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US billionaire reveals shocking $450 million purchase: 'One of those things I always wanted'

"It is not cheap, I can tell you that."

Billionaire Tillman Fertitta's new Lürssen-built megayacht, the Boardwalk, is a $450 million investment with a $40 million annual operating expense.

Photo Credit: iStock

Billionaire restaurateur and investor Tilman Fertitta has impressed boat enthusiasts and alarmed environmentalists at the same time. 

His new Lürssen-built megayacht, the Boardwalk, was a $450 million investment with annual operating expenses of $40 million, according to Luxury Launches.

Fertitta acknowledged the monumental cost of this lifestyle, but still touted it as "one of those things I always wanted … It is not cheap, I can tell you that, but every time I walk on it I tell myself, 'God, I love this boat.'"

The normalization of megayacht culture is something the planet could never have prepared for. Fertitta's boat, among numerous other vessels docked and owned by rich socialites around the world, emits copious pollutants and greenhouse gases. 

The top 300 superyachts produce 285,000 tons of carbon dioxide. Social scientist Grégory Salle referred to the trend as "ecocide," suggesting megayachts caused "deep harm, harm that is lasting over time."

The Boardwalk features many typical amenities, including a swimming pool, gym, and helipad, and it serves as a floating home rather than a vehicle. Ships like this rarely reach top speed. 

The majority of megayachts remain docked, and their residents could choose to live on land in a less damaging way. Even though Fertitta claimed the purchase was essential for his lifestyle, others would call it "oppressive opulence."

In addition to relying on fossil fuels, megayachts produce light and noise pollution, which harms citizens' health and endangers marine habitats and wildlife

Yachts of similar caliber have been known to damage coral reefs and raise questions about the necessity of these displays of wealth. Concerned citizens, especially those living near shorelines increasingly dotted with yachts, can make a difference. 

Coastal communities can advocate for policy change to support the environment by pushing for restrictions and bans on boats exceeding a certain size. These efforts work, as seen in Naples, which successfully banned superyachts from its port.

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Industry workers can also instigate change from within, promoting the elimination of single-use plastics, the adoption of hybrid and renewable technologies, waste-reduction strategies, and conscious fuel management. 

Boats will always sail the world's seas, and while they do, everyone must contribute to make them as sustainable as possible.

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