Home » World News » Crazy costs of Russian oligarchs’ enormous superyachts as ‘Putin’s yacht’ found
Crazy costs of Russian oligarchs’ enormous superyachts as ‘Putin’s yacht’ found
March 23, 2022
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Activists linked to jailed opposition leader Alexei Navalny allege a mysterious superyacht worth around £530 million belongs to the Russian president Vladimir Putin.
Navalny-linked activists – the Putin critic was jailed for another nine years on "trumped-up" charges this week – say yacht Scheherazade has no listed owner.
In a video on Navalny's YouTube channel, the activists alleged that half of the yacht's crew belong to the Federal Protective Service (FSO), which is the "agency that protects Putin and organises his life".
Scheherazade – the floating 'mini city' boasting its own theatre and gold toilet roll holders – is currently floating happily in Marina di Carrara in northern Italy.
Yachts have become one of the symbols of oligarch power as the Western world uses sanctions against the billionaires with alleged ties to the Kremlin.
Their enormous wealth allows them to have a huge influence, but also the financial might to spend on luxury items such as expensive cars, London townhouses a short walk from Buckingham Palace, and private jets.
So how much are oligarch yachts and how much do they cost to run?
How much do oligarch yachts costs?
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Superyachts like the ones owned by Alisher Usmanov and plush Solaris yacht can set a Russian billionaire back a healthy few hundred million.
Roman Abramovich's plush Solaris yacht is believed to have cost around £453 million.
Listed on Fraser Yachts, the 92-metre yacht from 2000, Tatoosh, will cost a staggering sum of £74m and was owned by late Microsoft co-founder Paul Allen.
Tatoosh comes with two helicopter pads, 11 staterooms that can accommodate 19 guests, a heated swimming pool, cinema and observation lounge.
Boats are incredibly expensive and one 13-metre yacht with a fairly basic interior will still cost around £300,000.
How much does it cost to run a yacht?
It is believed the running of a superyacht can cost a billionaire around £45m every year.
This, of course, depends on the size of the yacht, what it has onboard and the amount and type of crew it employs.
The figure relates to the yacht Azzam, which is 180 metres long and owned by Sheikh Khalifa bin Zayed bin Sultan Al Nahyan, the president of the UAE.
A report by UK-based broker Towergate Insurance suggests that a billionaire owner of a superyacht can expect to face running costs of around 10% of the original price.
Rupert Connor from Luxury Yacht Group told CNN Travel about the running costs of such an expensive operation.
He said: "A yacht is a very inefficient way to have fun. It's an incomprehensible amount of money to most of us, but thankfully there are people in the world who do it, and it supports this fabulous industry."
According to Business Insider, yacht captains can earn between £5,800 and £15,000 a month for being in charge of the operation, while a deck hand may earn around £2,500 a month.