American Billionaires and Their Luxurious Superyachts

In the glitzy world of superyachts, American billionaires have cemented their position as leading patrons. According to a report by industry publication SuperYacht Times, Americans own approximately one in every four superyachts globally, outpacing other wealthy nations.

A notable figure among these billionaires is the owner of Flex-N-Gate, who is also a member of the Forbes 400. In a significant purchase, he commissioned a new 400-foot superyacht, named Kismet, valued at nearly $390 million. The yacht, completed in 2024, boasts features such as fireplaces, floor-to-ceiling glass windows, and a bow designed to resemble a jaguar—a homage to the Jacksonville NFL team, also owned by him.

The billionaire’s decision to sell his previous Kismet to former Google CEO Eric Schmidt highlights the dynamic market of luxurious yachts. Schmidt acquired the yacht for $159 million, after a prior deal to purchase a different vessel fell through.

Americans’ love affair with yachts is evident, as Forbes compiled a list showing that 40 members of the Forbes 400 own at least 60 yachts collectively, valued at over $6 billion, as estimated by VesselsValue. These yachts range from the modest, such as those owned by certain members, to the grandiose, including the Rising Sun, famous for its luxurious amenities and famous guests like Leonardo DiCaprio.

Gabe Newell, cofounder of Valve, holds the largest fleet among America’s wealthiest, with six ships and multiple submarines under his management organization Inkfish. The billionaire’s passion extends towards oceanic research, akin to Schmidt’s involvement with the Falkor Too research vessel through the nonprofit Schmidt Ocean Institute.

The safety of these superyachts came under scrutiny after the tragic sinking of the yacht Bayesian in Italy, resulting in the deaths of its owner Mike Lynch, his daughter, and five others. Investigators have not yet revealed the cause, but initial suggestions point towards a freak weather event.

Despite risks, the allure of these extravagant vessels remains strong among the elite. Laurie Walton, a Walmart heiress, owns the yacht Kaos, and Facebook‘s Mark Zuckerberg recently entered the scene with the expansive Launchpad.

Even amidst economic uncertainty and geopolitical tensions, interest in superyachts is holding steady. However, new yacht sales have witnessed a decline, attributed to factors like rising interest rates and inflation.

As these billionaires continue to invest in nautical luxury, issues regarding safety standards and environmental impacts are drawing increasing attention. Yet, the superyacht industry remains abuzz, highlighting an unwavering appetite for these colossal maritime symbols of wealth.