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largest super yachts world ranking list - Luxe Digital

As Far As You Can Sea: World’s Largest Superyachts

Multimillion-dollar mega yachts.

by Emma Treagus Published on February 2, 2024

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With onboard swimming pools, cinemas, helicopter landing pads, and spas, the world’s largest superyachts have more facilities than your ‘average’ five-star hotel.

Owned by some of the world’s wealthiest people—along with a few anonymous owners who’d prefer to keep their luxury transport a secret—these mega yachts redefine the word “boat” into something indescribably sleek, stylish, and seriously impressive. 

If superyachts are your thing, you’ll want to read on for all the facts and figures on all of the largest yachts in the world.

The 26 largest yachts in the world

Multimillion-dollar mega yachts: our ranking methodology.

A superyacht or mega yacht is typically a motor yacht or sailing yacht with a length of 30 meters (100 feet) or more. For this ranking, we looked at the superyachts and luxury expedition mega yachts that are used privately or made available for charter. We excluded so-called ‘residential superyachts’ (think Njord and The World), which are essentially luxury apartment buildings at sea where people own private residences inside the superyacht rather than the whole yacht. By researching diverse, reliable sources like Wikipedia and the Superyacht Times, we compile a list of the largest yachts in the world.

Curious about other striking superlatives? Check our round-up of the most expensive cars in the world and the most expensive private jets in the world . They are both perfectly good alternatives to owning a yacht. And if you prefer to stay home, we’ve ranked the biggest homes and the most expensive houses in the world to give you some inspiration too.

26. Y721 (aka Koru) | 417 feet—127m

largest super yachts world y721 aka koru by oceanic - Luxe Digital

Ever wonder where Jeff Bezos spends his downtime? As of today, we’re predicting it to be on his $500 million superyacht. Y721—nicknamed Koru—is 127m long. And featuring three sky-high slender masts, Koru is said to be the largest sailing yacht in the world . 

With dark exteriors and natural wooden decks, Koru is inspired by another one of Bezos’ yachts—the Black Pearl. The clean lines and classically curved bow speak to an understated elegance despite the yacht’s mammoth size. While a long line of portals indicates at least 9 guest cabins. In light of all the secrecy surrounding Koru, we doubt Bezos will ever charter her out, but we can still dream.

25. Al Mirqab | 436 feet—133m

largest super yachts world serene al mirqab - Luxe Digital

Adorned with cascading chandeliers and gold accents, Al Mirqab is renowned for its unrivaled interiors. Surrounded by suspended glass artworks, a grand staircase floats throughout the four floors. And inspired by authentic Arabian styles, the magnificent superyacht is reminiscent of a magic carpet ride through the seas . 

Built for the former Prime Minister of Qatar, Peterswerft-Kusch spared no expense in delivering Al Mirqab to an impossibly high standard for luxury. The large swimming pool is a standout feature as it opens up into the sea, creating the ultimate playground for adults. Al Mirqab has a capacity for up to 60 guests and is manned by an equal number of crew. Although you have to be invited by the politician himself as Al Mirqab isn’t available for private charter.

24. Serene | 439 feet—134m

Adeptly named, the magnificent superyacht embodies the serenity of a life at sea. Serene was built in Italy for a Russian owner in 2011. She was leased to Bill Gates for the Summer in 2014 for $5 million per week. 

Designed by Reymond Langton, the 134m mega yacht marries elegant sophistication with state-of-the-art technologies. The seven decks leave ample space for guests to soak in scintillating views. While the underwater viewing room—nicknamed the Nemo room—is a permanent gallery of resplendent sealife. The real-life snow room makes up to four inches of snow. And whilst this may seem odd when your billionaire boss asks for snow—you make it snow.

23. Crescent | 445 feet – 136 m

largest yachts crescent - Luxe Digital

Yet another Lurssen masterpiece, Crescent pays homage to classic naval designs with traditional architecture and elegant interiors. Formerly named Project Thunder, she was built in Germany and delivered to Igor Sechin in 2018. The Russian oligarch’s superyacht was seized by Spain after sanctions were placed on Russia in 2022. 

Crescent features low bulwarks and full-height windows to maximize the view from the center of the boat. Her distinctive wing station provides unrivaled views for up to 18 guests. But don’t get your hopes up—Crescent is strictly for private use only and isn’t available for charter. 

22. Savarona | 446 feet – 136m

largest yachts savarona - Luxe Digital

Savarona is the second-largest yacht built by Blohm & Voss and spends most of her time in the Mediterranean. This luxury superyacht is one of the oldest in the market — a perfect fusion of traditional charm and modern facilities. 

Previously named Gunes Dil, Savarona was designed by Cox & Stevens, with interior design carefully handled by Donald Starkey. She’s available to charter on a weekly basis and has been refurbished over the years. Back in the day, her cost price was $4 million, and in 1989, she was chartered by Kahraman Sadikoglu, owner of the Turkish Sadikoglu Group, who spent an estimated $50 million on refurbishing her from top to bottom.

21. Flying Fox | 446 feet – 136m

largest yachts flying fox - Luxe Digital

Flying Fox is known as the most expensive charter yacht in the world , and a week aboard will set you back around $3 million. Chartered by the one and only power couple Beyonce and Jay-Z in 2021, it’s filled to the brim with all of the luxury facilities you could ever possibly want. 

The Flying Fox is rumored to be owned by Jeff Bezos, although that’s a claim that’s never been totally certified. She spends most of her time in the Mediterranean, specifically Cannes, Capri, and Sardinia, although she’s recently visited Norway, too. She can accommodate the largest helicopters on the market, and it reportedly took more than 50 meetings with her owner for interior design to be completed.

20. Rising Sun | 454 feet – 138m

largest yachts rising sun - Luxe Digital

The Rising Sun’s original owner, Larry Ellison, CEO of Oracle Corporation, sold her in 2010 as he considered her too large. Famously used by David Geffen for self-isolation, Rising Sun has also been a popular hang-out spot for celebrities like Oprah Winfrey and Beatrice, the Princess of York. 

She’s a Superyacht with impressive attention to detail like interiors kitted out in teak and onyx and endless features like a full gym , a large wine cellar, a sauna, and a spa. She’s got a full-size basketball court that doubles up as a helicopter landing pad and a private cinema for those long evenings spent at sea.

19. Al Salamah | 457 feet – 139m

largest yachts al salamah - Luxe Digital

Al Salamah is part of the Omani Royal fleet and started her very secretive life in Genoa. Known as the world’s biggest superyacht right up until 2016, she’s a sleek masterpiece of a ship, with a distinctive cream color and beach club design. 

Al Salamah does everything in multiples, from the five galleys onboard (the main galley, a bakery, a crew galley, an owner’s diet galley, and an Arab galley), three hospitals (one for the owner, one for guests, and one for the crew) and 2,000 sqm of floor space. She was put on sale briefly for $280 million USD, before being delisted and instead given as a gift to the Crown Prince of Bahrain. 

18. Solaris | 458 feet – 139m

largest yachts solaris - Luxe Digital

Everything about Solaris was supposed to be kept a secret when she was being built—a secret that didn’t last long when her huge size was spotted undergoing sea trials in the North Sea. One of this Superyacht’s main attractions is her beach club on the top floor: the perfect spot for relaxation during those long days out at sea. 

That beach club comes complemented with endless other stylish amenities, like a large helipad, sun deck, and a crane to launch tenders, toys, and subs. Interior design is largely unknown, but, if it’s anything as sleek and white as its exteriors, it’s sure to be impressive.

17. Scheherazade | 459 feet – 140m

largest yachts scheherazade - Luxe Digital

Two helicopter landing pads, two outdoor Jacuzzis, and two outdoor fire pits: Scheherazade doesn’t hold back with not only the essentials but also the luxuries. Previously named Lightning, “Scheherazade” is mostly associated with a female character in the Middle Eastern folk tales in the series One Thousand and One Nights. 

Not much is known about this superyacht, and even her birth and building process were referred to under a codename: Project Lightning. No one involved in her creation, even Lurssen, has revealed anything about her interiors or her owner. All that’s really known is that she sailed from Germany to Norway initially after completion. 

16. Ocean Victory | 460 feet – 140m

largest yachts ocean victory - Luxe Digital

Ocean Victory has traveled all over the world, from Europe to Southeast Asia and back again. Owned by Russian billionaire Viktor Rashnikov, she’s the upgraded vessel to follow his purchase of the 76-meter Ebony Shine. 

She’s one designed with pure luxury in mind, from the six individual swimming pools onboard to the 300-square meter spa area. She’s beautiful both inside and out, with a unique concept designed by Espen Oeino and interior designer Alberto Pinto. The largest superyacht ever built in Italy, Ocean Victory shows some of the finest in the world when it comes to premium quality adventures at sea.

15. Yas | 463 feet – 141m

largest yachts yas - Luxe Digital

Yas is known best for its seamless and rather unusual design — one that’s a little different from most superyachts out there. The owner of Yas wanted a yacht that lived up to his own heritage; one with a backbone reminiscent of the navy and with abstract lines throughout. 

He chose an existing boat in Abu Dhabi, which was deconstructed within the region before being shipped off and renovated into the wonder that it is today. The Yas yacht was originally a Dutch navy frigate, which you’d never guess from strolling around onboard today.

14. Nord | 465 feet – 142m

largest yachts nord - Luxe Digital

Nord’s distinctive bow design has never been seen before on a yacht. That’s one of the first things you’ll notice about her. The next thing you’ll notice is her unusual design, which verges on battle-esque and has been called “ a warship wearing a tuxedo ” by Dan Lenard of the Italian design studio Nuvolari-Lenard. 

She’s one of the best superyachts out there for fun, with a sports and diving center on the lower deck, a swimming pool higher up, overlooking the ocean, and a fleet of tenders. She was designed for global exploration: a yacht that will calmly cruise her way all across the world.

13. Sailing Yacht A | 469 feet—142.8m

Challenging the status quo and pushing design boundaries, Sailing Yacht A is an enigma. The sail-assisted superyacht was built in Germany and delivered to Russian tycoon Andrey Melnichenko in 2017. However, she was seized by the Italian police force, Guardia di Finanza, in 2022 after sanctions were placed on Russian businessmen following Russia’s invasion of Ukraine. 

Distinguished by soaring rotating carbon fiber masts, Nobiskrug’s hybrid approach to superyachts makes Sailing Yacht A more eco-conscious than other luxury yachts of her size. The u nderwater viewing pod molded into the keel speaks to her unrivaled innovation. And many balconies are enclosed by some of the largest pieces of curved glass ever made. 

12. El Mahrousa | 478 feet – 146m

largest yachts el mahrousa - Luxe Digital

El Mahrousa had a few different names in her time, ranging from the translated “The Protected” to El Horreya, which in Arabic translates to “Freedom.” It’s not surprising that she’s had more than one name when you take into account her age. As the oldest superyacht in the world, she’s undergone a lot of restoration over time, including multiple lengthenings and faster engines. 

She was renamed back to El Mahrousa in 2000 and gained even more recognition for being the first ship to cross the new Suez Canal extension in 2015. Back in her original days, she was built on the River Thames and took her first trip in 1867.

11. OK | 479 feet—146m

largest yachts ok - Luxe Digital

Delivered in Japan in 1982, OK is one of the largest and most unique superyachts in the world. Sprawling over 479 feet, the water giant is engineered to submerge almost seventy percent. This is accredited to the work done by Karmarine Shipyard. While the majority of the vessel was built by Oshima Shipping, it was privately converted to a semi-submersible yacht in Turkey. 

The superlative finishing on OK superyacht was designed by Timur Bozca, winner of the Younger Designer of the Year award in 2015. The blueprint being as many games as possible. The extraordinary vessel has the uncanny ability to hold over seventy toys, including a sailing yacht, a sea plane, tenders, buggies and even a tennis court.

10. Opera | 480 feet—146.4m 

largest yachts opera - Luxe Digital

Like many of the most majestic water titans, Opera was delivered by Lurssen in Germany and built for Abu Dhabi royalty. This time, the owner is Sheikh Abdullah bin Zayed Al Nahyan, son of the founder of the United Arab Emirates. And while it may not be quite as astronomical as Lurssen’s previous builds—Azzam, Blue and Dilbar—the streamlined vessel is equally impressive onboard. 

The three-story superyacht proves large enough for a pair of helipads and two swimming pools, amongst many other toys, while simultaneously making room for up to 48 guests and 80 crew members. When it comes to the interior, details are sparse, but we do know that it was designed by Terence Disdale, a London firm renowned for creating bespoke luxury spaces. 

9. Prince Abdulaziz | 482 feet – 147m

largest yachts prince abdulaziz - Luxe Digital

The Prince Abdulaziz’s yacht was ordered by King Fahd, who named her after his son Prince Abdul Aziz. Now, she’s owned by his brother, Abdullah. Just one of the yachts owned by the Saudi royal family, she’s spotted frequently throughout Europe, especially in Cannes, where the royal family owns a property. 

She’s been redecorated once — in 2007 — in a project that took 15 months to complete, without even taking into account the rest of the ship’s upkeep. The Prince Abdulaziz is known for its combination of bold colors and fusion of traditional and modern design, thanks to its influence from the late David Hicks.

8. A+ | 483 feet – 147m

largest yachts a plus - Luxe Digital

What do you do when the name “A” is already taken for your superyacht? Choose the next closest thing: A+. Previously named Topaz, this superyacht was the world’s fourth-largest luxury yacht when she was built, before being stripped of that particular title only a few years later. 

Nevertheless, she’s a seriously impressive superyacht, with endless facilities like a large jacuzzi, double helicopter landing pads, a swimming pool with a swimming platform and underwater lights, as well as a fitness hall, cinema, and a large conference room. She’s also well equipped with water toys, like jet skis, inflatable boats, a catamaran, and even a mini-submarine.

7. Al Said | 508 feet – 155m

largest yachts al said - Luxe Digital

Another Superyacht built, shrouded in secrecy, Al-Said was referred to as “Project Sunflower” the entire time she was being created, right up until she was delivered to her owner in 2008. Not much is known about Al Said, from her movements through to her amenities — although she is known to have a huge concert room with space for a full 50-person orchestra. 

Currently, she’s flying the flag of Oman and has spent a lot of time in its surrounding waters. Her interior was styled by British designer design house RWD, with exterior design being credited to Espen Oeino. When she was delivered to the Sultan of Oman, she replaced a previous ship of a smaller size. 

6. Dilbar | 511 feet – 156m

largest yachts dilbar - Luxe Digital

Dilbar, or Project Omar, as it was originally known as, is another superyacht designed with the help of exterior expert Espen Oeino, but with interiors strikingly designed by Andrew Winch. Dilbar is famously known as the world’s largest yacht by gross tonnage (interior volume) but as the fifth-longest superyacht in the world. 

She’s home to a spa pool and beach club, as well as a large private cinema, spacious cabins set high on the main deck, a spacious dining room, and a salon with its own piano. She’s just as classy and beautiful on the inside as she is on the outside.

5. Blue | 527 feet—160.6m

largest super yachts world blue lurssen - Luxe Digital

Sunday blues simply cease to exist on one of the world’s most extravagant superyachts. The elegant behemoth was built for member of the ruling family of Abu Dhabi and billionaire, Sheikh Mansour bin Zayed Al Nahyan in 2022. Valued at over $600 million, Blue is one of the most expensive superyachts in the world. And with a strong emphasis on the environment, this superyacht is also one of the most sustainable. 

Blue strives to be as environmentally friendly as possible. She is equipped with a highly efficient Diesel-Electric Hybrid Propulsion Concept developed by Lürssen’s own engineering specialists. And the wastewater treatment plant allows water to be disposed of in drinking water quality.

4. Dubai | 531 feet – 162m

largest yachts dubai - Luxe Digital

Dubai had multiple names in the planning stages—including Panhandle, Platinum, and Golden Star. Owned by the ruler of Dubai, it was aptly named after its home country and comes with all of the luxurious amenities you’d expect from such a name. 

The Dubai comes complete with a huge swimming pool and two jacuzzis. Further down, you’ll find a large dining room with striking blue and burgundy decor and space for up to 90 guests. Dubai usually spends her time moored at Sheikh Mohammed’s private island in front of his summer palace in Dubai. She’s basically the definition of a floating palace.

3. Eclipse | 533 feet – 162.5m

largest yachts eclipse - Luxe Digital

It took around five years for Eclipse to be built from start to finish. While she was always designed to be a huge, luxurious Superyacht, the focus was more on decking it out appropriately rather than breaking any records. An award-winning superyacht, she’s incredibly spacious, with endless rooms to explore and a sleek, neutral color palette running through. 

The Eclipse’s owner, Roman Abramovich, was more focused on facilities: he wanted more than one helicopter pad and a large swimming pool, too. Other than that, designer Terry Disdale had free reign for the rest of the superyacht. It’s just as much a clean piece of architectural styling as it is a stunning experience on deck.

2. Fulk Al Salamah | 538 feet – 164m

largest yachts fulk al salamah - Luxe Digital

Fulk Al Salamah translates to “Ship of Peace” and that’s something that sounds like a given when you’ve taken a look at this superyacht’s incredible layout. Developed under the codename Project Saffron, Fulk Al Salamah is more of a support vessel than she is a typical superyacht. 

While she might still come complete with all of the necessities for a particularly relaxing voyage, she’s more so known for being a transport ship for the Royal Navy of Oman. She’s also used as a sort of friendship boat — pun intended — and is often sailed across the world with the intention of strengthening ties with the Sultanate. In some ports, influential people are welcomed onboard.

1. Azzam | 590 feet – 181m

largest yachts azzam - Luxe Digital

Most superyachts in the top 10 category have a few mere inches between sizes, but the Azzam shoots far ahead with a large amount of extra length. The largest superyacht in the world, she was never designed to win the title — rather just to be a sleek and elegant vessel. Azzam was crafted backward, with the plans for her interior confirmed long before her exterior was fully signed off. 

Her length only came to be as such to incorporate everything required for the interiors, which added an extra 35 meters to her overall size. She’s also designed to look smaller than she actually is, with a blend of indoor and outdoor living. It took more than 4,000 people to build Azzam , clocking up six million man-hours over a period of four years.

The largest yachts in the world: Conclusion

The largest yachts in the world are:

  • Azzam—590 feet
  • Fulk Al Salamah—538 feet
  • Eclipse—533 feet
  • Dubai—531 feet
  • Blue—527 feet
  • Dilbar—511 feet
  • Al Said —508 feet
  • A+—483 feet
  • Prince Abdulaziz—482 feet
  • Opera—480 feet
  • OK—479 feet
  • El Mahrousa—478 feet
  • Sailing Yacht A—469 feet
  • Nord—465 feet
  • Yas—463 feet
  • Ocean Victory—460 feet
  • Scheherazade —459 feet
  • Solaris—458 feet
  • Al Salamah—457 feet
  • Rising Sun—454 feet
  • Flying Fox—446 feet
  • Savarona—446 feet
  • Crescent—445 feet
  • Serene —439 feet
  • Al Mirqab—436 feet
  • Y721 (aka Koru)—417 feet

The most expensive yacht in the world

The fact that the History Supreme, the world’s most expensive superyacht, comes coated in gold, is only part of the reason for its high cost. A superyacht with a real-life Midas touch, it was sold to an anonymous Malaysian businessman for $4.8 billion. 

Robert Kuok, the richest Malaysian businessman, is the rumored owner of History Supreme, but no one has confirmed for sure. The History Supreme also comes with plenty of other impressive touches: a master bedroom decked out in platinum, a wall feature made from meteoric stone, and a genuine T-Rex dinosaur bone, to add to the list. 

She took three years to build from scratch and comes with 10,000 kilograms of solid gold and platinum. Other seriously luxe features are her 68 kilograms 24-carat gold Aquavista Panoramic Wall Aquarium and a liquor bottle adorned with a rare 18.5-carat diamond . The base of the vessel comes wrapped in gold, too.

Frequently asked questions about the world’s largest yachts

The largest yachts in the world are owned by Sheikh Khalifa bin Zayed Al Nahyan, Sultan Haitham bin Tariq, Roman Abramovich, Sheikh Mohammed bin Rashid Al Maktoum, and Alisher Usmanov. Our guide tells you more about all the biggest yachts in the world .

At 417 feet (127 m), Amazon founder Jeff Bezos’ sailing yacht, Koru (formerly Project Y721), is one of the world’s largest yachts.

The 181-m (590 ft) Azzam is the world’s longest yacht in length, but the 156-m Dilbar has a much larger internal volume (measured in Gross Tons) at 15,917 GT (Gross Tons) versus 13,136 GT for Azzam. As such, Dilbar is the world’s largest yacht in volume. Read our full guide to discover the largest yachts in the world .

The biggest yacht in the world is the Azzam , which has an estimated cost of $600 million. She’s owned by Sheikh Khalifa bin Zayed Al Nahyan and is not currently for sale.

In terms of the number of megayachts, the largest superyacht-owning country is the United States. Nationality-wise, beyond American, an increasing percentage of superyacht owners are Turkish, Greek, Emirati, German, Australian and Dutch.

About the author

100 million dollar yachts

Emma Treagus

Women’s fashion & travel editor.

A former fashion assistant and budding entrepreneur who calls the world her home, Emma writes many of Luxe Digital’s women’s style and travel stories, drawing on her passion and experience for slow fashion alongside an appreciation for current trends. When she’s not getting her way with words, you’ll find her exploring a new city (at quite a walking pace)—locating the nearest sushi restaurant or devouring a book on the beach.

Learn more about Emma Treagus

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INVICTUS Yacht – Lap of Luxury $100M Superyacht

The Delta Design Group developed INVICTUS, which was built by the shipyard, Delta Marine.

Delivered in 2013, she features award-winning interior design from Diane Johnson Design and Mulder Design.

The superior yacht offers the best luxury features and designs that are the epitome of the superyacht lifestyle.

INVICTUS is a leading entertainment vessel on the water for guests with its host of toys and luxury features. 

invictus yacht side view

INVICTUS yacht interior

The interior of the INVICTUS yacht is an award-winning design delivering superyacht living at its finest. She was designed in combination with Diane Johnson Design and Mulder Design .

The interior features exotic dining options with breakfast on the sundeck or lunch by the pool and other relaxing spots spread across six expansive decks.

The sun deck is equipped with a barbecue, jacuzzi, and a range of sun loungers to make the most of the relaxation on the yacht.

The design elements are luxury at their finest, featuring exotic woods, rare Italian marbles, and Art Deco fixtures.

There are accommodations for 12 guests with eight individually designed guest cabins. The full-beam master suite with magnificent wrap-around windows and natural light is the best feature of the yacht.

A bar is on every deck, and a movie theatre provides a cinema experience for guests. A gym onboard allows guests to work out while on the yacht.

A spacious beach club offers easy access to a vast array of toys and water toys.

Toys include WaveRunners, a water slide, wakeboards, inflatable tows, and many more adventurous games to play on the water.

The yacht is wheelchair accessible thanks to the elevator linking the main, owners, and bridge deck.

Adding to the luxury experience is a Parisian nightclub-style sky lounge. The layout is spacious, luxurious, and has gorgeous appointments for guests to enjoy the best in superyacht luxury. 

yacht invictus image

The INVICTUS yacht was built by Delta Marine , featuring naval architecture from Delta Design Group , and delivered from the shipyard in 2013.

The full displacement hull is made from steel, and it features a GRP superstructure. She cuts an impressive figure on the water with her six decks and many luxurious features.

invictus

Specifications

The INVICTUS yacht is a 66m superyacht, with a 13.1m beam and a 4.1m draft. She has a displacement of 1943 gross tons and is powered by twin Caterpillar engines .

She has a maximum of 17 knots and maintains a cruising speed of 16 knots.

She has an advanced stabilization system that reduces the rolling motion of the yacht while in the water, ensuring guests’ comfort levels while underway or at anchor.

The $100 million vessel has an annual running cost of $5-$10 million.

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A Look Inside a $100 Million Superyacht

Wealthy boat owners are trading life on land for the high seas—but some are finding living on a large yacht for months on end comes with a cost

Vural Ak, 54, a Turkish entrepreneur and speed enthusiast whose interests include a rental car company, agricultural businesses and a motor sport racetrack, completed his superyacht, the roughly 280-foot motor yacht Victorious, last year.

Superyachts are generally defined by brokers as those over 25 meters in length.

Mr. Ak, who normally lives in Istanbul, said he intends to spend four or five months a year on the boat and, as such, like many other yacht owners, is looking to maximize its autonomy.

The main corridor

The nearly 280-foot -long superyacht is designed to appeal to Mr. Ak's family as well as to charter passengers.

A children's playroom

The long-distance Victorious has a range of about 15,000 miles and enough refrigerated food storage and freezers to provision for six months at sea.

A lounge on the upper deck

It has a gentleman’s club with a wood-burning fireplace, a beach club, a gym, a massage room (pictured), a beauty salon, a hammam and a flexible workspace that can be transformed into an entertainment area.

The cost: roughly $100 million.

He purchased the incomplete yacht from Graeme Hart, New Zealand’s richest man, in 2016, he said.

The master cabin

Then, struggling to find a shipyard that could complete the boat to his desired specifications, he eventually resorted to starting his own shipbuilding company in Istanbul.

The main stairs

His wife, Nur Ak, and friends thought he had lost his mind, he said.

A bathroom on board

But the new venture has given Mr. Ak a front-row seat to the frenzied state of the yachting world.

After taking his boat to a yacht show in Monaco earlier this year, he entered contract talks to build four yachts, a striking wave of demand for such a new company.

Storage for sea toys

Meanwhile, he’s finding that “the logistics chain is nearly broken,” he said. “You order something and it comes only after many, many months,” he said.

Produced by Julia Munslow

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Why the U.S. put a $1 million bounty on a Russian yacht’s alleged manager

On Sept. 3, 2020, the staff of a $90 million yacht placed an order with a U.S. company for a set of luxury bathrobes that came to $2,624.35.

For roughly two years before that, according to federal prosecutors, the yacht’s management had been falsely claiming it was working for a boat named “Fanta.” But the luxury bathrobes came embroidered with a monogram that, prosecutors said, revealed the yacht’s true identity: “Tango.”

That was a problem, officials say in court papers, because Tango was owned by a Russian billionaire under U.S. sanctions, and doing business on his behalf violated federal law.

Late last month, U.S. authorities unveiled a $1 million reward for information leading to the arrest and or conviction of the man they say was running the yacht staff and orchestrated the deception with the robes — Vladislav Osipov, 52, a Swiss-based businessman from Russia. In a new indictment , federal prosecutors say Osipov misled U.S. banks and companies into doing business with the Tango yacht despite the sanctions on the Russian owner, whom the Justice Department has identified as billionaire Viktor Vekselberg .

Osipov has denied the allegations. Osipov’s attorney has said that the government has failed to demonstrate that Vekselberg owned the yacht, and that its management was therefore not a sanctions violation.

The reward offer for Osipov reflects the latest stage in the evolution of the West’s broader financial war against Russia two years into the war in Ukraine, as the United States and its allies increasingly target intermediaries accused of enabling Russian oligarchs to circumvent sanctions.

Many Russians close to President Vladimir Putin have been under sanctions dating to 2014, when Russia seized Crimea from Ukraine and sent proxy forces into that country’s eastern Donbas region. When Russia invaded Ukraine in 2022, President Biden vowed to deal a “crushing blow” with a barrage of new sanctions on financial institutions, industries, business executives and others tied to the Kremlin. But roughly two years later, Russia’s economy has proved surprisingly resilient after the nation poured tens of billions of dollars into ramping up its military industry. Moscow has also worked around the sanctions, finding new third parties to supply it with critical military and industrial hardware, as well as countries beyond Europe to buy its oil.

Now, the West is trying to increase the reach of its sanctions by digging deeper into Russian supply chains. Late last month, the Treasury Department announced more than 500 new sanctions targeting Russia , primarily on military and industrial suppliers. The Justice Department also announced charges against two U.S.-based “facilitators” of a Russian state banker who is under sanction, as well as the guilty plea of a dual national based in Atlanta who was accused of laundering $150 million through bank accounts and shell companies on behalf of Russian clients.

Prioritizing criminal charges against — and the arrests of — Western employees of Russia’s elites represents a new escalation of the U.S. financial war against Putin, experts say. One Moscow businessman, speaking on the condition of anonymity for fear of retribution, said many influential Russians are concerned about the arrest of two associates of Andrey Kostin, the head of VTB, Russia’s second-biggest state bank. These associates, Vadim Wolfson and Gannon Bond, were charged with helping Kostin evade sanctions by maintaining a $12 million property in Aspen, Colo., for Kostin’s benefit while concealing his ownership. Kostin has said that the charges of sanctions evasion against him are “unfounded” and that he has not violated any laws . Bond has pleaded not guilty; Wolfson hasn’t made an initial court appearance yet.

Wolfson, also known as Vadim Belyaev, had been a Russian billionaire until the Russian government took over his bank in 2017. Bond, 49, is a U.S. citizen from Edgewater, N.J. For all Russians living abroad and working with people in Russia, the threat of criminal charges is a much more worrying prospect than the sanctions imposed by the Treasury Department last month against hundreds of individuals and entities, the businessman said, in part because sanctions are far easier to dodge than criminal charges.

“What you have seen through today’s public announcements are our efforts at really targeting the facilitators who possess the requisite skill set, access, connections that allow the Russian war machine [and] the Russian elites to continually have access to Western services and Western goods,” David Lim, co-director of the Justice Department’s KleptoCapture task force, which is tasked with enforcing U.S. sanctions over Russia’s invasion of Ukraine, told reporters last month.

Thad McBride, an international trade partner at the law firm Bass Berry & Sims, said the crackdown on intermediaries reflected the natural evolution of the U.S. sanctions campaign in response to Russian adjustments.

“It seems to me they have gone through a comprehensive list of the oligarchs, and you can debate whether or not it’s had a meaningful impact on the Russian war effort,” McBride said. “Because they’re getting smarter about who’s who, they’re finding other people who play meaningful roles in these transactions, even though they’re not showing up in the headlines.”

The charges against Osipov related to his alleged management of the Tango yacht illustrate the mounting potential consequences for people in Europe and the United States who attempt to do business with Russians targeted by Western allies, as well as the opaque structures allegedly employed by those seeking to evade sanctions.

With a net worth estimated by Forbes in 2021 at $9 billion, Vekselberg, 66, has long drawn scrutiny from the West — and sought to safeguard his wealth. He made his initial fortune in aluminum and oil in Russia’s privatization of the 1990s and then expanded into industrial and financial assets in Europe, the United States and Africa, with Putin’s blessing. In addition to the yacht, federal prosecutors say, Vekselberg acquired $75 million worth of properties, including apartments on New York’s Park Avenue and an estate in the Long Island town of Southampton.

Vekselberg, who declined to comment for this article, has not been criminally charged by the Justice Department. In a 2019 interview with the Financial Times, he denounced the sanctions as arbitrary and harmful for international business, saying he had been targeted just because he was Russian and rich and knows Putin.

In April 2018, the Treasury Department under the Trump administration sanctioned Vekselberg and six other Russian oligarchs as part of broader financial penalties over the Kremlin’s invasion of Crimea, support for President Bashar al-Assad in Syria and interference in the 2016 U.S. presidential election. Vekselberg was also targeted for his work for the Kremlin as chairman of the Skolkovo Foundation, an attempt to create Russia’s version of the Silicon Valley — evidence that appeared to undermine the Russian businessman’s claims that he operated independently of the Kremlin.

But with Vekselberg’s payments monitored by U.S. banks, according to the federal indictment , Osipov used shell companies and intermediaries to avert the bite of sanctions. Vekselberg kept other major assets out of the reach of U.S. authorities by making use of the Treasury Department’s 50 percent ownership rule, which stipulates that it is illegal to transact with firms only if an owner under sanction controls more than 50 percent of the business.

For example, a month after Treasury imposed sanctions on Vekselberg in April 2018, his Renova Innovation Technologies sold its 48.5 percent stake in Swiss engineering giant Sulzer to Tiwel Holding AG, a group that is nevertheless still “beneficially owned” — meaning, owned in practice — by Vekselberg through Columbus Trust, a Cayman Islands trust, according to Sulzer’s corporate filing. Vekselberg’s longtime right-hand man at Renova, Alexei Moskov, replaced one of Vekselberg’s direct representatives on the board. Moskov told The Washington Post that he stepped down from all his executive positions at Renova Group in 2018 after U.S. sanctions were first imposed and from that moment ceased to be Vekselberg’s employee.

The attempts to circumvent the sanctions appear to have found some success in the U.S. legal system. Columbus Nova, a U.S.-based asset management fund controlling more than $100 million in assets in the U.S. financial and tech industry, is run by Vekselberg’s cousin, Andrew Intrater. The firm battled for more than two years to lift a freeze on Columbus Nova’s assets, imposed by Treasury’s Office of Foreign Assets Control because of the sanctions on Vekselberg, and won, reaching a settlement agreement with the Treasury Department. After renaming itself Sparrow Capital LLC, Columbus Nova successfully argued that Intrater — not Vekselberg — owns the fund. Intrater argued that the company was 100 percent owned by U.S. citizens and that no individual or entity under sanction held any interest in it. Intrater said Columbus Nova had earned fees for managing investment funds owned by Renova. He said he had repeatedly told Treasury he would not distribute any funds to Vekselberg.

Now Osipov, the alleged manager of Vekselberg’s $90 million yacht, is attempting a similar argument as U.S. authorities seek his arrest on charges of bank fraud, money laundering, conspiracy to defraud the United States, and violations of sanctions law.

The federal indictment states that the Tango was owned by a shell corporation registered in the British Virgin Islands that was in turn owned by several other companies. The Virgin Islands shell company, authorities say, was controlled by Osipov, who also served in senior roles for multiple companies controlled by Vekselberg. U.S. officials also say Vekselberg ultimately controlled the other companies that owned the Virgin Islands shell company.

According to the indictment, a Tango official instructed a boat management company in Palma de Mallorca, Spain, to use a false name for the yacht — “Fanta” — to disguise its true identity from U.S. financial institutions and firms, which try to avoid doing business with an entity or person under sanction.

Working at Osipov’s direction, according to the indictment, employees for Tango bought more than $8,000 worth of goods for the yacht that were unwittingly but illegally processed by U.S. firms and U.S. financial institutions, including navigation software, leather basket magazine holders provided by a bespoke silversmith, and web and computing services. The management company running Tango, run by Osipov, also paid invoices worth more than $180,000 to a U.S. internet service provider, federal prosecutors say.

The Tango was seized by the FBI and Spanish authorities in the Mediterranean not long after Russia invaded Ukraine in 2022, and Osipov was first indicted last year. The owner of the Spanish yacht management company hired by Osipov, Richard Masters, 52, of Britain, was criminally charged last year by federal prosecutors with conspiracy to defraud the United States and violating federal sanctions law. A request for comment sent to Masters’ firm was not returned.

But in recent court documents, Osipov’s attorney argues that the yacht was not more than 50 percent owned by Vekselberg, and that the government hasn’t demonstrated it was. Barry J. Pollack, an attorney at Harris, St. Laurent and Wechsler, also says the government never warned Osipov of its novel and “unconstitutional” application of federal sanctions law.

“The government points to no precedent that supports its extraordinary interpretation and cites no authority that allows the traditional rules of statutory construction to be turned on their head,” Pollack wrote in a defense filing. The filing adds: “[Osipov] is not a fugitive because he did not engage in any of the allegedly criminal conduct while in the United States, has never resided in the United States, did not flee from the United States, and has not concealed himself.”

Still, the State Department’s Transnational Organized Crime Rewards Program has said it will provide up to $1 million for information leading to Osipov’s arrest, warning that he may visit Herrliberg, Switzerland; Majorca, Spain; or Moscow.

The case demonstrates the extent of the U.S. commitment to tighten the screws on those seen as aiding Russian elites, even if they themselves are not closely tied to the Kremlin.

“When DOJ levels legal action against an individual or entity, they have quite a bit of evidence, especially because the threshold to press charges for money-laundering and sanctions evasion is so high,” said Kim Donovan, director of the Economic Statecraft Initiative within the Atlantic Council’s GeoEconomics Center. “We’ve had quite a bit of experience targeting Russia directly, and what you’re starting to see is the U.S. go after the facilitators enabling sanctions evasion. That’s where the U.S. is focusing its efforts right now.”

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