Lorenzo Fertitta reportedly buys $125 million super yacht

Bloodyelbow.com

There’s a growing trend from the ultra rich these days, where they purchase these massive ‘superyachts’ — not just regular yachts, ones that typically go well over a hundred feet in length, and is required to have a permanent crew. Billionaires keep throwing money into this growing industry and sales on these massive luxury crafts were up significantly in 2018.

Former UFC owner Lorenzo Fertitta is part of this elite club, and he reportedly just had his superyacht delivered, which is estimated to be worth $125 million.

The motor yacht named ‘Lonian’ is 285 feet (87 m) long, with a 45 foot (13.8 m) beam and will be run by a crew of 27 people. It has an “owner’s stateroom, four large guest rooms and two VIP staterooms” that can have 14 guests living luxuriously. According to the report, it also has a large pool, and will also have helicopter landing facilities.

It took three years to build the Lonian, and footage of the superyacht can be seen below:

Apart from its hefty price tag and the salaries of the permanent crew, superyachts are also very expensive to dock and maintain. It is estimated that owners have to pay 10% of the vessel’s value in upkeep each year, so Lorenzo’s Lonian could cost him at least $12.5 million a year to maintain.

Lorenzo’s brother Frank Fertitta III also seems to be enjoying the fruits of the UFC’s $4 billion sale, as he is also reportedly about to have his own superyacht delivered from the same company in the Netherlands. Temporarily called Project 817, Frank is expected to have a whopping 308 foot (94 meter) superyacht launched this year.

The Fertitta brothers Lorenzo and Frank is said to have previously owned a 194 foot (59 m) and 205 foot (62 m) respectively prior to having these much bigger ones built.

A superyacht is a symbol of extreme luxury, but doesn’t seem to be a good investment as it normally sits around all year and almost guarantees losing money on resale. That doesn’t seem to stop the Fertittas and the other ultra rich from constantly buying them though, because well, they can.

The Fertitta brothers also have an extensive art collection (which may be a far better investment than superyachts, as long as you don’t store them in there). In 2017, Frank was involved in a historic bidding war which made a $110M Basquiat the most expensive American artwork ever sold in auction.