Bill Gates had previously been a rarity among his fellow billionaires by opting against owning a megayacht, instead preferring to rent during summer trips around the Mediterranean. That all changed in 2020 when the retired 68-year-old commissioned the world’s first hydrogen-powered vessel of its kind, splashing out more than £500m ($1.1b) on what became known as Project 821.
Gates’ interest in a green yacht was first reported by the Telegraph , when rumours swept the highly secretive industry. Four years and a pandemic later, the vessel is nearly complete. But Gates, who co-founded Microsoft and is the world’s fourth richest man, has put it up for sale via a specialist before it has even been delivered.
Brokers at Edmiston have been tasked with finding a buyer for the yacht, which is still housed at the Feadship yard in the Netherlands. The asking price is understood to be a cool €675m ($1.2 billion), with reasons for the sale unclear.
In decades gone by, finding a buyer for a megayacht of this size may have been easy, as the super-rich have long desired their very own palace at sea. However, the sale of Gates’ vessel comes at a rocky time for the yacht industry, which has been in decline ever since Vladimir Putin’s war started in Ukraine two years ago. According to analysts at Berenberg, a recent drop-off in sales is “linked to the perception that yachting is significantly exposed to Russian clientele”, such as former Chelsea owner Roman Abramovich.
Meanwhil.
