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  4. Photos show how obsessed the wealthy are with blinged-out superyachts

Photos show how obsessed the wealthy are with blinged-out superyachts

When you have a lot of cash to burn, beachfront abodes and underground mansions as a means of vacationing is only scratching the surface.

Photos show how obsessed the wealthy are with blinged-out superyachts

The world's uber-wealthy are taking their millions to the seas to live lavishly on massive luxury yachts.

The world

Source: CNN

These vessels have been aptly dubbed superyachts.

These vessels have been aptly dubbed superyachts.

They're defined as measuring at least 90 feet long. Some of the world's most expensive range from 200 to 500 feet long, with the largest superyacht in the world clocking in at 600 feet long.

They

Owners dock their floating castles in bays around the world, from San Francisco and New York to the Mediterranean Sea and beyond, taking to them for both extravagant parties and for relaxing seabound vacations.

Owners dock their floating castles in bays around the world, from San Francisco and New York to the Mediterranean Sea and beyond, taking to them for both extravagant parties and for relaxing seabound vacations.

Source: CNBC and Yachting Harbour and SF Gate

But the 1% don't just use these vessels for the occasional long weekend on the water.

But the 1% don

Some owners use them as their fifth or sixth vacation home and liveaboard for 30 weeks out of the year in some cases, as reported by The New York Times.

Some owners use them as their fifth or sixth vacation home and liveaboard for 30 weeks out of the year in some cases, as reported by The New York Times.

And so these mega-crafts provide not only every creature comfort in the book but also some of the most luxurious means of entertainment to keep busy during long stays on board.

And so these mega-crafts provide not only every creature comfort in the book but also some of the most luxurious means of entertainment to keep busy during long stays on board.

Many superyachts come outfitted with guest suites, swimming pools, basketball courts, concert halls, Turkish baths, helicopter pads, recording studios, movie theatres, and plenty of other features suitable for the global elite.

Many superyachts come outfitted with guest suites, swimming pools, basketball courts, concert halls, Turkish baths, helicopter pads, recording studios, movie theatres, and plenty of other features suitable for the global elite.

The late Microsoft co-founder Paul Allen's 414-foot yacht Octopus, for example, comes with 41 suites, a glass-bottom pool, two helicopter landing pads, and two submarines available for guests to explore the water's depths.

The late Microsoft co-founder Paul Allen

There's also a recording studio inside the Octopus that has reportedly been used by Rolling Stones frontman Mick Jagger.

There

Allen paid $200 million to build the Octopus, and it's currently listed for sale for a cool $325 million.

Allen paid $200 million to build the Octopus, and it

On the pricier end of the spectrum, Russian billionaire Roman Abramovich spent $500 million on the 533-foot Eclipse.

On the pricier end of the spectrum, Russian billionaire Roman Abramovich spent $500 million on the 533-foot Eclipse.

The Eclipse comes with several hot tubs and a disco hall, among other luxury amenities. It's one of the most recognizable superyachts in the world.

The Eclipse comes with several hot tubs and a disco hall, among other luxury amenities. It

Allen isn't the only tech mogul to have also taken to purchasing his own private luxury yacht.

Allen isn

Seven iMacs are used to help control the Venus, the 256-foot yacht commissioned by late Apple CEO Steve Jobs for $129 million. The glass exterior of the vessel was designed to resemble a Mac store.

Seven iMacs are used to help control the Venus, the 256-foot yacht commissioned by late Apple CEO Steve Jobs for $129 million. The glass exterior of the vessel was designed to resemble a Mac store.

Source: Mac Rumors

Amazon CEO Jeff Bezos doesn't own the 454-foot Rising Sun superyacht, but he was seen partying aboard with girlfriend Lauren Sanchez during the summer of 2019 following his highly-publicized divorce. It's owned by entertainment mogul David Geffen and is valued at $590 million.

Amazon CEO Jeff Bezos doesn

Bezos was rumored to have owned the $400 million superyacht the Flying Fox, but an Amazon spokesperson said the yacht does not belong to him.

Bezos was rumored to have owned the $400 million superyacht the Flying Fox, but an Amazon spokesperson said the yacht does not belong to him.

The Flying Fox was recently spotted in Datça, a popular port of call in Turkey.

The Flying Fox was recently spotted in Datça, a popular port of call in Turkey.

The late venture capitalist Tom Perkins sold his yacht The Maltese Falcon to Greek hedge fund manager Elena Ambrosiadou for a reported $86 million in 2009.

The late venture capitalist Tom Perkins sold his yacht The Maltese Falcon to Greek hedge fund manager Elena Ambrosiadou for a reported $86 million in 2009.

The 289-foot Falcon can host up to 12 people and boasts a full-deck master cabin, a Jacuzzi, and an inflatable water slide.

The 289-foot Falcon can host up to 12 people and boasts a full-deck master cabin, a Jacuzzi, and an inflatable water slide.

The yacht is distinguished by its trio of sails that are capable of rotating depending on which direction the wind is blowing, which was an innovative feat for the industry at the time that it was built.

The yacht is distinguished by its trio of sails that are capable of rotating depending on which direction the wind is blowing, which was an innovative feat for the industry at the time that it was built.

And new advancements aboard superyachts are still being made. Billionaire Dan Snyder, the owner of the NFL team the Washington Redskins, outfitted his $100 million Lady S superyacht with the world's first floating IMAX movie theatre.

And new advancements aboard superyachts are still being made. Billionaire Dan Snyder, the owner of the NFL team the Washington Redskins, outfitted his $100 million Lady S superyacht with the world

Source: Forbes

Lady S may be the first superyacht with an IMAX, but others have historically come with some sort of movie theatre, like the 300-foot Equanimity.

Lady S may be the first superyacht with an IMAX, but others have historically come with some sort of movie theatre, like the 300-foot Equanimity.

The Equanimity, which has since been renamed Tranquility, is one of the most recognizable megayachts in the world, and it was even before it became embroiled in a multibillion-dollar scandal involving the state fund 1Malaysia Development Berhad (1MDB.)

The Equanimity, which has since been renamed Tranquility, is one of the most recognizable megayachts in the world, and it was even before it became embroiled in a multibillion-dollar scandal involving the state fund 1Malaysia Development Berhad (1MDB.)

The yacht used to belong to Malaysian banker Low Taek Jho, who the US government believed to be behind the scheme to swindle $4.5 billion from the 1MDB fund.

The yacht used to belong to Malaysian banker Low Taek Jho, who the US government believed to be behind the scheme to swindle $4.5 billion from the 1MDB fund.

The Malaysian government finally sold the confiscated vessel earlier this year for $126 million, about half of its purchase price, as reported by The Guardian.

The Malaysian government finally sold the confiscated vessel earlier this year for $126 million, about half of its purchase price, as reported by The Guardian.

The newly-branded superyacht was recently chartered by billionaire and cosmetics mogul Kylie Jenner for her 22nd birthday celebration. The Tranquility costs about $1.2 million a week to charter.

The newly-branded superyacht was recently chartered by billionaire and cosmetics mogul Kylie Jenner for her 22nd birthday celebration. The Tranquility costs about $1.2 million a week to charter.

Before the investigation led to the vessel being impounded, the Equanimity, as it was called then, was a regular at the annual Monaco Yacht Show, the most prestigious yachting event in the world that showcases the best of these mega-vessels.

Before the investigation led to the vessel being impounded, the Equanimity, as it was called then, was a regular at the annual Monaco Yacht Show, the most prestigious yachting event in the world that showcases the best of these mega-vessels.

The yacht show is also where the billionaire yacht owners throw their flashy after-party extravaganzas.

The yacht show is also where the billionaire yacht owners throw their flashy after-party extravaganzas.

The annual Cannes Film Festival in the Côte d'Azur is another star-studded event that brings these superyachts together for lavish yacht parties that attract billionaire A-listers from around the world.

The annual Cannes Film Festival in the Côte d

With such luxury afforded in owning a superyacht comes an exorbitantly high price tag, though it's likely a drop in the bucket for those seeking to own one.

With such luxury afforded in owning a superyacht comes an exorbitantly high price tag, though it

Even so, purchasing a superyacht is still a decision not to be taken lightly. Mark Duncan, a former commercial and marketing director for Yachting Partners International, told The Telegraph in 2017 that buying a superyacht is "not an investment, neither is it an essential."

Even so, purchasing a superyacht is still a decision not to be taken lightly. Mark Duncan, a former commercial and marketing director for Yachting Partners International, told The Telegraph in 2017 that buying a superyacht is "not an investment, neither is it an essential."

"It's a pure plaything, and the ultimate reward for all the hard work, the late nights, and the lack of quality time you've had with your family for however many years," Duncan told The Telegraph.

"It

And the turnover rate for yacht ownership is high — many owners will only keep their superyacht for three years before selling, according to a Towergate Insurance report.

And the turnover rate for yacht ownership is high — many owners will only keep their superyacht for three years before selling, according to a Towergate Insurance report.

The same report found that a 328-foot superyacht with a top speed of 25 knots and 50 crew members will cost around $275 million on average.

The same report found that a 328-foot superyacht with a top speed of 25 knots and 50 crew members will cost around $275 million on average.

But, of course, there are yachts on the low and high ends of the spectrum.

But, of course, there are yachts on the low and high ends of the spectrum.

Qatar's former Prime Minister, Hamad bin Jassim bin Jaber Al Thani, for example, owns the $250 million Al Mirqab.

Qatar

While the 590-foot Azzam, on the other hand, cost $600 million to build and belongs to Sheikh Khalifa bin Zayed Al-Nahyan, the president of the United Arab Emirates.

While the 590-foot Azzam, on the other hand, cost $600 million to build and belongs to Sheikh Khalifa bin Zayed Al-Nahyan, the president of the United Arab Emirates.

But it's not just the yacht alone that comes with a high price tag — millions more are needed for annual maintenance, crew salaries, fuel, docking fees, and insurance.

But it

On average, owners can expect to pay about 10% of what they initially paid for the watercraft alone.

On average, owners can expect to pay about 10% of what they initially paid for the watercraft alone.

For example, Allen, the co-founder of Microsoft, shelled out $200 million to build the Octopus, which means he was tasked with paying $384,000 a week just to operate the yacht.

For example, Allen, the co-founder of Microsoft, shelled out $200 million to build the Octopus, which means he was tasked with paying $384,000 a week just to operate the yacht.

Insurance can cost about $240,000 a year, according to a report by Towergate Insurance.

Insurance can cost about $240,000 a year, according to a report by Towergate Insurance.

Dockage fees for superyacht owners sit at about $350,000 a year. Fuel on the sea can be pricey too — expect to pay about $400,000 a year just to gas up.

Dockage fees for superyacht owners sit at about $350,000 a year. Fuel on the sea can be pricey too — expect to pay about $400,000 a year just to gas up.

And crew wages can add up to $1.4 million a year, especially when captains' salaries are taken into account. They make on average $7,750 to $19,961 a month.

And crew wages can add up to $1.4 million a year, especially when captains

Crew members are also tasked with protecting the priceless art that the superrich keeps aboard their yachts. Destructive incidents have become such a big issue that there's now a course that teaches the crew how to tend to the art.

Crew members are also tasked with protecting the priceless art that the superrich keeps aboard their yachts. Destructive incidents have become such a big issue that there

Crew member count varies from yacht to yacht. The Octopus, for example, employed 60 crew members at one point while the Maltese Falcon reportedly employs about 20 people.

Crew member count varies from yacht to yacht. The Octopus, for example, employed 60 crew members at one point while the Maltese Falcon reportedly employs about 20 people.

But one way that owners can likely compensate for these expenses is by listing their superyachts for rent — that is, if you have the pocketbook to match.

But one way that owners can likely compensate for these expenses is by listing their superyachts for rent — that is, if you have the pocketbook to match.

Source: Daily Mail

The Kismet, owned by the billionaire owner of the Jacksonville Jaguars Shahid Khan, has a weekly charter rate of about $1.3 million and has been rented by Beyonce and Jay-Z.

The Kismet, owned by the billionaire owner of the Jacksonville Jaguars Shahid Khan, has a weekly charter rate of about $1.3 million and has been rented by Beyonce and Jay-Z.

And the Maltese Falcon can be rented for $400,000 a week.

And the Maltese Falcon can be rented for $400,000 a week.

So if owning a superyacht is completely out of your budget, maybe renting one is a possibility.

So if owning a superyacht is completely out of your budget, maybe renting one is a possibility.

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