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/