🤔
The yacht crowd isn’t really concerned with national borders.
They mostly rent them. Yachts are so expensive to run that they’re not worth it for a mere millionaire.
Many yacht owners rent them out while they’re not using them as well.
Wait you can rent them?
Hmm I kinda wanna cosplay as a rich person for a day lol
Yes, I work in commercial insurance and we wrote the insurance for an entire portfolio of a family owned private equity. The father at the head of it owned multiple yachts and ran a side business renting them out when he didn’t use them. It essentially just made them cheaper to own.
For rich people, it’s not about using it or making a practical purchase. Its a way to show others how much you care about them (none).
It’s the yacht that counts.
For rich people, it’s not about using it or making a practical purchase. Its a way to show others how much you care about them (none).
I was thinking about this topic just a few days ago. I have another theory. Yes, yacht ownership is a method of communication, but they’re not trying to communicate with the common people, but instead indicating to each other of their level of wealth so they can find equal peers or greater peers to associate with, or greater to avoid.
A rich person with $10M net worth has almost nothing in common with a rich person with a $1B net worth.
Absolutely. They just take planes (and/or sometimes helicopters) to them.
even if their country has a port that doesn’t mean they keep their yacht there. better to fly to a Carribian island where the weather is nice than keep it near home and spend all that time sailing to where you want to be - boats are typically so slow that they would need to leave before they get there. If you want the yacht is some port you have the crew move it there and then you fly to it.
Kanye West lives in Wyoming.
And even if they didn’t, their wealth still has to be taxed.
