On average, a 100-meter superyacht can fall between $100-200 million. The Azzam is nearly six times this size.
Size does matter, even in yachts, especially when it comes to the money that goes into building them. Which is why the worlds most expensive yacht has to be one of a kind.
With the launch of the gleaming new Azzam, Russian billionaire Roman Abramovich could no longer lay claim to being the owner of the world's largest superyacht, Eclipse, though it remains a mighty contender on the high seas. Interestingly, the Eclipse has been home to many a partying celebrity as well.
But lets talk about the world's most expensive and once the largest yacht,the Azzam, that belongs to Khalifa bin Zayed Al Nahyan, the President of UAE. It stands 590-feet long, a full 57-feet longer than the Eclipse. This means it's far bigger than a football field and even larger than the US Navy destroyers. Anything this big and fully geared with luxury cannot come cheap, can it?And the Azzam is super-duper expensive, costing hundreds of millions.
Heres what we know about the Azzam and the kind of money that went into building it. Plus, a little about the vessel that dethroned the Azzam from it's largest yacht title.
Lets begin from the bottom up to get a better estimate of the Azzam. On average, a 100-meter superyacht can fall between $100-200 million. The Azzam is nearly six times this size. Thats hint number one.
Then there is the annual upkeep, usually standing at about 10% of the yachts, value, easily running into thousands of dollars, sometimes also touching millions. Being Middle East royalty helps in one living the good life. Of course, this is also the country where you get to see the craziest cars on the road, especially in Dubai.
Maintaining a yacht is no cakewalk. When you calculate dockage fees, annual maintenance and repairs, staff salaries, insurance premiums, and gas charges, one realizes that a yacht is much like a white elephant. Of not much use, but a lot of expense. Most yachts, therefore, can only be owned by the super-rich as a means to show off their wealth and also reap its harvests.
And we talk of the President of the UAE, the fact that money is no issue to him, is brought home, even more, when you get to know of the monies that went into making this gorgeous yacht that most of us can only dream of even being on, let alone owning.
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For a while, the Azzam was the worlds largest yacht at 590-feet or 180-meters long. Now, it has been pushed back into the second position when it comes to size.
But if you talk about the amount of money that has gone into making the Azzam a haven on water, it still stands at number one and is far ahead of its competitors. Built at a whopping cost of $605 million, we are sure the Azzam comes loaded with luxury and all the world's finest that money can offer. Considering it belongs to the president of the UAE, the details of what went inside are confidential for obvious security purposes.
That said; Azzam employs a staff of 50. The construction of the interior was by Germanys Lrssen Yachts while for the exterior design, Italian firm Nauta Yachts were hired.
Unlike some boats that should be banned because they are too ugly, the Azzam is tastefully designed and looks gorgeous on the water.The top speed of the Azzam can cross 32 knots, pretty fast for a yacht this size, on two gas turbines and two diesel engines, combining for 47,000 horsepower. It cost about $10 million more than the previous largest-yacht titleholder, the Eclipse.
And yet, its triumph of being the largest has been shortlived for there's another yacht in the world now that may not be as expensive to build, but overshadows the Azzam in size, and well, intention.
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The worlds largest yacht is now the REV Ocean and stands at 600-feet in length. While she is a luxury yacht, what sets her apart is the fact that it is the worlds biggest research vessel as well, and will help fix overfishing, climate change, and plastic pollution in the water.
Kjell Inge Rkke is the proud owner of the REV Ocean, having made his fortune from fishing (the irony!) and offshore oil drilling. His idea was to give back, and the Rev Ocean is a hybrid vessel that has a yacht interior with luxury facilities for paying guests, with an ice-class hull and laboratories better at home in a polar research vehicle.
The best part of the REV Ocean is that money for the research and salaries of the scientists will come from the paying guests. The owner has leased it at just $1 per year to the eponymous non-profit he owns and the idea to save the world's oceans with an oceanic vessel is winning hearts.
That said, when it comes to price, the Azzam still holds on to its title. The REV Ocean, despite being the world's largest yacht, was built it an estimated cost of $350-500 million. The good thing is that getting on to the REV Ocean as a passenger is a lot easier than being invited to the Azzam. Plus, being on the REV Ocean means you do a little bit to save the oceans.
Sources: CNN, Forbes. TheTimes
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Arun Singh Pundir has been a longtime media crackerjack and worked most of his life in sales and marketing. In 2018, he officially flipped and switched sides to the editorial. He lives with his wife, two rascally sons, and is a car and motorcycle nut in his free time. Not that he has too much free time. He currently writes for HotCars on anything that has any number or kind of wheels. He considers his Isuzu D-Max V-Cross, Suzuki Ciaz, and Royal Enfield Classic 500, the three current flames of his life. His dream is to drive around the world; even if it takes more than eighty days.
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