russian yacht hong kong

US alleges sanctioned Russian oligarch’s niece made payments for his $300M yacht

The yacht, known as the Amadea, was seized by officials in 2022, with the U.S. alleging billionaire Putin ally Suleiman Kerimov is the ultimate beneficial owner.

U.S. authorities claim to be one step closer to proving a seized $300 million mega yacht is owned by sanctioned Russian Suleiman Kerimov, according to new court filings that detail alleged payments for the boat from the oligarch’s niece.

The yacht, a 348-foot luxury vessel known as Amadea, was seized in Fiji in 2022 by local officials at the request of the United States, as part of the Justice Department’s ongoing efforts to identify and seize assets of sanctioned Russian oligarchs in the wake of Russia’s 2022 invasion of Ukraine.

Kerimov, known for throwing lavish parties and for his reportedly close relationship with Vladimir Putin, was sanctioned by the U.S. in 2018. Britain and the European Union later followed suit.

• Recommended reading

US seeks to seize superyacht linked to Russian oligarch after its surprise arrival in Fiji

Apr 19, 2022.

US moves to seize yacht of prominent Pandora Papers-linked Russian oligarch

May 06, 2022.

US sanctions financial network and luxury planes linked to Russian oligarch Suleiman Kerimov

Nov 16, 2022.

However, since the Amadea’s seizure, another Russian oligarch, Eduard Khudainatov, who is not currently under U.S. sanctions, has claimed to be the yacht’s rightful owner — an assertion U.S. authorities deny.

Prosecutors allege that new documents show Kerimov’s niece, Alisa Gadzhieva, entered into a loan agreement with the company that owns the yacht, Errigal Marine Limited, and then made two payments to Khudainatov’s holding company, Invest International Finance Ltd, Intelligence Online reported .

“The United States takes sanction evasion seriously and will use all tools at its disposal to ensure that sanctioned individuals are held accountable for their crimes,” U.S. Attorney for the Southern District of New York Damian Williams said in an earlier statement . 

The ship belongs to an array of high-value luxury items linked to Kerimov, including private jets and sportscars, like a $650,000 Ferrari that Kerimov totaled in a fiery crash on the French Riviera in 2006. 

Want to know when we publish?

Help us change the world. Get our stories by email.

The yacht’s seizure followed ICIJ’s Pandora Papers, which included revelations on the offshore financial empire of Kerimov and his closest associates. The investigation showed billions of dollars flowing through opaque offshore shell companies associated with Kerimov, and covert money flows tied to oligarchs and others close to the Kremlin. It also highlighted offshore professionals who have helped oligarchs secretly buy luxury assets like yachts and jets.

Gadzhieva’s brother, Kerimov’s nephew Nariman Gadzhiev, is also under U.S. sanctions for allegedly serving as an assistant and financial facilitator for Kerimov. ICIJ’s reporting showed that, in 2012, a firm registered in Gadzhiev’s name worked with Credit Suisse to secure a $67 million loan for the acquisition of a custom-built Boeing 737 Business Jet as well as a Bombardier Global Express jet. A few years later, an article in Forbes Russia described Kerimov as owning the same kind of Boeing jet.

The Amadea, which is currently in U.S. custody, has already cost over $7 million in taxpayer funds to maintain while the legal battle plays out, The Guardian reported.  

Superyacht struggle: Is Hong Kong now safe harbor for sanctioned Russians?

HONG KONG — A superyacht linked to a Russian oligarch has produced the latest ripple of tensions between the U.S. and China after it moored in Hong Kong’s harbor.

Nord, a $500 million vessel connected to sanctioned tycoon Alexey Mordashov , has been docked in the city since last Wednesday after it made the weeklong journey from the Russian city of Vladivostok. 

Measuring 464.6 feet, it has two helipads, a swimming pool and 20 cabins, as well as a gym, a sauna and a cinema.  

Hong Kong said Tuesday it would not seize the superyacht, defying Washington and raising fears that the global financial hub could become a haven for people sanctioned over the war in Ukraine .

Mordashov, one of Russia’s richest men, was sanctioned by the U.S., the United Kingdom and the European Union in February, days after Russia invaded Ukraine. His company, Severstal, did not immediately respond to a request for comment about the Nord.

Hong Kong’s leader, John Lee, said Tuesday that the city had no legal basis to act on a Russian oligarch’s superyacht in the city. 

“We will comply with United Nations sanctions,” Lee said at a news conference. “We cannot do and we will not do anything that has no legal basis.”

Russia, a permanent member of the United Nations Security Council , has vetoed all attempts to take action on Ukraine, which could include sanctions against people like Mordashov. 

The State Department said in a statement Monday that it would “strongly encourage all jurisdictions to take actions under their domestic authorities to help implement sanctions imposed by the United States and more than 30 other countries.” 

It added that “Hong Kong’s reputation as a financial center depends on adherence to international laws and standards” and that “the possible use of Hong Kong as a safe haven by individuals evading sanctions from multiple jurisdictions further calls into question the transparency of the business environment.”

U.S. and European authorities have seized over a dozen yachts belonging to sanctioned Russian tycoons to prevent them from sailing to other ports that are not affected by the sanctions. So Russian oligarchs have begun docking their yachts at ports in places like Turkey , which has maintained diplomatic ties with Russia since the war began.

However, some experts predict that China will not stop Russians sanctioned by the West from registering in Hong Kong as the once strong financial hub struggles to compete in the global market, leading to fears that it will become a safe haven for Russian oligarchs trying to evade Western sanctions.  

“China is trying to restore and rebuild investors’ interest in Hong Kong,” Yun Sun, the director of the China program at the Stimson Center, a nonpartisan think tank in Washington, said by email Tuesday.

The most important consideration for Hong Kong’s authorities will be whether the city’s banks will be denied access to the U.S. financial market as a result, she said.

“Secondary sanction is more a practical matter rather than a legal or moral matter, as Hong Kong banks handling Russian transactions could be sanctioned,” Sun added. “That is the most important consideration for Hong Kong.”

China’s Foreign Affairs office in Hong Kong accused the State Department in a statement Monday of “smearing” the city's business environment. It also referred to a statement its Marine Department issued Sunday, which said that Hong Kong’s “reputation and status as an international financial center are globally recognized” and that the city maintained a “free, open and law-based business climate.”  

Lee laughed off U.S. sanctions Tuesday, calling them “barbaric.” He was himself sanctioned by the U.S. in 2020 for his role in implementing a national security law that has been criticized by the U.N. -appointed human rights committee and rights organizations.

Chinese and Hong Kong officials have repeatedly said the law was vital to restore stability after the city was rocked for months by sometimes violent anti-government and anti-China protest s in 2019.

It is unclear how much Russian money has flocked to Hong Kong because of Western sanctions. The Hong Kong Marine Department did not respond to a request for comment on the number of Russian yachts in its harbors. 

China has not backed global sanctions against Russia, and President Xi Jinping has said little about the conflict in recent months. However, officials have repeatedly urged “all parties” involved in the war to engage in diplomatic negotiations . 

“We will have to see how much money eventually flocks to Hong Kong and how they are being handled in order to assess the impact on U.S.-China relations,” Sun said.

• Work & Careers
• Life & Arts

US warns Hong Kong over oligarch’s superyacht docked in its waters

Keep abreast of significant corporate, financial and political developments around the world. Stay informed and spot emerging risks and opportunities with independent global reporting, expert commentary and analysis you can trust.

Try unlimited access Only $1 for 4 weeks

• Then $75 per month
• New customers only
• Cancel anytime during your trial

Keep reading for $1

Explore our subscriptions

Find the plan that suits you best.

Professional

Premium access for businesses and educational institutions.

• Get Started

Check if your university or organisation offers FT membership to read for free.

672 Wine Club

• Motorcycles
• Car of the Month
• Destinations
• Men’s Fashion
• Watch Collector
• Art & Collectibles
• Vacation Homes
• Celebrity Homes
• New Construction
• Home Design
• Electronics
• Fine Dining
• Benchmark Wines
• Brian Fox Art
• Disneyland Resort
• Ka La’I Wakiki Beach
• Kalamazoo Grill
• Raffles Hotels & Resorts
• Sports & Leisure
• Health & Wellness
• Best of the Best
• The Ultimate Gift Guide

A Russian Oligarch’s $500 Million Megayacht Just Mysteriously Arrived in Hong Kong

The lürssen vessel nord is connected to the third-richest man in russia., tori latham, tori latham's most recent stories, the shipyard that built the ‘titanic’ has filed for bankruptcy.

• Inside MXO, the Mexican Steakhouse From a Pioneer of L.A.’s Taco Scene
• Con Air? The U.S. Launches Investigation Into 4 Major Airline Loyalty Programs
• Share This Article

Ever since Russia invaded Ukraine earlier this year, authorities have been keeping an eye on the megayachts owned by Russian oligarchs and allies of Vladimir Putin. One such vessel just mysteriously turned up in Hong Kong.

Related Stories

• SpaceX’s Polaris Dawn Mission Returns Safely to Earth After Its Record-Breaking Flight

This New Catamaran Concept Was Designed to Carry Your Bugatti Across the High Seas

The 465-foot Lürssen vessel in question, which contains two helipads, a cinema and 20 luxury cabins, left Vladivostok on September 27 and was initially headed for the Vietnamese port of Da Nang. However, it soon changed its route to Hong Kong and has been anchored there since Wednesday night, according to Bloomberg. It has also changed its flag from the Cayman Islands to Russia. A spokesperson for Mordashov told the publication that he was currently in Moscow and declined to comment on the yacht’s movement.

Since Putin began his war in Ukraine in February, more than a dozen yachts owned by Russian oligarchs have been seized by Western governments as a form of punishment for the owners having ties to the Russian president. In total, the seized yachts add up to more than $2.25 billion, and others have been immobilized in ports and naval yards across Europe.

The US has even formed a special task force, KleptoCapture, to go after Russian billionaires’ assets. Earlier this year, the unit helped seize Amadea , a $325 million superyacht supposedly owned by the gold tycoon Suleiman Kerimov.

To evade capture, some yacht owners have moved their vessels to the sanction-free waters of Russia and Turkey. But now that Mordashov’s Nord has turned up in Hong Kong, it’s unclear what will happen to it. One thing’s for certain, though: Despite its considerable size, the 465-footer is proving to be quite elusive.

Tori Latham is a digital staff writer at Robb Report. She was previously a copy editor at The Atlantic, and has written for publications including The Cut and The Hollywood Reporter. When not…

Read More On:

More marine.

Meet Spitfire, a New 164-Foot Superyacht Based on a High-Performance Patrol Boat

What It’s Like to Watch an America’s Cup Race Right on the Water

Meet the Wine Club That Thinks Differently.

Receive editor-curated reds from boutique California producers four times a year.

Give the Gift of Luxury

Latest Galleries in Marine

Spitfire Superyacht in Photos

The AX/E 22 and AX/E 25 in Photos

More from our brands, the 14 best baggy jeans and how to wear them now , shannon sharpe defeats brett favre in defamation suit appeal, emmys viewership jumps by 54% to 6.9 million viewers after record-low ceremony in january, a new edition of john elderfield’s ‘frankenthaler’ shows an artist with real new york chutzpah, the best yoga mats for any practice, according to instructors.

A $500 million superyacht anchored near Hong Kong reveals the world’s unwillingness to enforce the U.S.’s ‘heavy-handed’ sanctions against Russia

Hong Kong is captivated by a 466-foot-long superyacht anchored one-and-a-half miles off the city’s shoreline. The $500 million yacht named Nord , reportedly owned by sanctioned Russian billionaire Alexei Mordashov, floats in plain view in the city’s harbor. 

The superyacht—the length of one-and-a-half football and featuring a helicopter hangar and swimming pool—has become the latest flashpoint in Hong Kong’s relations with Western governments. The U.S. is warning that the Chinese city’s tolerance of the Nord threatens its status as a financial center, while Hong Kong’s (U.S.-sanctioned) leader is saying officials will “ laugh off ” Western threats. 

But the Nord ’s presence in Hong Kong shows a weak spot in the sanctions the West has levied against Russian individuals and companies—namely, that much of the world is still able, if not willing, to let Russians in. 

“The West’s impressive unity on the sanctions front has so far not been met with similar enthusiasm among most non-Western states, particularly in Asia and Africa,” including many governments that have condemned Russia in the United Nations General Assembly, says Ryan Mitchell, a professor of international law at the Chinese University of Hong Kong .

Many non-Western countries have pre-existing economic ties with Russia, which means sanctions present a “relatively greater cost,” Mitchell says. Countries throughout the world continue to rely on Russian commodities and goods or hope to attract spending and investment from Russian individuals and companies. That means many non-Western countries, including many that sympathize with Ukraine’s plight, are unwilling to accept economic pain to support the U.S. position on sanctions.

Sitting off the coast

The Nord first arrived in Hong Kong last week, when eagle-eyed observers noticed that the yacht had anchored on the western end of Hong Kong’s Victoria Harbor.

At first, Hong Kong authorities gave a muted response to the yacht’s presence in the city. The local marine department said it would not , and in fact could not, enforce “unilateral sanctions imposed by other jurisdictions” like the U.S., while stating that the city would cooperate with sanctions imposed by the United Nations Security Council.

The city’s rhetoric has hardened since then, as the yacht became another source of tensions between the U.S and Hong Kong (and, by extension, mainland China).

The U.S. accused Hong Kong of acting as a “safe haven” for those trying to flee sanctions, which “further calls into question the transparency of the business environment.”

In response, China’s foreign ministry called the U.S. comments “ misleading .” A spokesperson said that “Hong Kong’s reputation and status as an international financial center are globally recognized and brook no vilification.”

On Tuesday, Hong Kong Chief Executive John Lee said the city would not enforce Western sanctions on the Nord yacht. Lee, whom the U.S. government sanctioned over his role in the city’s crackdown on social unrest in 2019, said officials would “laugh off the so-called sanctions,” and called other U.S. measures towards Hong Kong officials a “barbaric act.”

In Mitchell’s view, Hong Kong has little choice but to openly refuse U.S. requests to enforce sanctions. The city “acknowledging the legitimacy of unilateral sanctions (i.e., those by one or more states acting outside of UN mechanisms) would contradict a key pillar of China’s views on international law and its enforcement,” Mitchell says. Beijing argues that Western sanctions against Moscow are illegal and counterproductive and has said it would continue to engage in “ normal trade cooperation ” with Russia.

That stance toward Western sanctions may encourage Russian individuals and companies to regard Hong Kong as a safe spot to park assets and raise capital. Russian companies are already inquiring about the possibility of basing operations in Hong Kong, including changing their registration or listing on the city’s stock exchange, reports Bloomberg . 

Yet banks in Hong Kong may be wary of engaging with Russian organizations, despite the city’s official refusal to enforce U.S. sanctions. The U.S. could impose secondary sanctions on companies or individuals that, in its view, help blacklisted entities evade sanctions, effectively barring banks from the U.S. dollar-based financial system. 

Even Beijing is concerned about the threat of secondary sanctions, with state-owned companies scaling back their presence in Russia for fear of U.S. regulatory scrutiny. 

Not just Hong Kong

While other countries may be less overt than Hong Kong in declining to enforce sanctions, “various other jurisdictions” have adopted the same position, says Mitchell. 

Russians have flocked to the United Arab Emirates, and specifically its financial hub of Dubai, to escape the scrutiny they face in places like Europe. Two Russian yachts popped up in Emirati ports in June this year. Russians snapped up property , and trading firms dealing in Russian commodities opened offices in Dubai to avoid European sanctions sanctions.

Officials in U.S. President Joe Biden’s administration have, at times, shown frustration with the UAE’s defiance of sanctions on Russia. “I am not happy at all with [the UAE’s] record at this point,” said Barbara Leaf, Biden’s top Middle East diplomat, in a June congressional hearing, adding that the White House plans to “drive a better alignment, shall we say, of effort.”

Yet the UAE appears to be quite comfortable with its neutral status. On Tuesday, Russian President Vladimir Putin praised the country after talks with UAE president Sheikh Mohamed Bin Zayed Al Nahyan. Putin said the UAE’s neutral position “allows us to use your influence for moving toward resolving the situation” in Ukraine. 

Other countries throughout Asia have hesitated to isolate Russia entirely. India continues to purchase Russian energy and weapons, with Indian foreign minister Subrahmanyam Jaishankar blaming the West’s refusal to sell arms to India as the reason for New Delhi’s “long standing relationship with Russia.”

Western allies are still engaging with Russia, too. Turkey, a member of NATO, has refused to join the West’s sanctions against Russia.

And even Japan, which sanctioned Russian banks and froze the country’s foreign reserves alongside Western nations, has wavered on abandoning Russia completely. Japanese companies have maintained a presence on Russian energy projects, like the Sakhalin-1 and 2 gas refineries in the country’s far east. Japanese carmaker Nissan only left the Russian market on Tuesday, seven months after the Ukraine invasion began.

Global resistance to completely isolate Russia is a stumbling block for Ukraine’s allies as they try to maintain economic pressure on Moscow and end the invasion. New sanctions would mean persuading more countries, already skeptical of sanctions, to do even more. 

“Many view U.S. sanctions practices in general as overly heavy-handed,” Mitchell said. 

Sign up for the  Fortune Features email list so you don’t miss our biggest features, exclusive interviews, and investigations.

Mark Cuban says he’s not going through a midlife crisis but would buy X and Fox News if he could

MLB players sue DraftKings for allegedly using likeness without consent

Threats tied to Trump’s false pet-eating claims force Ohio festival cancellation

Murdoch media empire’s future hangs in the balance at secret Nevada hearing

Goldman Sachs says to buy the dip in AI

Actor Kate Winslet touts testosterone replacement therapy (TRT) for low sex drive in women. Here’s what it means

Most popular.

Protecting a billionaire CEO costs millions. Here’s how the world’s biggest companies measure up

Elon Musk faces moment of truth in Europe as buyers turn their backs on Tesla

China’s startup scene is dead as investors pull out—’Today, we are like lepers’

The top 4 states where the most young and rich Americans are moving to

Michael O’Leary calls Wetherspoons chief’s bluff by pledging a 2-drink limit on Ryanair flights ‘tomorrow’ if pubs follow

Young British men are NEETs—not in employment, education, or training—more than women

$500M Yacht Owned by Russian Billionaire Docks in Hong Kong Amid Sanctions

The super yacht, which sails under a russian flag, could be a target to be seized by western governments, by associated press • published october 7, 2022 • updated on october 7, 2022 at 3:52 am.

A superyacht connected to Russian tycoon Alexey Mordashov has anchored in Hong Kong this week amid moves by Western governments to seize yachts connected to sanctioned Russian businessmen.

The megayacht Nord, worth over $500 million, arrived in Hong Kong on Wednesday afternoon after traveling for over a week from Vladivostok, Russia , its last port of call.

📺 24/7 South Florida news stream: Watch NBC6 free wherever you are

Mordashov is one of Russia’s richest billionaires, with an estimated wealth of over $18 billion according to an estimate by Bloomberg. He is the main shareholder and chairman of Severstal, Russia’s largest steel and mining company.

He was sanctioned by the U.S ., the United Kingdom and the European Union in February after Russia invaded Ukraine. Mordashov has since attempted to challenge the sanctions against him in European courts.

The Hurricane season is on. Our meteorologists are ready. Sign up for the NBC 6 Weather newsletter to get the latest forecast in your inbox.

U.S. and European authorities have seized over a dozen yachts belonging to sanctioned Russian tycoons to prevent them from sailing to other ports that are not affected by the sanctions. Russian oligarchs have begun docking their yachts at ports in places like Turkey, which has maintained diplomatic ties with Russia since the war began.

The Nord, which measures 141.6 meters (464.6 feet), has two helipads, a swimming pool and 20 cabins. The yacht is currently sailing under a Russian flag.

This article tagged under:

Megayacht sparks warnings Hong Kong could become Russia haven

Hong Kong (AFP) – The recent visit of a Russian megayacht to Hong Kong has sparked warnings from corruption investigators that the city could become a haven for oligarchs and officials hiding from Western sanctions.

Issued on: 25/10/2022 - 04:18 Modified: 25/10/2022 - 04:16

The Nord -- a $500 million vessel linked to Russian billionaire Alexei Mordashov -- spent a little over three weeks in the Chinese territory before leaving last Thursday.

Mordashov is among tycoons close to Russian President Vladimir Putin who have been sanctioned by the United States, the European Union and Britain following Moscow's invasion of Ukraine.

Multiple jurisdictions have seized Russian oligarchs' yachts and other assets this year. But Hong Kong made clear it would not do the same, saying it only implements United Nations sanctions, not "unilateral" ones.

That prompted a rebuke from Washington that Hong Kong's reputation as an international business hub could be damaged.

But Maira Martini, a corrupt money flows expert at Transparency International, said the city has long been a useful jurisdiction for those "wanting to hide assets and launder dirty money".

She cited Hong Kong's "easy incorporation of shell companies that can be used to layer funds and obscure the real owners".

"The government's recent declaration that it has no interest in implementing sanctions makes Hong Kong an even more enticing option for Russian elites," she told AFP.

Hong Kong is increasingly taking its cue from Beijing, a key ally of Moscow, said Anthony Ruggiero, an expert on nonproliferation at the Foundation for the Defense of Democracies.

"I think at this moment and level, we have to treat Hong Kong really as China when it comes to their willingness to cooperate on proliferation, or in this case, the willingness to cooperate on pressuring Russia," he told AFP.

City leader John Lee and other senior officials are themselves blacklisted by Washington for their role in a crackdown on political freedoms.

Shell companies

A major part of Hong Kong's appeal is how easy it is to set up companies -- about 1.4 million businesses are domiciled in the city.

Directors do not need to live there and companies can register addresses via secretarial businesses making it easier to mask true ownership.

The Panama Papers in 2016 exposed how crucial front companies in Hong Kong were for those wanting to hide wealth and avoid tax.

Businesses registered in Hong Kong have also repeatedly appeared on US and other sanctions lists.

Companies helping North Korea evade sanctions were cited by the Treasury and United Nations experts in 2017 and 2018.

More recently the focus has shifted to Iran.

Last month the Treasury named 10 companies allegedly involved in helping Iran sell petroleum products, mostly to China. Three were based in Hong Kong.

When AFP checked their filings with the city's Companies Registry, all were registered to secretarial company addresses.

Two had directors who were Indian nationals, the other was owned by a Dominican Republic national living in China's Zhejiang province. Very little other public data was available.

'Plenty of competition'

Ruggiero, a former US national security advisor, said he expects Moscow to "unleash a network of front companies" around the world as Western sanctions gather pace.

"The Russians have expertise in doing this," he said. "They're probably going to be better at it than North Korea and Iran -- and North Korea and Iran are pretty good at it."

David Webb, a Hong Kong activist investor, said the city will have "plenty of competition for being a safe haven, including Dubai and Singapore".

Nonetheless banks, law firms and other businesses that rely on access to international markets will still be wary of Russian clients lest they face scrutiny.

"Financial institutions that have a United States or European nexus will need to assess their compliance in view of any relevant domestic sanctions," Syren Johnstone, from the University of Hong Kong's law school, told AFP.

Igor Sagitov, Moscow's consul general in Hong Kong, said Russians were already facing difficulties.

"Some foreign financial institutions, insurance and transport companies based here discriminate Russian companies or nationals, even if they are not on the sanctions lists," he told AFP.

But Sagitov was optimistic that the city remained a good place for business.

"When the trade volume between Russia and China is growing rapidly, Hong Kong can for sure benefit," he said.

Asked about Mordashov's megayacht, he said Moscow "appreciates the approach the Hong Kong government has taken".

"This approach is based on the rule of law, and not on the law of some imaginary rules."

The content you requested does not exist or is not available anymore.

Every product is independently selected by editors. Things you buy through our links may earn Vox Media a commission.

• What Life Might Look Like on the World’s Biggest Yacht

On a Tuesday morning in September, a six-foot-long plastic model of a boat sat on the second floor of the Explorers Club, looking a little like a beached Orca, sleek and out of place in the tweedy boardroom. The tiny yacht had traveled to East 70th Street from Los Angeles and, before that, made stops in Monaco and Zurich, Cannes, and West Palm Beach — a prop to entice buyers who can spend $10 million on a cabin in the world’s biggest yacht. If it gets made. The boat will be called the Ulyssia and it’s the passion project of Frank Binder, a billionaire from the Merck clan with a thing for boats (he once owned a shipyard in Monaco). Lenny Kravitz, his friend, is onboard to help design interiors. (“He’s a genius.”)

Binder has been doing a world tour to find other buyers — who might be hard to meet. Maintenance hovers around 3 percent a year, or $300,000 for that $10 million one-bedroom. It’s a big ask, especially for a boat that, if he does get recruits, won’t launch until 2028. To help, Binder brought on two former executives from the World , the luxury liner that was the first — and only — to prove rich people want to live … at sea, all year. (It launched in 2002, is still sold out, and has yet to snag on an iceberg or go bankrupt.)

Renato Chizzola , a senior vice-president for the Ulyssia who worked as the general manager of the World for five years, spoke to Curbed about the terrors of elephant seals and why he once hired Israeli snipers to come onboard.

This interview has been condensed and edited for clarity. 

What did your job on the World look like?? 

I was in charge of lifestyle, expedition, everything — even the kitchen. You have a captain who’s the master of the vessel, and he ultimately will have the last word on safety, security, where we go, where we can’t go. But then you also need to have somebody who has grown up in a galley carrying luggage. I’m 60 in October. When I was 27, I said, “Okay, how can I see the world without having money?” So in 1993, I was hired on the Queen Elizabeth II , then went to hotels, cruises, and in 46 years I traveled to 186 countries. I was allowed to live onboard and basically extend any service, any dream that a resident had.

What’s the difference between this superyacht and the World ? 

The World is now 23 years old. She was created in the late ’80s. She looks like a cruise ship. And the  Ulyssia is a yacht — the designer says this is his masterpiece.

We never had many amenities on the World . Here, we have a deli. We have a library with a card and games room. We have a table-tennis room. We have two paddle-tennis courts all inside, a multipurpose sports deck up there where the helicopters are, two hangers, two submarines to go down to the ocean, seven restaurants.

Then, we have this inflatable marina off the back of the boat. Imagine we’re near Bermuda. It’s a beautiful day. The sea is calm. We stop and we inflate this — it takes an hour — and we have tenders. You can go diving right there off the ship. The sea is yours. This marina is something the World could never ever have done, because there’s no space in the boat to keep that. The World was more elderly, a bit elderly retired. This is way younger. Why? Because we have so many amenities and offer adventure. Here, we are offering fewer apartments with more space. The balconies are huge. Luxury, for them, means space, time and getting whatever they wish, whenever, wherever. Freedom.

Freedom , in a contained location — 

Yes, and in a safe environment, completely protected against any danger. If a resident says, “I want to bring my family there, I want to be safe, I want to have no worries,” safety needs to be core to us. They want the freedom to do what they do at home — to run around with suits, jewelry. And if they are smart enough to say, “I want to go and see real scenarios, not luxury hotels,” they can go places where there’s no luxury and see how the world really works. That’s what this community wants.

Sounds like a security nightmare. 

We will hire ex-Mossad physically, to be on the ship. On the World , we partnered with Marine Guard, one of the world’s best safety and security companies . It provides technical and physical support. And whenever we went to critical places — for example, when we went through the Gulf of Aden, I brought in Israeli snipers to come on the boat. Nobody, no pirate on earth can come in past them. Then on shore excursions, we have every form of security that you can imagine. Satellite images. Images underwater, over water. When we went to Antarctica, to the Northwest Passage — meeting with the Inuits, the Aborigines — you need people who know them. You need people who safeguard you. In the Antarctic, you are only allowed to go with Zodiacs to the beaches. You need people who know that, who know the sea lions, the penguins. We bring them onboard — 20 or 25 people who know everything about every area. And when we do expeditions, we bring on EYOS, one of the greatest expedition leaders in the world, which goes to places like the Titanic .

Is this, like the Titanic , experimental in any way?

No, there are similar yachts. But in four years, when she will hopefully leave port, she will be the greenest yacht of this size ever built. And at that time, we may build for whatever is available in terms of fuel, whether it’s methanol or nuclear. There are vessels already going nuclear, military vessels.

But isn’t this all risky? 

It’s the opposite. You will see more and more environments like this at sea. Why? Because you can escape anything! If there’s an outbreak in New York, a big virus, you just won’t go there. If there’s a war there, you just don’t go there. If there’s a storm, you don’t go there.

So this will be a way for the global elite, basically, to pay to avoid any problem.

Is it going to be a one percent community? Yes, obviously, but they need to do good around the world, otherwise they cannot come to the community.

Imagine the following. We will have a medical center onboard. We have MRI machines. We have a dentistry. Our doctors, when we go to the west coast of Africa, to Senegal, we can have our doctors go out and help. And as we go around the world, we will help to map the ocean floor. We’ll have tools available to measure and send these to oceanic institutions that then take this data. So we are helping to make the world a better place. And that’s the legacy.

How are you going to gauge whether the people who want to live here also want to do good? 

There’s a very tough background check before being allowed to buy. So can it be that a Colombian drug lord or a Russian weapons dealer comes and says, “Oh, I’m going to take ten?” No, that can’t happen. We’re not a community for people from mainland China who don’t speak English and want to spit around. Or aggressive Russians. We are not a community for sheikhs from any Arab countries. And I have nothing against the Chinese and Russians. I love everybody. I’ve been everywhere. But they just don’t fit here, and they won’t come. We want like-minded golf players, tennis players, joggers, bikers, F1 drivers.

We will have roughly 30 to 35 percent Europeans, 30 to 35 percent North Americans, including from Canada, possibly a few from Mexico City, a few from São Paulo. Then we have about 20 percent from Australia, South Africa, Singapore, Hong Kong, Japan. Then we expect to have about 10 percent of people from all over, we don’t know where. It could be anywhere.

They’ll need a certain amount of money to get into this boat and I assume, therefore, that you can’t be that picky. 

No, we can’t. But we try to be. It’s a balance. We meet them three, four, five, six times. We invite them, show them something, then they say, “Oh, I trust these people. I believe in them.” It’s a slow process.

Can a buyer get kicked off?

Oh, absolutely.

What’s the justice system?

There’s a board that’s voted in and we have our chairman on the board. Almost all of the members are people who have either been on yachts, have their own yacht, or have led organizations.

If people have their own yachts, why would they sign up for this? 

They might have a beautiful yacht of a hundred meters, but they can’t hire all these education guides, explorers all the time. We have 22 guest suites. Imagine we’re coming to Japan. Blossom season. We bring an ex Japanese prime minister onboard, maybe a three-star Michelin chef. We bring them on, let’s say, three weeks before. And they lecture. We can have experts speak about anything. Volcanoes, health and wellness, food and beverage, politics, archeology.

And they have you, who’s been to 186 countries. 

Exactly. So when I do speak to people who want to buy and invite them for lunch or a coffee, they listen because they know, Oh, this guy has been there. You don’t need to tell them something that you think can happen. You can actually tell them a story. When I went to Antarctica the last time, in 2009, on the way back to the Zodiac, I am walking and these big elephant seals — those are the big guys, like three tons and ten feet long — and all of a sudden, out of nowhere, there’s a big sound like MWUGHOWUGH and a big one came up, out of the sand. I stood there frozen. These are moments when you think, Is this really happening to me? How fortunate, how lucky am I to be able to experience moments like this? And all the wealthy people say the same.

• rich people
• the global elite

Most Viewed Stories

• In the Shack With Robert Caro
• The Billionaire vs. the Old Money
• Where Sarah Jessica Parker and Simon Doonan Got Their Ribbons
• Everyone Knew About the A-Team  
• So Far, the New Broker-Fee Rules Are Good for Sellers
• Rumaan Alam Moved to New York With a Bottle of Acqua di Giò and $300

Editor’s Picks

Most Popular

What is your email.

This email will be used to sign into all New York sites. By submitting your email, you agree to our Terms and Privacy Policy and to receive email correspondence from us.

Sign In To Continue Reading

Create your free account.

Password must be at least 8 characters and contain:

• Lower case letters (a-z)
• Upper case letters (A-Z)
• Numbers (0-9)
• Special Characters (!@#$%^&*)

As part of your account, you’ll receive occasional updates and offers from New York , which you can opt out of anytime.

We've detected unusual activity from your computer network

To continue, please click the box below to let us know you're not a robot.

Why did this happen?

Please make sure your browser supports JavaScript and cookies and that you are not blocking them from loading. For more information you can review our Terms of Service and Cookie Policy .

For inquiries related to this message please contact our support team and provide the reference ID below.