@theyachtfella: And it’s no sweat for the owner. This is “Opera” the 479-foot, estimated $450 million Lurssen owned by Sheikh Abdullah bin Zayed al Nahyan (also known as AbZ), the UAE’s minister of foreign affairs. (His brother, the late Sheikh Khalifa owned “Azzam” the world’s longest yacht at 591 feet.) The $140,000 number in the title is derived from a rule of thumb of yacht ownership that says a boat will cost approximately 10% of its upfront cost annually to run (dockage, fuel, maintenance, crew salary etc.). These numbers are guidelines, and vary by how the yacht is used. It rubs a lot of cranky old salts the wrong way when people like me use the 10% number for cost of ownership, so if you are one of those cranky old salts, let me say this preemptively: pipe down in the peanut gallery. Fortunately for AbZ, he has some of the deepest pockets in the world. His official net worth is listed at $10 billion, which is laughable. In reality, he controls a huge portion of the UAE’s state wealth, which spans well into the trillions. The Abu Dhabi Investment Authority (ADIA) alone is approximately $1.057 trillion. For perspective, the “57” in that number is $57 billion. And it’s just one of several large funds the family manages. It's nearly impossible to calculate how much money the family earns per day, but ChatGPT is telling me it’s conservatively about $100 million, which frankly seems low. Hence the yachts. Video: @cc_carveles

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Thursday 31 July 2025 19:59:38 GMT