Where are the billionaires playing these days? Corona del Mar, if one Redditor is right.
They posted photos of two superyachts off the coast of the well-known California beach. The original poster asked who owns them. If other Redditors are correct, they are both owned by billionaire Lorenzo Fertitta, the former CEO of Ultimate Fighting Championship.
The smaller yacht is basically a toy hauler for the people on the larger one, housing the helicopter, submarine, and more.
Entrepreneur reported that this is how Fertitta often travels — in case one superyacht wasn't enough. While superyachts may seem glamorous, they can cause a massive amount of pollution and disrupt marine life with the noise they generate.
Fortune explained that superyachts can emit more heat-trapping carbon per year than some small countries.
In fact, owning a superyacht might be the single most polluting action an individual can take. Oxfam International said the world's 50 richest billionaires account for more carbon pollution in roughly 1.5 hours than the average person does in their lifetime — with superyachts and private jets major factors, along with their investments.
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At least some of that pollution comes from the process of building yachts, so they are polluters even if they never leave the harbor.
While there's a lot to be done to clean up the yachting industry, greener technologies are emerging, including a solar-powered three-deck vessel, providing hope for the luxury industry.
Redditors seemed just as wary of the impact of these yachts as the OP.
"I remember seeing [the yachts] out in Moorea French Polynesia a few years ago. I thought it looked like something a James Bond villain would own," one said.
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Definitely 👍 "It's disgusting how rich these people are," someone else added.
"Where are orcas when we need em?" another joked.
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