It was only a matter of time. In November, Indian billionaire Mukesh Ambani welcomed guests into his new 27-story Mumbai home, thought to be the world’s most expensive private residence with a $1 billion price tag.
Now, a UK yacht designer is giving the ultra-rich a chance to one-up Ambani by owning what is being described as the world’s first $1 billion yacht.
The 500-foot behemoth is called ‘Streets of Monaco’, and is actually modeled after the European principality, a haven for billionaires. On the top deck will be replicas of famous Monaco landmarks like the Monte Carlo Casino, Hotel de Paris, Cafe de Paris, La Rascasse, and Loews Hotel, as well as a fully functional go-kart circuit based on the Monaco Grand Prix race track. Other extravagant bells and whistles include multiple swimming pools, a swim-in Jacuzzi bar, a multi-use court for tennis and basketball, a ‘dance hall’, a spa with a hair salon, and enough space to accommodate 16 guests and 70 staff. And don’t forget the submarine and helipad.
There is, of course, no guarantee that ‘Streets of Monaco’ will ever make it into the water. First, a client with a big enough wallet needs to come forward. “This is just a concept at this point,” said Scott Poxon, director of Yacht Island Design, the firm behind the project. “That said, there is a notable amount of detail in place. It would need a commission in order to finalize design requirements of the client and to commence the construction.”
Poxon added that while various newspaper reports have estimated that ‘Streets of Monaco’ could cost £700 million ($1 billion), which would make it the most expensive yacht in the world, the firm has yet to discuss price. “We have not ever quoted any price as this would be agreed between the client and the selected ship yard and would vary significantly depending on specifications,” he said.
If an ultra-rich client indeed commissions his or her own floating replica of Monaco, it may be the most expensive yacht on the water, but it won’t be the biggest. That honor goes to Russian billionaire Roman Abramovich’s 557-foot ‘Eclipse’. For now, at least. As with Ambani’s Mumbai palace, billionaire homes and toys only get more extravagant each year.forbes.com