A 465-foot megayacht worth an estimated $500 million has been approved for adventure in the Arctic Ocean — not as part of a scientific mission, but as a private expedition led by one of Russia's richest men, Luxurylaunches reported.
The vessel, named Nord, belongs to Alexey Mordashov, a steel magnate and billionaire who holds a majority stake in Russia's Severstal group. Nord was making its way toward the Chukchi Sea and the Wrangel and Herald Islands — a remote and ecologically sensitive region of the Arctic.
The area is hard to reach and is also a UNESCO World Heritage Site because of its biodiversity. Wrangel Island is home to polar bears, walruses, and rare migratory birds, Luxurylaunches noted.
The voyage means that Nord, a vessel built primarily for leisure and luxury, is heading directly into one of the most vulnerable natural habitats on the planet.
The trip was only made possible by a special permit issued in July by Russia's GlavSevmorput agency, The Moscow Times reported.
The permit allows the yacht to operate in Arctic waters through August and September. The Chukchi Sea remains ice-free for only part of the year.
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Mordashov's net worth was recently placed at $28.6 billion by Forbes. He bought the approximately 142-meter yacht Nord in 2020, and it spent much of its time in the Caribbean before Russia's invasion of Ukraine in 2022, according to the Times.
Luxurylaunches reported that this will mark the first time the vessel has flown the Russian flag in Arctic waters, and it comes after years of being mostly out of public view. Mordashov was sanctioned by the United States and European Union in 2022 and has had some of his assets frozen.
The Arctic is warming at a rate nearly four times faster than the global average, according to peer-reviewed research. As sea ice retreats and temperatures rise, ecosystems face pressure from both natural and human-driven activities. Heat-trapping pollution from humans is the major cause of temperature increases, and giant yachts are reportedly responsible for thousands of times the carbon pollution output of most people on the planet.
The purpose of the trip has not been made public, but Luxurylaunches reported that Mordashov will turn 60 in September. Research vessels and Indigenous communities usually navigate these waters with caution and purpose, in striking contrast to a luxury yacht designed for private enjoyment.
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