A superyacht that was on the market for millions of dollars is now virtually worthless.
That's because the Ferretti-built H&CO crashed Feb. 11 against a rocky coast in stormy waters near Elafonisos, Greece, according to Boat International.
It's an example of how even the most expensive indulgences can't withstand increasingly unpredictable weather. The disastrous scene of the nearly 100-foot vessel breaking up has caught plenty of attention on news and social media sites.
An onlooker posted a clip of the wreckage on Instagram.
Fortunately, no injuries were reported, per Boat International.
"[What] was it doing out there," a Facebook user commented in a post about the wreck.
Ferretti is a well-known luxury yacht company based in Italy. Boat International reported that H&CO was delivered in 2022, sailing under the French flag. It was for sale for 8.6 million euros ($10.1 million) at the time of the crash, according to the story. Photos shared by the publication show a modern "airy" interior that would match any high-end apartment. It could carry 10 guests and had five cabins. It was made for "relaxation and adventure."
Superyachts are among the polluting toys that billionaires often use for travel. Oxfam International reported that the planet's 50 richest people, on average, produce more air pollution "through their investments, private jets, and yachts in just over an hour and a half than the average person does in their entire lifetime."
Every extreme weather event — including the choppy waters that were swirling around H&CO — can't be attributed to Earth's overheating. But fumes from jets, yachts, and other fuel-burning equipment contribute to warming that increases the chances for more extreme weather, according to NASA.
For their part, some billionaires are moving toward cleaner toys. Bill Gates was linked to a hydrogen-powered yacht equipped with an electric tender vessel. And other innovative shipbuilders are using recycled materials and solar power to provide for cleaner recreation.
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Save $1,000 this year 💸 But the billionaire calling cards often solicit awe from onlookers who notice the giant ships — and the helicopters and other vehicles that come in tow.
Oxfam suggested that more taxes or regulations be implemented to limit the impact of superyachts and other excessive polluters. Staying informed about how human action, even among the most wealthy, is impacting the planet can help you decide what policies to support and what companies are operating in ways that share your values. Your voice and buying power can make a difference.
The H&CO wreck remains under investigation. Boat International reported that the ship suffered a mechanical failure and was reported to be taking on water.
"Perfect storm," a Facebook user commented.
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