reportedly runs from his sprawling $38 million estate in a wealthy Florida community known as "billionaire bunker." The executive also owns houses in Connecticut and Colorado — not to mention a $130 million yacht.

Read on to see how Sears' embattled chairman made — and spends — his $1 billion fortune.

SEE ALSO: Sears is getting one last chance to save itself from oblivion

DON'T MISS: Inside Sears' death spiral: How an iconic American brand has been driven to the edge of bankruptcy

Eddie Lampert, 56, is the chairman of Sears Holdings, the company that owns Sears and Kmart.

Source: Forbes



Lampert's net worth is an estimated $1 billion, and he hasn't been shy about spending: He owns three sprawling homes and a $130 million yacht.

Source: Business Insider



But Lampert wasn't always this wealthy. Although he grew up in an affluent family in Roslyn, New York, his life changed at age 14 when his father, a successful attorney, died of a heart attack. Lampert helped his family make ends meet by taking jobs at warehouses stocking shelves and packing boxes.

Source:CNN



See the rest of the story at Business Insider

Take a look at the 14 superyachts with the best interior and exterior design in 2019

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Irisha

  • Boat International recently released the list of winners from this year's Design & Innovation Awards.
  • The annual competition awards prizes in both aesthetic and technical categories for yachts of different sizes.
  • This year's awards included 14 prize-winning yachts from various designers.
  • The motor yacht Elandess took home the most awards, with a grand total of four.

Superyacht magazine Boat International recently announced the winners of the 2019 Boat International Design & Innovation Awards. The awards ceremony celebrates advancements in yacht design and often unveils the newest boats designed by skilled architects.

This year's competition included a total of 61 nominated yachts. In addition to recognizing boat categories, the ceremony honored two individuals: Yihharn Liu for Young Designer of the Year and Ron Holland for the Lifetime Achievement Award. Holland's many designs include the world's first hybrid sailing yacht, called the Ethereal.

Read more: The world's most expensive superyachts come with helipads, movie theaters, and swimming pools — take a look

Alongside its honorary guests, the awards highlighted one new category called The Game Changer. Other awards included the usual prizes for exterior styling, interior design, naval architecture, and ecological innovation.

Keep reading to see the complete list of award winners from 2019. We listed each winning vessel, along with its length and number of guests.

SEE ALSO: I spent 3 years writing about yachts, and owning one takes way more money than you think

NOW READ: 9 outrageous yachts appearing at the Monaco Yacht Show owned by some of the world's richest billionaires

Best Exterior Styling, Motor Yachts Below 39m

WinnerRiva 110' Dolcevita

Length of vessel: 33.53 meters

No. of Guests: Not specified



Best Exterior Styling, Motor Yachts 40m to 59m

Winner: Irisha

Length of vessel: 51 meters

No. of Guests: 10



Best Exterior Styling, Motor Yachts 60m and Above

Winner: Elandess

Length of vessel: 74.5 meters

No. of Guests: 14



See the rest of the story at Business Insider

Take a look inside the 7-cabin superyacht with an underwater lounge that was just named best in class for interior and exterior design

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Elandess

  • Superyacht Elandess won four awards at the annual Boat International Design & Innovation Awards in January, including best interior and exterior design.
  • Elandess was the most decorated boat at the show: No other yacht won more than one award a piece.
  • The custom-built yacht is owned by Travelex founder Lloyd Dorfman and features the second-ever sub-waterline lounge.

Elandess is the superyacht to watch in 2019.

The 244-foot yacht took home four awards at this year's Boat International Design & Innovation Awards. For its class size category, Elandess won Best Exterior Styling, Best Interior Design, Best General Arrangement & Deck Design, and Best Lifestyle Feature Design.

Read more: Take a look at the 14 superyachts with the best interior and exterior design in 2019

Abeking & Rasmussen, a prestigious German shipyard, was contracted for naval architecture and building. Interior and exterior styling and design work on the boat was done by Harrison Eidsgaard.

Elandess Superyacht

Elandess is owned by billionaire Lloyd Dorfman, who commissioned the work from scratch with Abeking & Rasmussen. Dorfman is the founder of currency exchange company Travelex, and has a net worth of around $1.2 billion This is his third yacht, and his second with Abeking & Rasmussen. This superyacht replaces the previous Elandess — now called Elypsian — which sold for $55 million. Alongside his yachts, Dorfman also owns a $60 million jet.

The state-of-the-art vessel was first spotted in summer 2018 in London. It made its first Atlantic crossing in the fall, where it was featured at the Ft. Lauderdale Boat Show.

Read more: Take a look at 11 of the most luxurious yachts coming to the biggest boat show in the US

Elandess sun deck

To accommodate Dorfman, his family, and any additional passengers, the custom-built yacht can house 14 guests across seven cabins. According to Boat International, one of the main requests was for the ship to function as a mobile second home, as opposed to just a mode of transportation. The second home has three decks, and the top features a pool, while interior space allows room for Dorfman's art collection.

As designer Harrison Eidsgaard told Yacht Harbour, "Walking through Elandess, no two spaces feel the same; each area has its own character creating drama and interest at every turn."

Elandess Lounge

Despite the top deck's beautiful view, there's even more to be seen below the water level.

According to Official Bespoke, "There’s little question as to the best view on board, though. Elandess’s sub-waterline Neptune Lounge — only the second in existence — gives spectacular access to life above and below the waterline."

The windows in the lounge measure nearly 10 feet tall and 4 inches thick; like other aspects of the boat, the idea was inspired by the previous Elandess' lounge.

Elandess Dining Room

Just prior to its awards competition, Boat International published an exclusive interview with Dorfman regarding the construction and reception of his new luxury yacht. Dorfman discussed how his family — including his many grandchildren — tested the ship this summer, noting, “You can’t just Google a formula for how to design a yacht for a certain number of people. You have to be involved."

SEE ALSO: The 12 largest superyachts at the 2018 Monaco Yacht Show, ranked

SEE ALSO: I spent 3 years writing about yachts, and owning one takes way more money than you think

Join the conversation about this story »

NOW WATCH: Take a look inside a $28.5 million NYC apartment on Billionaires' Row

Take a look inside the glitzy, 300-foot superyacht involved in the 1MDB scandal that's now on the market at a $120 million discount

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Equanimity Yacht for sale

  • The superyacht Equanimity is up for sale for $130 million — about half its purchase price, Bloomberg reported.
  • The yacht is one of many assets seized in the multibillion-dollar 1MDB scandal and previously belonged to the Malaysian fugitive Low Taek Jho.
  • The 91.5-meter (300-foot) yacht can hold 22 passengers in 11 cabins and has an array of amenities, including a spa and a helipad.

If you have $130 million and are in the market for a superyacht that can fit up to 22 passengers, has a helipad, and boasts a variety of wellness amenities, the superyacht Equanimity may be what you're looking for.

The yacht gained some notoriety last year when it was impounded during the investigation into the 1Malaysia Development Berhad (1MDB) scandal, in which $4.5 billion from the 1MDB fund was misappropriated. It previously belonged to the fugitive Malaysian banker Low Taek Jho, who is believed by US authorities to be the mastermind behind the scandal.

Read more: Take a look inside the 7-cabin superyacht with an underwater lounge that was just named best in class for interior and exterior design

According to Bloomberg, the Malaysian government is spending up to $500,000 per month to maintain the yacht.

The yacht specialist Burgess is the broker for the sale. The company said only one to two yachts of this value sell globally each year and that it takes 12 to 24 months for them to sell. Its $130 million price tag is a significant cut from the $250 million that Low reportedly paid for it.

Burgess CEO Jonathan Beckett said in a company-released Q and A that the yacht has been on the market since the end of October 2018.

Here's a look inside the ultra-luxurious yacht.

SEE ALSO: I spent 3 years writing about yachts, and owning one takes way more money than you think

Equanimity is a 91.5-meter (300-foot) superyacht.

Source: Burgess



The yacht was built in 2014 in the Netherlands and has an exterior design created by Oceanco, a privately owned custom-yacht builder.

Source: Burgess, Oceanco



The boat has a cruising speed of 15 knots and a maximum speed of 18.5 knots.

Source: Burgess



See the rest of the story at Business Insider

From basketball courts to floating helipads, here are the luxury yachts owned by some of the wealthiest people in tech

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richard branson boat

  • Billionaires can afford toys that most people can only dream of: private planes, penthouse apartments, and even entire islands.
  • Some billionaires have taken to purchasing multi-million-dollar yachts, complete with movie theaters and dance floors, that they can use to host family and their other wealthy friends.
  • Here are some of the tech elites who own private yachts.

Some billionaires, like Elon Musk and Bill Gates, buy private planes to take control of the open skies — others purchase yachts to access the open seas.

There aren't too many tech billionaires with yachts. Perhaps it's because while private planes can be used for work-related trips and quick time-saving flights, yachts are generally relegated to play. The yachts of tech billionaires, like Google's Sergey Brin and Larry Page, reflect that view — their boats are decked out with amenities like gyms, spas, pools, nightclubs, and movie theaters.

If you want to find out what life is like aboard these multi-million-dollar yachts, some of them are available to rent out for a few nights or weeks at a time. For instance, chartering the yacht owned by Alphabet President Sergey Brin has cost past customers $773,000 a week.

Here are the yachts owned by tech billionaires:

SEE ALSO: Chocolate for breakfast and freshly killed goat for dinner. Here are the diets of notable tech billionaires.

Oracle cofounder Larry Ellison owns a 288-foot yacht named Musashi that he acquired in 2013.

Source: Forbes



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 music mogul David Geffen for a reported $300 million.

Source: Forbes, Boat International



Ellison's Musashi is a sister ship to the yacht of another billionaire, 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."

Source: Page Six



See the rest of the story at Business Insider

Take a look at the glitzy yacht once owned by Jackie O that's been the scene of huge celebrity parties, has 17 cabins, and can now be rented for $100,000 a day

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CHRISTINA O

  • The 325-foot yacht formerly owned by Greek shipping magnate Aristotle Onassis and former First Lady Jacqueline Kennedy Onassis can now be rented for $100,000 per day, CNN and Robb Report recently reported.
  • The couple frequently hosted famous guests aboard their ship, including Hollywood stars Elizabeth Taylor and Marilyn Monroe.
  • Named the Christina O after Aristotle Onassis' daughter, the ship remains one of the only luxury yachts to accommodate a large number of passengers.

Jackie O's yacht can now be yours for a day — if you have $100,000 to drop on it, that is.

According to recent reports from CNN and Robb Report, interested parties can now rent the Christina O, the legendary superyacht that was formerly owned by millionaire shipping mogul Aristotle Onassis and former First Lady Jaqueline Kennedy Onassis.

With new updates made in 2015 and 2018, Valef Yachts is now chartering the ship for 90,000, ($100,000) per day for the upcoming peak summer months and €80,000 ($90,000) during the low season. Rental also comes with additional fees and deposits for food, fuel, and other amenities.

Read more: Millennial superyacht owners are on the rise — and their preference for experiences over things may be turning yachting into a ride-sharing service

After Onassis' death in 1975, his daughter — whom the yacht is named after — donated the vessel to the Greek government. The vessel, under the name the Argo, remained in government hands until the late 1990s, when a family friend purchased the ship at an auction, restored it to premium condition, and renamed it the Christina O to honor its history.

The Telegraph reported the ship was "once the most exclusive bar in the world," as the rich and famous gathered there by invitation only. Keep reading for a look inside the Christina O from the stateroom lounges to the outdoor Jacuzzi deck.

SEE ALSO: Take a look inside the 7-cabin superyacht with an underwater lounge that was just named best in class for interior and exterior design

NOW READ: Take a look inside the glitzy, 300-foot superyacht involved in the 1MDB scandal that's now on the market at a $120 million discount

Originally a convoy escort called the Stormont, shipping tycoon Aristotle Onassis purchased the yacht in 1954.

Onassis purchased the ship for just $34,000, its scrap value. He then spent $4 million refurbishing the 325-foot vessel and named it the Christina after his daughter.



Until his death in 1975, the Christina served as both Onassis' residence and headquarters.

Onassis made his fortune in the shipping business, eventually owning one of the world's largest fleets. However, the Christina luxury yacht was considered his flagship vessel, as it served as both his office headquarters and as his "floating mansion."



Both Aristotle and Jackie frequently used the ship to entertain an impressive list of guests.

Aristotle and Jackie Onassis married in 1968, a wedding that shocked many fans still mourning the assassination of President John F. Kennedy. 



See the rest of the story at Business Insider

Calling all yacht crew: Tell us what life is really like working on board a yacht, from the good to the bad to the downright wild

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Yacht docked

Yacht crew: Business Insider wants to hear from you!

We're looking to take a deep dive into the world of yachting, and no one knows it better than the people who make it go 'round.

To outsiders, yachting sounds like the most glamorous job — cruising the seas in million- and billion-dollar behemoths and visiting parts of the world you wouldn't see otherwise. And to fans of Below Deck, yachting life looks like it's full of drama and partying.

But is there more to working on a yacht than meets the eye? From back-to-back charters and outlandish guest demands to daily cleaning and late nights, life on board seems a little more grueling and hard-working than some may think. What does society get wrong — and right — about life on board? 

We want to know the best and worst parts of your job as well as those in between. What does a typical day look like for you?

Share your thoughts with us in our brief survey here. Don't worry, you can stay anonymous — just check off the option at the end of the form.

So tell us — what is life really like working on a yacht?

 

SEE ALSO: I spent 3 years writing about yachts, and owning one takes way more money than you think

DON'T MISS: The 12 largest superyachts at the 2018 Monaco Yacht Show, ranked

Join the conversation about this story »

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The 10 countries with the most superyachts in the world: RANKED

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capri italy

When you think of the world's top yachting destinations, the Mediterranean coastline and the Caribbean islands probably come to mind.

But what about the Netherlands, or the United Arab Emirates?

Bloomberg just ranked the top 10 countries in the world with the most superyachts on their coastlines, and a few countries on the list might surprise you.

The US came in first place, with 158 superyachts counted in April 2019, followed by Italy, Spain, France, and Greece rounding out the top five. 

Read more: Calling all yacht crew: Tell us what life is really like working on board a yacht, from the good to the bad to the downright wild

France saw the largest increase in the number of yachts as compared to last year, with 29 more yachts spotted off its coast in April 2019 than in April 2018.

The US and Australia, on the other hand, both saw a decrease in their number of yachts.

Bloomberg noted that the April 2019 count includes all yachts reported within two miles of the country's coastline between April 15 and April 18, 2019. The April 2018 count is based on April 9 through April 13 data. The median yacht length in the study was 160 feet. 

While there is no official definition of what makes a yacht a superyacht, the industry generally considers it to be a yacht that's longer than 79 feet and that requires a professional crew.

Here are the 10 countries with the most superyachts in the world.

SEE ALSO: Take a look inside the glitzy, 300-foot superyacht involved in the 1MDB scandal that Malaysia just sold at a $124 million discount

DON'T MISS: From basketball courts to floating helipads, here are the luxury yachts owned by some of the wealthiest people in tech

10. The Netherlands

Number of yachts in April 2019: 18

Number of yachts in April 2018: 10

 



9. Australia

Number of yachts in April 2019: 19

Number of yachts in April 2018: 26



8. United Arab Emirates

Number of yachts in April 2019:  22

Number of yachts in April 2018: 21



See the rest of the story at Business Insider

What do you do when already own 5 vacation homes? Buy a custom-built superyacht.

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superyacht

Forget Saint-Jean-Cap-Ferrat in the French Riviera or Kauai island in Hawaii— the best kind of vacation home floats on the sea.

At least, it may be for billionaires who already own other vacation homes on land. Arthur Brouwer, CEO of superyacht builder Heesen Yachts, recently told Shivani Vora of The New York Times that most of Heesen's clients consider their superyachts their fifth or sixth vacation home. 

These clients are typically from the US, Europe, or the Middle East, he said. They either buy custom-built superyachts or pre-build yachts — yachts built "on spec," Brouwer added. And while some live on their yacht for 30 weeks out of the year, others use their yacht only a few weeks out of the year. 

Generally, yachts over 100 feet cost $1 million per 3.3 feet, according to Forbes. Heesen's yachts sell for anywhere from $39 million to over $112 million, reported Vora, but superyachts can easily exceed $1 billion.

Read more: I spent 3 years writing about yachts, and owning one takes way more money than you think

But that's just the beginning of the costs involved in owning a superyacht — owners can expect to spend about 10% of the purchase price annually on operating and maintaining a yacht. That's $1 million a year for a $10 million superyacht, although the exact maintenance costs vary.

Maintenance is just one of the big four costs involved in owning a superyacht, along with fuel, dockage, and yacht crew to run the yacht.

The bigger the boat, the more crew — and salaries — you need. A 130-foot boat with five crew members can cost $32,500 a month. Deckhands, at the bottom of the totem pole, earn an average of $3,083 to $3,574 a month, depending on the boat size. Captains get paid more, earning an average of $7,750 to $19,961 a month.

Dockage can cost as much as $350,000 annually, and fuel as much as $400,000 annually, including fuel for toys like Jet Skis.

SEE ALSO: Millennial superyacht owners are on the rise — and their preference for experiences over things may be turning yachting into a ride-sharing service

DON'T MISS: What a $1 million vacation looks like in Mykonos, Greece, where you'll fly in on a private jet, sleep in an ocean-view villa, and cruise the seas in a yacht

Join the conversation about this story »

NOW WATCH: How $100,000 custom pool tables are made for celebrities like Justin Bieber and Taylor Swift

Cristiano Ronaldo shared photos of the lavish vacation he's currently having on board a superyacht that costs over $200,000 a week

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cristiano ronaldo yacht

  • Cristiano Ronaldo is currently vacationing in luxury.
  • The soccer superstar is with his girlfriend and children on board an epic superyacht, traveling along the French Riviera.
  • The yacht costs over $200,000 a week to rent and features a gym, hot tub, and inflatable waterslide into the sea.
  • Ronaldo has been posting pictures from the lavish holiday on Instagram.
  • Visit INSIDER's homepage for more stories.

Cristiano Ronaldo is living his best life. 

The footballer is currently on vacation with his family on board a wildly luxurious superyacht in the French Riviera.

The epic yacht costs $221,500 per week to rent in the low season, which goes up to $245,000 in the high season.

Enjoy the view 🧜🏼‍♂️😉👌🏻

A post shared by Cristiano Ronaldo (@cristiano) on Jun 20, 2019 at 9:01am PDT on

 

Judging by the photos Ronaldo has been posting on Instagram, he's certainly enjoying his stay.

The 47-meter (that's around 154 feet) charter yacht, named Africa, has its own hot tub, gym, and bar.

Holidays with my family in France Riviera Enjoy the views 😀❤️👌🏻☀️⛴

A post shared by Cristiano Ronaldo (@cristiano) on Jun 23, 2019 at 5:10am PDT on

 

But perhaps the coolest part of the yacht is that it has its own giant inflatable waterslide into the sea.

It sleeps up to 12 guests. Ronaldo appears to be traveling with his girlfriend Georgina Rodriguez and children for company.

Amore mio 💏😘

A post shared by Cristiano Ronaldo (@cristiano) on Jun 23, 2019 at 11:51am PDT on

 

The yacht's interior has sleek wood surfaces and blue furnishings.

Before cruising past Monaco, St Tropez, and Nice, the family traveled to the yacht in similarly luxurious style: by helicopter.

let's go 🚁 👪❤️

A post shared by Cristiano Ronaldo (@cristiano) on Jun 19, 2019 at 3:09am PDT on

Oh, and before that? A private jet trip to kick-start their vacation.

💖✈️ ¡Buen día con amor!

A post shared by Georgina Rodríguez (@georginagio) on Jun 12, 2019 at 3:29am PDT on

The Juventus player has four children, the youngest of whom, 1-year-old Alana Martina, is from his relationship with Rodriguez, 25.

Read more:Cristiano Ronaldo: How the biggest sports star on the planet makes and spends his millions

Ronaldo, 34, has three older children: 8-year-old Cristiano Jr (whose mother is unknown) and 2-year-old twins Eva and Mateo, who were born to a surrogate mother.

Former shop assistant Rodriguez met Ronaldo in the Gucci store where she worked, according to an interview she gave with Italian Elle, before they bumped into each other at a different brand's event a few days later where they were able to get to know each other in a more relaxed way.

Join the conversation about this story »

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Jeff Bezos partied on billionaire David Geffen's $590 million superyacht in the Balearics — here's a look at the yacht, which has hosted everyone from Oprah Winfrey to Barack Obama

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rising sun yacht

Spotted: Amazon CEO Jeff Bezos in the Balearics, Spain, this week, aboard the entertainment mogul David Geffen's superyacht, Rising Sun.

In a photo posted to Geffen's Instagram, Bezos was seen with his girlfriend, Lauren Sanchez; the supermodel Karlie Kloss; and former Goldman Sachs CEO Lloyd Blankfein. Bezos already made waves this month when reports surfaced that he owned a $400 million superyacht anchored near Datca, Turkey. However, Amazon denied these reports in a statement to Business Insider.

Read more: Jeff Bezos and Lauren Sanchez partied with Lloyd Blankfein and model Karlie Kloss aboard billionaire David Geffen's superyacht

But Bezos and crew aren't the first to cruise the high seas with Geffen, who appears to love hosting celebrities, musicians, and actors. Leonardo DiCaprio, Bradley Cooper, Oprah Winfrey, and Barack and Michelle Obama have also enjoyed Geffen's 400-foot-plus superyacht in the past. 

Here's a look at Rising Sun — and the big names that have been on board.

SEE ALSO: A look inside Datça, the popular tourist destination in Turkey where the $400 million yacht rumored to be owned by Jeff Bezos was spotted

DON'T MISS: I spent 3 years writing about yachts, and owning one takes way more money than you think

The entertainment mogul David Geffen, founder of DreamWorks, SKG, Asylum Records, Geffen Records, and DGS Records, owns Rising Sun. According to Forbes, he's worth $8.2 billion.

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Source: Forbes



The 454-foot megayacht was originally built for Oracle founder Larry Ellison. Geffen bought a half-share in 2007 and the other half in 2010, totaling $590 million.

Source: Forbes



The exact value of the superyacht is unclear. However, one recent estimate put its value at $300 million.

Source: Yacht Harbour



Rising Sun was constructed by the German shipbuilder Lurssen. Once Geffen became owner, he had the yacht refitted over a six-month period.

Source: Boat International



The yacht can accommodate 18 guests and a staff of 55 people. It even has a basketball court.

Source: Forbes



The top deck is dedicated entirely to the owner and includes a double-height cinema.

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Source: Boat International



Geffen has cruised everywhere from St. Bart's and the Tobago Cays in the Caribbean to Portofino, Italy, and Ibiza, Spain, according to his Instagram — but not without a few friends.

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Rising Sun is a great place for entertaining. Scroll through Geffen's Instagram feed, and you'll find that he's hosted many a celebrity guest on board.

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Most recently, Amazon CEO Jeff Bezos, the investment banker Lloyd Blankfein, and the model Karlie Kloss were spotted aboard in the Balearics in Spain.

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Source: Business Insider



And Orlando Bloom was on board just last month.

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Source: Business Insider



Oprah Winfrey, Bradley Cooper, and Tom Hanks have also joined Geffen to cruise the high seas.

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Geffen has also hosted Chris Rock ...

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... and Bruce Springsteen.

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That's not to mention Mariah Carey ...

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... and Leonardo DiCaprio.

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But Geffen doesn't just invite actors, musicians, and models. In 2017, Barack and Michelle Obama were spotted on board while the yacht was in French Polynesia.

Source: Business Insider



Geffen knows how to party with the rich and famous — and in style.

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While the combined $590 million that Geffen spent to buy Rising Sun is an astronomical figure, it pales in comparison to the world's most expensive yacht. That title goes to the Russian billionaire Roman Abramovich's yacht Eclipse, which is estimated to be worth anywhere from $600 million to $1.5 billion.

Source: Business Insider



A luxury superyacht with 15 people onboard burst into flames off the coast of Spain and sank to the seabed

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yacht on fire

  • A superyacht caught fire off the coast of Mallorca in Spain on Saturday.
  • Video footage shows the luxury vessel engulfed in flames with black smoke billowing into the sky.
  • All 15 people on board escaped uninjured, the Majorca Daily Bulletin reported.
  • Although the fire was extinguished, the flames reignited when the yacht was being towed to Palma and subsequently sunk, the Spanish news site reported.
  • Visit Insider's homepage for more stories.

A luxury yacht caught fire off the coast of Mallorca in Spain, and the dramatic scene was captured on camera by various people.

Video footage shows the D'Angleterre superyacht engulfed by flames off the coast of Es Trenc beach on the Spanish island.

Thick plumes of dark smoke billowed from the vessel as it sat atop the bright blue sea.

The incident broke out on Saturday at around 3 p.m. according to the Mirror, but all 15 people (nine passengers, a captain, and five crew) onboard escaped uninjured, the Majorca Daily Bulletin reported.

According to Boat International, D'Angleterre was a charter yacht that slept up to 12 people.

The captain and two crew members didn't leave the 33-meter yacht until around 5.30 p.m., the Mirror reported. According to Maritime and Crimean shipping news site Maritime Bulletin, the skipper stayed on board to help fight the fire.

 

All 15 people were rescued by two salvage vessels, Salvamar Acrux and Illes Pitüses, which together managed to extinguish the fire, according to Majorca Daily Bulletin.

A small firefighting plane deployed by the Balearic Institute of Nature (Ibanat) of the Balearic Government reportedly helped put the fire out as well.

Read more:7 dead, including 2 children, after a plane collided with a helicopter midair over the popular Spanish tourist island of Mallorca

It's still unclear how the fire started, and it ended up not being entirely extinguished.

According to Majorca Daily Bulletin, when the yacht was being towed to Palma, the flames reignited and the vessel subsequently sunk to a depth of more than 50 meters to the seabed about five miles south of Cabo Blanco.

The news site reports that Salvamento Marítimo (the sea search and rescue agency) confirmed that it had managed to salvage one of the fuel tanks that had ended up floating in the sea, and there had been no oil spill.

Join the conversation about this story »

NOW WATCH: Nxivm leader Keith Raniere has been convicted. Here's what happened inside his sex-slave ring that recruited actresses and two billionaire heiresses.

A sleek black yacht that just launched is now the world's largest superyacht. Take a look at the 600-foot vessel owned by a Norwegian billionaire.

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  • The world's largest superyacht, a 600-foot vessel owned by a Norwegian billionaire, just launched in Romania.
  • The REV Ocean was designed to carry out scientific research expeditions with the goal of safeguarding the oceans.
  • It will also be available to charter to help support the costs of the scientific research missions.
  • A publicist for the REV Ocean said the vessel's billionaire owner, Kjell Inge Rokke, would also use the yacht but pay to rent it like any other customer.
  • The REV Ocean dethroned the 590-foot Azzam, which held the record of largest yacht in the world for six years.
  • Visit Business Insider's homepage for more stories.

The world's largest superyacht, a 600-foot vessel owned by a Norwegian billionaire, just launched in Romania.

The REV Ocean dethroned the 590-foot Azzam, which held the record for largest yacht in the world for six years.

Unlike most superyachts, the REV Ocean wasn't designed only for luxury cruising. It was built to be a research vessel, carrying out scientific expeditions with the mission of safeguarding the world's oceans.

The yacht will, however, be available to charter to help support the cost of its scientific missions, a publicist for the REV Ocean told Business Insider.

The REV Ocean, which is on its way to Norway to be outfitted, is set to be completed in 2020.

Take a look at the record-breaking 600-foot superyacht.

SEE ALSO: The 10 countries with the most superyachts in the world: RANKED

DON'T MISS: Jeff Bezos partied on billionaire David Geffen's $590 million superyacht in the Balearics — here's a look at the yacht, which has hosted everyone from Oprah Winfrey to Barack Obama

At 600 feet (182.9 meters) long, the REV Ocean is the world's largest superyacht.

It dethroned the 590-foot Azzam, which held the record for more than six years.



After 18 months of construction, the vessel was lowered into the water at the Vard Tulcea shipyard in Romania on August 24.

The REV Ocean was commissioned by the billionaire Norwegian businessman Kjell Inge Rokke.



Rokke is worth an estimated $3.3 billion.

He owns almost 67% of Aker, a publicly traded shipping and offshore drilling conglomerate, according to Forbes.

Rokke also started and funds a nonprofit foundation, also called REV Ocean, that's dedicated to safeguarding and preserving the oceans.

The Norwegian businessman is one of more than 200 wealthy people who have signed the Giving Pledge, promising to give away at least half of their fortune to charity.



The REV Ocean had "an extensive and complicated build period," according to the foundation.

The yacht was designed by Espen Oeino, who has designed some of the world's most famous yachts, including the late Microsoft cofounder Paul Allen's 414-foot Octopus.



The REV Ocean was built to be a scientific vessel in addition to a cruising yacht. REV stands for Research Expedition Vessel.

According to the REV Ocean foundation, scientists can use the superyacht for research into plastic pollution, unsustainable fishing, and the impact of CO2 emissions on the ocean.

"REV Ocean will strive to fill critical knowledge gaps, develop innovative solutions, and bridge science, business and policy sectors to achieve positive change," the foundation said.



The REV Ocean will be able to hold 55 scientists and 35 crew members, the foundation says.

The vessel's onboard equipment will include "scientific trawls, sonar systems, laboratories, auditorium and classrooms, moonpool, AUV and submarine, an ROV with 6000 meters depth capacity, and advanced communication equipment."



The superyacht will also be available to charter to help fund its scientific missions.

Rokke will also use the yacht, but he'll pay to rent it like any other customer, said REV Ocean's communication manager, Lawrence Hislop.

"The primary focus, branding, and emphasis, however, is on science," Hislop told Business Insider.



As a charter vessel, the REV Ocean could carry 28 guests and 54 crew members.

According to its website, the superyacht will be available for "private individuals, companies and institutions seeking to improve their awareness of the ocean."

The price hasn't been finalized, but REV Ocean is negotiating a contract with a yacht-chartering company, Hislop told Business Insider.



Next, the ship will go to Norway to be fully outfitted.

In the coming weeks, the REV Ocean will be towed down the Danube River and into the Black Sea, then pass through the Bosporus Strait in Istanbul, cross the Mediterranean, traverse the Strait of Gibraltar, and travel up to the Vard shipyard in Brattvag, the foundation said.

The journey is expected to take 30 to 35 days.



The vessel is set to be completed sometime in 2020.

Source: REV Ocean



I spent 3 years writing about yachts, and owning one takes even more money than you think

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eclipse superyacht

  • A yacht costs a lot more than the price its owner paid to buy it.
  • There are additional expenses — for things like yacht crew, dockage, fuel, and maintenance — that many people don't think about.
  • Many yacht crew members say they wouldn't own a superyacht even if they could afford one, because they're so much money and work.
  • Visit Business Insider's homepage for more stories.

If there's one thing I took away from spending three years writing for the yachting industry and attending the Monaco Yacht Show, it's that buying a superyacht is the absolute pinnacle of indulgence for the 1%.

You see, these behemoths of the sea cost a lot more than the price tag they come with, thanks to the upkeep they require — it's a series of neverending expenses. There's what I like to call the Big Four that will easily wear down an owner's black AmEx: yacht crew, dockage, fuel, and maintenance, among a host of other eye-popping costs.

Just ask the crew who work on yachts.

I once spent a day running up and down the docks at the Fort Lauderdale International Boat Show asking crew one question: Would you buy a boat if you were rich? The answer, overwhelmingly, was no. Those that said yes were new to the industry — my guess is that they just didn't know any better yet.

Because, really, yachts are just floating money.

Here's how much it actually costs to own a superyacht, which is generally defined as a boat at least 80 feet in length.

SEE ALSO: A look inside Datça, the popular tourist destination in Turkey where the $400 million yacht rumored to be owned by Jeff Bezos was spotted

DON'T MISS: 28 photos show how the 1% live it up at the Monaco Yacht Show, from cruising in on helicopters to partying aboard multi-million dollar yachts

Generally, yachts over 100 feet cost $1 million per 3.3 feet — and that's not counting costs for upkeep.

Source: Forbes



Some older yacht models around 80 feet may sell for six figures, but a superyacht will most likely set you back by at least a few million. An 84-foot yacht built in 2002 and refit in 2015, for example, can cost $1.45 million, while a 270-foot yacht built in 2013 can cost $132 million.

Source: Fraser Yachts, Burgess



But that's just the beginning — owners can expect to spend about 10% of the purchase price annually on operating and maintaining a yacht. That's $1 million a year for a $10 million superyacht, although it varies.

Source: Business Insider



The bigger the boat, the more crew — and salaries — you need. A 130-foot boat with five crew members can cost $32,500 a month. Deckhands earn an average of $3,083 to $3,574 a month, depending on the boat size. Captains get paid more, earning an average of $7,750 to $19,961 a month.

SourceFreedom Yacht Services, Dockwalk



Yachts in Florida's Broward County, a hub for for yachting, account for $3 billion yearly in wages and earnings, reported Kate Lardy of the Sun Sentinel in October 2017, citing a 2014 survey by the Marine Industries Association of South Florida. That's not counting yachts based internationally.

Source: The Sun Sentinel



And don't forget payment for dayworkers, who are hired temporarily for onboard services. A captain of a 178-foot yacht told Lardy he spent $14,255 on dayworkers during the yacht's two-month visit in Fort Lauderdale.

Source: The Sun Sentinel



There are also other crew costs, like medical and liability insurance, training, and uniforms, the latter of which the captain told Lardy he spent $11,190 on over two months.

Source: The Sun Sentinel



In the two-month span, the captain also spent $50,000 on provisioning for the upcoming charter season, including bounty for the yacht's wine cellar.

Source: The Sun Sentinel



When owners aren't busy yachting in the Maldives or cruising to the Seychelles, they need a place to dock the boat — and fuel to get there. The captain also told Lardy he spent more than $100,000 on fuel and dockage during the two-month visit.

Source: The Sun Sentinel



Fuel and docking can get even more expensive during an event like the Monaco Grand Prix.

SourceBusiness Insider



Fuel can cost roughly $400,000 a year — and that's not just for the boat, but the toys that go along with it, like Jet Skis.

Source: Florida Yacht Management



Dockage varies on how big the boat is and how desirable the marina is. An 80-foot boat can run $1,200 a month, while a bigger boat in a more coveted slip can cost as much as $6,000 monthly. A superyacht owner can expect to spend $350,000 on dockage a year.

SourceFreedom Yacht Services, Florida Yacht Management



Like many things, yachts get wear and tear — they require regular maintenance and repairs. Routine maintenance can cost roughly 2% of the boat value after the yacht's first year, and around 7.5% of the boat's value when the yacht is 10 years old.

Source: Freedom Yacht Services



The captain of the 178-foot yacht takes the yacht to Fort Lauderdale twice a year, where it always gets work done. In the two-month period, he spent $142,746 on repair and maintenance, which he told Lardy is "typical."

Source: The Sun Sentinel



And regular maintenance doesn't include the cost for periodic refits. One owner told Superyacht News he refitted his 98-foot yacht for more than $1.1 million.

Source: Superyacht News



There's also insurance, which can cost roughly $240,000 a year, according to a report by Towergate Insurance.

SourceTowergate Insurance



And don't forget miscellaneous expenses, such as communications (like navigation and Satellite TV) and administration (mail and office supplies, to name a few). The captain told Lardy he spent more than $6,000 on admin costs during the two-month stay.

Source: The Sun Sentinel



Overall, he spent $643,164 during his stay in Florida. That's nothing compared to the $1.5 million he anticipated to spend for the yacht's next stay in Fort Lauderdale, during which the yacht would undergo a condition inspection.

Source: The Sun Sentinel



All of this doesn't count the cost of fun — superyacht owners love to throw soirees, especially during events and boat shows. During the Cannes Film Festival, Paul Allen traditionally throws a party on his yacht, Octopus, complete with guests like Kate Moss and Jake Gyllenhaal.

Source: Boat International Media



With superyacht parties, you can usually count on costs for food (or hiring a celebrity chef), alcohol, a DJ, and décor.

Source: Boat International Media



Owners can recoup some of these expenses by chartering their yacht. A 205-foot yacht with a $3.5 million annual operating budget can charge $425,000 a week. The price can vary on season and yacht size and includes costs for food and drink, fuel, harbor fees and dockage, and delivery fees.

Source: Forbes, Boat International



9 superyacht crew members share what it's really like working for a billionaire on board

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Working on a superyacht sounds glamorous, but it can be anything but.

Business Insider recently polled superyacht crew members to get an inside look at life on board. When asked what working for a millionaire or billionaire is really like, they agreed on a few things, like long hours.

Many superyacht crew members wake up before dawn to start their day, which typically involves a lot of cleaning and catering to the requests of owners and guests.

Read more:I spent 3 years writing about yachts, and owning one takes way more money than you think

But while some superyacht owners are demanding, others are less so — it really all depends on their personality. Some crew members said that owners and guests are more like regular people than you'd expect.

Here's what life on board looks like, according to nine superyacht crew members.

Note: Business Insider was able to verify each crew member's identity, but we refrained from publishing their full names to protect their privacy.

SEE ALSO: A look inside Datça, the popular tourist destination in Turkey where the $400 million yacht rumored to be owned by Jeff Bezos was spotted

DON'T MISS: 28 photos show how the 1% live it up at the Monaco Yacht Show, from cruising in on helicopters to partying aboard multi-million dollar yachts

Working on a yacht is tiring and demanding.

One captain who works on a 120-foot boat alluded to tiring conditions. Working for a billionaire is "demanding," he said, with hours that begin very early — before 6 a.m. — and end very late.



Yacht crew members have to meet high expectations.

One electronic technical officer who works on a 223-foot yacht stressed the pressure of delivering top-notch service while remaining level-headed.

Working on a yacht involves "very, very long days with little rest and expectations to perform at the highest levels of service while not losing your cool under pressure," he said.



They have to work hard to keep yachts spotless.

Guests and owners can be messy and dirty — and it's up to the crew to make sure it doesn't look that way. A mate on a 92-foot yacht said he had to wake up before guests or other crew members to get the yacht's exterior ready for the day.

"They expect it to look like no one has touched it," he said. "So any rain or dew, water spots, bird crap, or salt spray has to be continuously cleaned, not to mention having to constantly wipe stainless [steel] and glass when guests move around the boat. They leave smudges and fingerprints everywhere.

"By the time I start at the top of the boat and move around drying the boat, washing windows, and prepping water toys, depending on where the guests are, it's time to clean behind them."

He said he then has to be available for whatever the day brings, whether guests want to take the tender out or play with water toys, the interior crew needs help with service, or any maintenance issues need to be addressed.



There's a lot of cleaning, smiling, and snacking.

Nic, a chief stewardess, shared her typical daily itinerary, which extends from 6 a.m. to 11 p.m., with a one-hour break for a power nap.

There's constant snacking, as she doesn't always have time to sit and eat, she said. She's also "always thinking and planning ahead for the next meal or excursion," like what guests "need to take with them and what they need upon return," she said.

"Always thinking of ways to make the day special and 'perfect' (as much as possible)," she said.

She added: "Cleaning, cleaning, cleaning, and lots of smiling. Behind the scenes, a lot of running around and working at high speed, throwing stuff into drawers and sorting it out later when you have time, laughing and keeping crew spirits high. Never-ending laundry."



Work is easier when the owners are away, which is often.

Billionaire owners actually don't spend a lot of time on their multimillion-dollar yachts. Neither do the guests who charter them.

"Owners or guests are typically not on the boat all that much, so most of the time the crew has the boat to themselves," said Michael, a former yacht captain who worked on yachts ranging from 130 to 170 feet.

"Work is pretty easy and consists of general maintenance and keeping the boat in perfect/ready state for when the owner does show up. If you have a good crew it can be very enjoyable. If you do not, it can be very stressful and miserable."



Everything depends on the owner's personality.

Some crew members get lucky working for generous yacht owners, while others get treated like the help.

"It's hard work and long days when they are on board," said Martin, the captain of a 155-foot yacht. "It really depends on the owner. Some have treated me like family, and some have treated me like a servant."



But sometimes it's not the owner who's difficult.

A chef on a 150-foot motor yacht also said that working for a billionaire could be unpredictable, as every boat and owner is different.

But it's not the owner of the yacht who's always difficult to work for.

"Bear in mind that the captain is every bit as much your boss as the owner is, and sometimes the captain is a bigger pain in the ass than the billionaire owner," she said.



Yacht owners are just your everyday people on vacation — with more money.

According to Mark, the captain of a 114-foot yacht, billionaire owners are just like normal vacationers. Kind of.

"They're just people holidaying, but with more money and toys to fill their days," he said.



They can be more down-to-earth than expected, but their spontaneity can be frustrating.

"It's really nice to find out that some of the wealthiest people you'll work for are actually more down-to-earth and normal like any person you'd meet on the street," a stewardess on a 112-foot sailing yacht said. "The saying is 'money screams, wealth whispers.'"

She added: "A typical day involves turning heads, beds, and laundry for guests and crew, which can be a lot if you're a department of one. Food and beverage service three times a day. A lot of plans and schedules change on the fly depending on the owners and their wants and whims, which can be a bit frustrating."




8 superyacht crew members share the most extreme requests they've had to deal with on the job

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Working on a superyacht is grueling. 

There are long hours, lots of cleaning, and demanding guests and owners.

Business Insider recently polled superyacht crew members to get an inside look at life on board. When asked for the strangest request they've ever received from a guest or owner, some didn't have much to say. As one electronic technical officer on a 223-foot yacht put it, "Guests can be really boring."

But others had several stories to share.

Read more: 9 superyacht crew members share what it's really like working for a billionaire on board

When people are paying millions to run the yacht or hundreds of thousands to charter it out for a week, they expect to get their money's worth — and everything they want.

That leaves many superyacht crew members running around trying to meet the highest expectations. From the funny to the ridiculous to the tedious, here are some of the strangest requests they've received on the job.

Note: Business Insider was able to verify each crew member's identity, but we refrained from publishing their full names to protect their privacy.

SEE ALSO: A look inside Datça, the popular tourist destination in Turkey where the $400 million yacht rumored to be owned by Jeff Bezos was spotted

DON'T MISS: I spent 3 years writing about yachts, and owning one takes even more money than you think

Some owners are really dedicated to the sports teams they own.

Michael, a former yacht captain who worked on yachts ranging from 130 to 170 feet, recalled a time when a superyacht owner wanted to watch the NBA basketball team he owned play in the semifinals or finals. At the time, the yacht was anchored near a reef off of eastern Honduras, where there was terrible satellite coverage, he said.

"He also owned a small network that broadcast the game and paid to have the satellite footprint moved to cover our area which was tens of thousands of dollars," he said. "Still did not get the game. The only image that came across of the game was his mother (who loved the team) sitting next to Stevie Wonder."



And beach toys are very important — even if it means getting them in the middle of the night.

Water time isn't complete without some good floats. At least, that is, for some of the guests that chief stewardess Nic has had on board.

At 8 p.m., her guests requested inflatable crocodile and baby water floats — and they wanted them for the next morning. "One hire car and six hours later, we arrived back at the boat with the items," she said.



Sometimes yachts aren't the only trips involved.

Just like the average Joe, superyacht owners can be forgetful. But unlike the average Joe, they always have a way of getting what they need — no matter where they are.

Mark, the captain of a 114-foot yacht, said his superyacht owner once needed a crew member to fly 4,000 miles round trip in 34 hours via business class to pick up a small bag of clothes for the boss' wife.



But some requests can be more mind-blowingly tedious than anything else.

Some requests aren't even extravagant, but tedious and meticulous. A stewardess on a 112-foot sailing yacht told Business Insider that she was once asked to pick out all the broken candies in the candy bowls.



Guests make sure they can get anywhere they want.

One crew member was working on a motor yacht anchored in Greece, and a guest wondered why they weren't playing golf; the crew member told him the nearest course was three hours away.

"Without hesitation, he asked, 'Was there no helicopter available?'" the crew member said. "I was a bit taken back and let him know I hadn't considered that option. He politely let me know he would be happy to pay for one if the situation arises in the future. Sure enough, several residents took the option for private airlift via helicopter or jet to play a round of golf."

He said they've also stopped the yacht for a guest to play his guitar on an iceberg while cruising the Arctic. 



Chefs are expected to work around the clock — even if they're sleeping.

Yacht chefs can deal with especially demanding requests — they're always at the whim of someone else's appetite and cravings.

After being in bed for 2 1/2 hours, one chef on a 150-foot motor yacht said he was asked to whip up a small-plate buffet — at 3 a.m.



Some crew members are asked to keep quiet and get dirty.

One crew member who has worked on yachts ranging from 100 to 130 feet as both a mate and a junior engineer has seen it all.

"On the deck side, [the most extreme request has] been to purposely keep my eyes down and not address the topless prostitutes on board," he said. "On the engineering side, it's been to get in murky canal water to dig the ocean floor deeper and scrub the bottom of the boat."



And some guests get very thirsty.

A second stewardess who works on a 200-foot yacht said an owner once asked if they could fly Fanta (the soda) to an island in the middle of nowhere.



9 things superyacht crew members wish they could tell their billionaire guests — but won't

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Crew member

  • It takes a lot of effort to keep superyachts in top-notch shape — but not all owners and guests realize that.
  • Business Insider recently asked superyacht crew members what they won't tell their guests.
  • From serving their guests bottom-shelf liquor and pretending it's top-shelf to eating their food, here's what they had to say.
  • Visit Business Insider's homepage for more stories.

If only billionaires and millionaires knew what went on behind the scenes on their superyachts.

Business Insider recently polled superyacht crew members to get an inside look at life on board. We asked them what they wished they could tell their guests or owners but won't — and they had a lot to say.

Turns out, superyacht guests and owners have no idea about the amount of work, time, and energy that it takes to run a yacht, according to the crew.

Read more:8 superyacht crew members share the most extreme requests they've had to deal with on the job

Here's what superyacht crew members won't tell you.

Note: Business Insider was able to verify each crew member's identity, but we refrained from publishing their full names to protect their privacy.

SEE ALSO: 9 superyacht crew members share what it's really like working for a billionaire on board

DON'T MISS: A look inside Datça, the popular tourist destination in Turkey where the $400 million yacht rumored to be owned by Jeff Bezos was spotted

Living in tight quarters can be tough.

Crew cabins barely have room to move — and are made for two.

"It is not necessarily easy living and working in close quarters on a yacht with 10-plus crew members," said Michael, a former yacht captain who worked on yachts ranging from 130 to 170 feet. "Our cabins are a quarter the size of yours, and we typically share them with another crew member."

He added that most people join yachting "for a short time, and it is a great opportunity to travel and save money in your younger years."



There's so much more work involved than you think.

"Everything has a process — just simply moving the boat has a day's worth of work attached to it," a mate on a 92-foot yacht said. "Every time you use the toys for five minutes, it takes hours to set it up, monitor your use, then clean and pack it away."

He added: "Also, there should be room in the schedule to comfortably move the boat between seasons, complete projects and repairs, and let the crew have time off. Just because you aren't on your boat doesn't mean we get to take advantage of whatever exotic place you have us."



And there's never enough time or people to do it.

On yachts, it seems as if there are never enough hours in the day or hands available.

"Upkeep requires more time and people than is normally available," said Mark, the captain of a 114-foot yacht.



They love it when you ask for the world.

Superyacht guests and owners have been known to make an extreme request or two, like taking last-minute helicopter trips or flying in soda to a remote island.

But while guests can be demanding, crew members get the last laugh when they can pull it off.

"We secretly enjoy when the guests make a ridiculous request because we'll actually try and accommodate it, just to prove we can," an electronic technical officer who works on a 223-foot yacht said.



They eat your food.

Every yacht has a chef on board to whip up extravagant meals for the owner or guests — and crew members said they take advantage of it when they can.

"We eat their very expensive cheeseboard leftovers and drink the very expensive Champagne and wine left in the bottles," said Martin, the captain of a 155-foot yacht.



They see right through you.

Some superyacht owners are down-to-earth and great bosses, some of the crew members surveyed said. Others, not so much — and it makes some crew members feel unappreciated.

The crew sees "how cheap and not classy" guests are, said a crew member who has worked as both a mate and a junior engineer on yachts ranging from 100 to 130 feet.

"Yacht crew works their tails off. A little more in salary or tip goes a long way," the crew member said.

They added: "Caring about the crew as people and their basic needs makes crew respect owners more. And sometimes the boat budget is so tight that you can't obtain things for the vessel that would improve the look or performance of it."



While you're having fun and relaxing, crew members are working their tails off.

Many superyacht guests think crew members get a break when they, the guests, go ashore, but that's not the case.

"When they leave the boat to go to a beach and say 'enjoy your rest' ... as soon as they leave, we vacuum the whole boat, pull things apart to clean, polish everything for lunch/dinner, prepare for them returning, fold refreshing towels, fill fridges, make cocktails for their return, load towels baskets, clean their cabins ... Then they return and say, 'Did you have a nice rest?' Oh, yes, thank you very much," said Nic, a chief stewardess.



They're not above using a white lie or two.

A stewardess on a 112-foot sailing yacht said there were a lot of things she'd like to tell guests — like that it's hard to accomplish everything, so a lot of the job is "fake it till you make it."

"Sometimes if you don't have a certain thing, you have to fake it with something else," she said. "For example, a certain brand liquor that you can get away with convincing them that a bottom-shelf thing is the real deal."

She continued: "It's pretty easy to convince people with smoke and mirrors. A lot of times you also have to pretend there aren't problems when in fact there are major problems."

For example, she said, "things break on boats all the time." There have been a few times when an engineering problem prevented the yacht from leaving an anchorage, so the crew lied to the guests and told them there was inclement weather where they wanted to go and that's why they couldn't leave.

"It's all in how you sell the lie," she added.



The long hours take a toll.

Working on a yacht never stops.

"This is now my 38th 17-hour day in a row, and I want to run away," said a chef on a 150-foot motor yacht.



A hair extension company wrapped a $20 million superyacht in gold — here's how they pulled off the lavish transformation

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bellami gold wrapped superyacht

  • A 180-foot superyacht was wrapped in flashy gold chrome as part of an advertising strategy for Bellami, a hair extension company, this summer.
  • Requiring nearly 6,500 square feet of wrapping, it was the largest chrome wrap job in the world, according to the company that completed the project, LuxWrap.
  • Take a look at the process of transforming a $20 million superyacht.
  • Visit Business Insider's homepage for more stories.

A hair extension company, Bellami Hair, wrapped a 54-foot yacht in a gold chrome vinyl coating to stand out while docked at London Fashion Week. VIPs were then brought on-board to enjoy a full service salon.

Read moreA sleek black yacht that just launched is now the world's largest superyacht. Take a look at the 600-foot vessel owned by a Norwegian billionaire.

The yacht, once named "Kinta" and now going by "Bellami.com," underwent a 13-day makeover off the coast of Italy earlier in the summer. A spokesman for LuxWrap, the company that created the gilded look, said it was the largest wrap job of its kind in the world. 

The vessel is currently on the market for $20 million.

Keep reading for a look at the superyacht and the process of wrapping it.

SEE ALSO: 25 photos show how the 1% live it up at the Monaco Yacht Show, from cruising in on helicopters to partying aboard multi-million dollar yachts

DON'T MISS: A 150-foot, champagne-colored superyacht reportedly once owned — and apparently abandoned — by Nicole Kidman just hit the market. Take a look inside.

Bellami, a hair extension company, wrapped an impressive superyacht with an eye-catching golden hull as an advertising ploy. The vessel spent the summer cruising the Mediterranean and docked at the River Thames for London Fashion Week.

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Source:Daily Mail



The 180-foot superyacht was built in Turkey in 2008 and is currently on the market for $20 million. It was previously named "Kinta," but is now known as "Bellami.com."

Source:Super Yachts



The yacht can accommodate 12 guests and 12 crew members.

Source:Super Yacht Times



In addition to an on-board swimming pool outfitted with a glass waterfall and jacuzzi, the superyacht is also equipped with a full service spa and hair salon.

Source:Super Yacht Times, Daily Mail



The superyacht got its glitzy exterior from a chrome wrap instead of a paint job. Nearly 6,500 square feet of golden vinyl coating was applied to the yacht while it was docked in Viareggio, Italy.

Source: Yacht Harbour



The Bellami project is the largest yacht wrap ever done, according to LuxWrap, the company that handled the wrapping.

Source: LuxWrap



It was also accomplished while the yacht was fully in the water.

Source: Billionaire Toys



The team used floating pontoons and scaffolding to complete the project.

Source: Billionaire Toys



The meticulous process took 13 days. It was scheduled to take 10 but was delayed by rain.

Source: LuxWrap



The yacht's exciting extras, like tenders and jet skis, were also wrapped in gold.

Source: LuxWrap



Following London Fashion Week, fashion and beauty influencers were invited to enjoy the yacht's amenities, including the gilded jet skis and full-service salon.

Source: The Sun



The world's first hydrogen-powered superyacht was unveiled at the Monaco Yacht Show. Here's a look inside the game-changing 367-foot vessel concept.

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Sinot AQUA_EXTERIOR BOW SIDE VIEW

  • Sinot, a Dutch yacht-design company, unveiled a detailed model of what would be the world's first hydrogen-powered superyacht at the Monaco Yacht Show.
  • The 367-foot vessel would be completely powered by liquid hydrogen and fuel-cell technology and emit only water.
  • Aside from the technological innovations, the yacht would have all the lavish trappings of the typical luxury superyacht.
  • Take a look at renderings of the futuristic, eco-conscious superyacht.
  • Visit Business Insider's homepage for more stories.

A model of a 367-foot yacht designed to run on liquid hydrogen was unveiled last week at the Monaco Yacht Show, the world's biggest superyacht event, Forbes reported.

The detailed miniature model, presented by a Dutch firm called Sinot Yacht & Architecture Design, is just over 6 1/2 feet and showcases the innovative direction the superyacht industry is taking.

Read more:I got into a Monaco Yacht Show gala for VIP superyacht buyers and industry elite. Here's what it was like at the exclusive party, which overlooked $4.3 billion worth of superyachts in the port.

The watercraft, named Aqua, would be the first superyacht to run on liquid hydrogen and fuel-cell technology, Sinot said. The yacht's only emission would be water, and the system would depend on two 28-ton vacuum-sealed tanks of liquid hydrogen stored at -423 degrees Fahrenheit.

Beyond cutting-edge technology, the vessel would feature state-of-the-art design and amenities.

Here's a look at renderings of Aqua and an inside glimpse at the future of eco-conscious superyachting.

SEE ALSO: A hair extension company wrapped a $20 million superyacht in gold — here's how they pulled off the lavish transformation

DON'T MISS: 25 photos show how the 1% live it up at the Monaco Yacht Show, from cruising in on helicopters to partying aboard multi-million dollar yachts

Aqua, the 367-foot superyacht designed to run entirely on liquid hydrogen, would operate at a top speed of 17 knots and have a range of 3,750 nautical miles.

Source: Sinot



The technology depends on two 28-ton, vacuum-sealed tanks that store liquid hydrogen at a cool -423 degrees Fahrenheit. The tanks would be viewable through a glass panel at the base of a spiraling staircase at the center of the vessel.

Source: Sinot



The superyacht's futuristic looks aim to complement its eco-conscious, cutting-edge technology with the luxurious air of a typical superyacht, according to the designer.

Source: Sinot



The team at Sinot Yacht Architecture & Design spent five months designing Aqua. "Our challenge was to implement fully operational liquid hydrogen and fuel cells in a true superyacht that is not only groundbreaking in technology but also in design and aesthetics," the lead designer, Sander Sinot, said in a press release.

Source: Sinot



The exterior was inspired by the flow of ocean swells, resulting in curved exterior lines and glass band windows.

Source: Sinot



The five-deck superyacht would accommodate 14 guests and 31 crew members.

Source: Sinot



It would have a master pavilion, two VIP staterooms, and four regular staterooms. All rooms would feature floor-to-ceiling windows and have a minimalistic, Japanese-inspired style.

Source: Sinot



Amenities would include a cascading infinity pool and extensive outdoor lounging space.

Source: Sinot



In addition to several casual indoor-outdoor entertaining spaces, the yacht would have a formal dining area that seats 14.

Source: Sinot



The superyacht would also have an expansive indoor health and wellness center featuring a gym, a hydro-massage room, and a yoga studio, reflecting the wealthy's growing interest in wellness as a status symbol.

Source: Sinot

Read more:'It's like going camping': Miranda Kerr said she and Evan Spiegel mop their floors with eucalyptus oil and turn off almost all the electricity in their house at night — and people have questions



And because superyacht owners love their toys, Aqua would also have carrying space for two 32-foot tenders and three Jet Skis.

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Source: Sinot



I stepped on board a yacht for the very first time, a sleek Champagne-colored vessel for sale at an undisclosed price. Here's a look inside the 150-foot, Bugatti-designed superyacht.

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HOKULANI

  • I recently attended the Monaco Yacht Show, a glamorous four-day event where an estimated 30,000 people came to see more than $4.3 billion worth of yachts displayed in Port Hercules.
  • At the show, I stepped foot onboard a yacht for the very first time.
  • The first vessel I toured was Hokulani, a 150-foot, Champagne-colored superyacht that's for sale for an undisclosed price with yacht management firm Imperial Yachts.
  • The hull and superstructure were built in collaboration with Bugatti.
  • Hokulani can sleep up to 10 guests across five luxurious staterooms.
  • While I was impressed with the yacht at the time, I soon realized it was just a warm-up compared to the some of the absolutely massive and wildly opulent superyachts I would visit throughout the show.
  • Visit Business Insider's homepage for more stories.

The Monaco Yacht Show is a glamorous four-day event held each September at the tiny, wealthy city-state on the French Riviera. It draws an estimated 30,000 yachting industry insiders, as well as customers interested in buying or chartering yachts.

I attended this year's yacht show and stepped onboard a yacht for the very first time. The first yacht I toured was Hokulani, a 150-foot, Champagne-colored yacht designed in collaboration with Bugatti. 

I wasn't allowed to take my own photos, but I got a private tour of the vessel with its captain, Luke.

Here's what it looked like.

SEE ALSO: Here's what it's like to attend the Monaco Yacht Show — in a country where the poverty rate is 0 — when you are not a millionaire

DON'T MISS: I spent 2 days at the Monaco Yacht Show, and never in my entire life have I felt so out of place

At the end of September, I attended the Monaco Yacht Show, a glitzy four-day event that brings an estimated 30,000 yachting industry insiders, as well as yacht owners, buyers, and charter customers, to Monaco, a tiny sovereign city-state on the French Riviera.

My first day at the yacht show, I got the chance to step on board a yacht for the very first time.

I was looking forward to experiencing the sheer opulence of being on a yacht and getting a glimpse at the lavish living quarters and luxe design details.



The first yacht I was able to tour was Hokulani, a 150-foot superyacht with a distinctive, Champagne-colored hull.

The American-made vessel was built by the Palmer Johnson shipyard, which is based in Wisconsin.

The hull and superstructure were designed in collaboration with Bugatti along with Italy-based studio Nuvolari Lenard.

I wasn't allowed to take my own photos of the yacht, but I got a private tour with the captain, Luke.



Launched in 2007, Hokulani has been cruising the waters of the Mediterranean since 2011, Luke told me.

Before that, it was based in Miami, Florida.

Luke told me he's a big fan of its Champagne hue.

"It's so different; every other boat you see is white," he said. "Not everyone's gonna like it ... but when you pull up in Saint Tropez, in Monaco, you've got people queuing up to get photos because there's nothing like it around."



The yacht's main deck is decorated in neutral tones, with new dark-toned wooden floors put in this year.

The yacht has all new TVs, an all-new internet system, and all the latest 4K ultra-high-definition TVs.

"It's got a fantastic IT system because one of the requests of the clients was to have fast internet so he could game live," Luke told me.

The yacht also has a brand-new cinema room installed in 2019.



The spacious master suite comes with a king-size bed with a study area and walk-in wardrobe.



The luxe master bathroom comes with a deep soaking tub.



Hokulani can sleep up to 10 guests in five staterooms. In addition to the master cabin, there are two twin bedrooms ...



... and two identical VIP cabins.

The yacht also sleeps seven crew members, but the crew's quarters were not included in the tour.



The main deck salon and dining area seats up to 12 guests.



A folding balcony offers an additional spot to enjoy the sunshine and look out over the water.



The sun deck has plenty of space for sunbathing, as well as an al fresco dining area.

With its abundance of sun lounging areas and large cabins, Hokulani is "a great all-around family boat," Luke said.



And then there's bridge, where the captain cruises the boat at 20 knots, with a maximum speed of 24 knots.

Hokulani is quite a fast boat, according to Luke.

"You can get from here to Sardinia [or] Corsica very quickly in eight, nine hours," he said. "You can get to Capri pretty quickly, go to Ibiza. This sort of boat, the speed you can do gets you anywhere pretty quickly."



While touring Hokulani, I was impressed with its unique Champagne color and luxurious living quarters.

But as I would realize later that day and the next, the superyachts that I would see next — including Amadea and Tis, two of the largest and most extravagant yachts at this year's show —would be on an entirely different level.



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