superyachts

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Once-Richest Aussie Dumps His Playthings

With fortune halved by downturn, James Packer selling $50M yacht, postpones pool

(Newser) - The recession is forcing one of Australia's richest men to cut back on the playboy life, the Sunday Telegraph reports. James Packer, son of media mogul Kerry Packer, is selling his $50 million yacht, halting the construction of a $3 million pool complex at his family home, and pushing back...

When It Comes to Yachts, Size Does Matter

Wealthy owners compete for 'bragging rights' with superyachts

(Newser) - Billionaires have a new way to one-up wealthy neighbors: Buy a bigger yacht. Such jumbo boats confer "bragging rights,” one expert says. "No question, that’s a very strong part of the motivation.” And competition is riding a new crest: Four times as many superyachts, all...

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