Billionaire sparks backlash after lavish behavior is revealed on social media: 'What arrogance'

At a time when so many have so little, millionaires and billionaires seem to have no trouble dropping major money on the most frivolous items. 

TikTok user Graham Stephan (@grahamstephan), a millionaire who offers advice on personal finance and living frugally, shared a video he captioned, "Grant Cardone's $20 MILLION Yacht."

@grahamstephan Grant Cardone's $20 MILLION Yacht #grantcardone #yacht #enesyilmazer ♬ original sound - Graham Stephan

In the video, billionaire Cardone describes his dream yacht, which he said "needs to be at least 240 feet" and cost $15-20 million per year to run.

Stephan then broke down the cost of maintaining the boat per day and per minute — $50,000 and $34, respectively.

Cardone's yacht goals did not amuse other TikTok users. 

"Here I am stressing about how I'm going to pay for my $250 utilities bill," one user commented. 

Another person sniped, "What arrogance."

The uber-wealthy may view yachts as status symbols, but for most, they're simply symbols of waste and a disregard for the environment. 

Yachts are among the most significant polluters on the planet, with superyachts like the dream vessel Cardone described being the worst of the worst. Despite there being only approximately 5,396 superyachts in the world, the top 300 most-polluting vessels produce around 285,000 tons of carbon dioxide per year, contributing greatly to the overheating of our planet. 

These massive ships are also built with a wealth of nonrenewable resources and consume an enormous amount of diesel, which further contributes to pollution. Additionally, yachts are known for creating noise and light pollution that disturbs marine life, releasing wastewater into the seas, and contributing to food and plastic waste.

Would you buy an EV made in China? Absolutely 👍 For the right price 💰 Depends on the EV 🚙 No way 🤨 Click your choice to see results and speak your mind.

While the yachting industry is taking steps toward sustainability by exploring alternative fuel sources, green water treatment systems, and incorporating more renewable resources into the construction of these boats, there is still a long way to go. 

Until these boats become more sustainable, people like Cardone and Mark Zuckerberg might want to rethink investing in these luxury items, though they'd likely still draw ire for gobbling up resources at a time when so many people are struggling to make ends meet.

Get TCD's free newsletters for easy tips to save more, waste less, and make smarter choices — and earn up to $5,000 toward clean upgrades in TCD's exclusive Rewards Club.