The superyacht is a phenomenon that has emerged in recent times. While building large yachts became a trend in the early to mid 20th century, owning a superyacht hasn’t really been a trend up until now. As wealth disparities and class divides continues to grow, the rich grow from rich to super rich, allowing them to buy things like superyachts that they previously could not. The chart below shows the growing number of superyacht projects, and how the vast majority of these projects end up being motor style, a more commercial style accessible only to the super rich.
The most egregious example of this is Jeff Bezos’ custom superyacht, Y721, which he commissioned in 2018 for $500 million from the Dutch company Oceanco, and was recently completed. The specs on the superyacht illuminate the vast wealth Bezos has to throw away: “This support ship measures 246 feet in length and accommodates 45 additional crew and guests. It will also feature a helipad and meeting space and have a vast amount of storage for Bezos’s endless number of water toys, with diving and snorkeling gear, jet and water skis, waterslides, and surfboards among the bunch.”
The average superyacht costs $275 million. If we assume that out of the 619 motor superyachts were average superyachts, around $275 million each, then the cost of all those superyachts and Bezos’ would total $155,250,000,000. With that kind of money, the U.N.’s plan for Elon Musk to end world hunger could be completed almost 26 times. That cost could cover a little over 1/2 the lower estimate to end climate change, and that is only for the money spent on purchasing motor superyachts in 2020. Over 2 or even 3 years? The money would definitely cover the lowest estimate, and then some.
Just something to think about when we see reports of Leonardo DiCaprio, the U.N.’s “Messenger for Peace for Climate Change” riding around in a superyacht.
SOURCES:
https://www.forbes.com/sites/aliciaadamczyk/2015/04/08/how-much-does-a-superyacht-really-cost/?sh=718973bf36bc
https://www.boatinternational.com/yacht-market-intelligence/luxury-yachts-on-order/2020-global-order-book–42403
https://www.mynewsdesk.com/us/brandessence/pressreleases/superyacht-market-statistics-2021-industry-analysis-3072167
https://www.bbc.com/news/world-us-canada-57079327
https://12ft.io/proxy?q=https%3A%2F%2Fwww.architecturaldigest.com%2Fstory%2Fbezos-mega-yacht
https://www.globalgiving.org/learn/cost-to-end-climate-change/
I think it is just unbelievable how large the wealth disparity has become. Not only for assessing climate change, but for a country that claims to be pro military and pro veteran, there are a huge amount of homeless veterans on the street. I think if we taxed these super billionaires a small amount of the money that they have, we could make huge changes to the country and the entire world.
Absolutely. The wealth disparity is a significant problem. It’s disheartening to see homeless veterans in a country that claims to support them. Implementing a progressive tax system could help address these issues and promote a more equitable society.
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The gap between high income and low income is massive and the point about ending world hunger with how much money is spent on superyachts is a terrifying thought. It really sheds light on how materialistic society is.
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This thought-provoking article encourages readers to reflect on the distribution of wealth and the priorities of the super-rich, while also highlighting the potential positive impact their resources could have on global issues such as hunger and climate change.khalidelarbi———-business for sale
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This article sheds light on the emergence of superyachts as a symbol of extreme wealth in recent times. The statistics and examples provided, including Jeff Bezos’ custom superyacht, offer a glimpse into the exorbitant costs associated with these luxurious vessels. Our online homework help service https://kingessays.com/pay-for-homework/ is here to make your academic life easier and more manageable. The comparison between the cost of superyachts and the funds needed for critical global issues like ending world hunger or addressing climate change prompts readers to reflect on the priorities of the super-rich and the potential societal impact of their spending habits. It’s a thought-provoking read that encourages us to consider the broader implications of conspicuous consumption in an increasingly unequal world.
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Thank you for sharing this insightful analysis of the phenomenon of superyachts and their environmental and social implications. The data on the cost of these vessels and the comparison to global challenges like hunger and climate change is thought-provoking.
khalidelarbi
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As wealth disparities and class divides continues to grow, the rich grow from rich to super rich, allowing them to buy things like superyachts that they previously could not. URL
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