Yacht Vacations & Charters Magazine’s editor-at-large reports: Ever since Larry Ellison agreed last week to an unusual settlement to end the “derivative lawsuits” against him resulting from insider trading allegations dating back to 2001, a settlement which will cost $122.5M, the megayachting world has been abuzz with speculation as who could afford to buy the 452-foot Rising Sun megayacht from him – the world’s largest yacht – and maybe help defray some of that expense.
Bigger even than Microsoft cofounder Paul Allen’s massive 414-foot Octopus, Rising Sun made her first visit to the South of France in May 2005 during the Cannes Festival and just prior to the Monaco Grand Prix and has been mentioned in the same breath as steel magnate Lakshmi Mittal, owner of a $128M home in London and steel mills in 12 countries, including the U.S., Canada, Mexico, France, Germany, Kazakhstan, Romania and Algeria.
The Yacht was build by the Lürssen Shipyard, Germany, and has 4 MTU 20-cylinder diesel engines, each developing 12000 hp. The reason for the sale is rumored to be the dearth of berths for a boat as big as the Rising Sun, which is simply too large to dock at an island resort like St Barths.
Doubtless rumors as to who will buy the Rising Sun will continue to circulate at this week’s 15th annual Monaco Yacht Show, which claims to be the only international yacht show devoted exclusively to luxury yachting and which takes place September 21-24, 2005 at Port Hercules in Monaco. YV&C’s staff are already there and their news reports and blogs can be found daily at Yacht Vacations & Charters Magazine’s web site.