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12th January 2009

Biggest Billionaire Yachts

In a dreary year for yachts, some of the wealthiest owners are helping keep the industry afloat.

When the longest yacht in the world, Eclipse, was tested in the water for the first time in June, it garnered attention yacht lovers around the globe. Russian oil billionaire Roman Abramovich, who already owns a 377-foot yacht, is reportedly spending anywhere from $300 million to $700 million on his newest one, which measures 557 feet.

In 2010 when he is expected to take possession, Abramovich will have bragging rights as the billionaire with the biggest boat, eclipsing Oracle's chief executive Larry Ellison and Dreamworks' David Geffen, who co-own the nearly 453-foot Rising Sun. The boat is also at least 25 feet longer than any other yacht currently in existence, including several belonging to Middle East royalty.

Even with the economic troubles, since the beginning of 2008 at least four new yachts over 350 feet have been delivered or are under construction for billionaires, almost all Russian.

 

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