In the Mediterranean every summer, the world’s richest vacationers transform luxury yachts into highly customized playgrounds, whether they own them or not. Jeff Bezos has been seen cruising the Balearic Islands aboard his 417-foot sailing yacht, ‘Koru’, since its debut in 2023, while the 466-foot ‘Dragonfly’ yacht, delivered in 2024, has been making appearances along the French Riviera. Meanwhile, the ship’s charter remains quite visible: Beyoncé and Jay-Z have taken frequent vacations aboard the 450-foot “Flying Fox” off Ibiza in recent years, and Kim Kardashian used the 241-foot “Naia” as a floating base during the Monaco Grand Prix in June 2026.
Owning a luxury yacht may be the ultimate symbol of wealth, but even among the 0.1% of people who can afford a luxury yacht, the purchase is not always ideal. Instead, a growing class of billionaires is choosing to charter these ships, dipping in and out of the lifestyle for a few weeks each year without attaching themselves to ownership.
Burgess Yachts International said yacht charter bookings in its fleet were up 6.5 percent year-on-year, while retail charter bookings were up 15 percent. Fraser Yachts, which handles a portfolio of yachts worth more than $7.4 billion, said earlier this year that Last-minute charter flight bookings are on the rise, Also, pointing to flexibility as a key motivator.
“Chartering has traditionally been something someone did before buying,” George Gusma, president of the Italian yacht brokerage group in Florida and New York, told the Observer. He noted that both chartering and ownership are growing rapidly, especially in the superyacht sector, which generally includes fully equipped luxury vessels that are at least 79 feet in length. “There is a lot of wealth being produced in the upper sector,” he said. “It’s pretty exponential.”
Today there are 3,428 billionaires globally, compared to just over 3,000 last year. The number of ultra-high net worth individuals is expected to reach… A jump of 31 percent in the next five years, Generating more than 166,000 new leads, according to Fraser. “The emergence of prominent entrepreneurs in the technology sector has helped drive growth,” said Adam Murray, head of business intelligence at the company. Luxury yacht broker Edmiston told the Observer.
Monarchy remains strong at the top. Bezos bought Koru in 2023 for $500 million, and Sergey Brin bought Dragonfly in 2024 for $450 million. In June of this year, Blackstone CEO Steve Schwarzman acquired Destiny for $400 million. However, discretion, flexibility, and the ability to explore new destinations without long-term commitments all push some billionaires toward chartering jets.
Musk is known to be reluctant to take vacations, but he has reportedly rented a 79-foot-tall Zeus in Greece in 2022. For about $7,000 a day. Bill Gates sold his $645 million yacht Breakthrough in 2025 before he ever used it, even though it was custom-built. Instead, he preferred to charter ships such as the 351-foot “Lana” and the 436-foot “Sirene,” worth about $200 million and $400 million, respectively.
On the celebrity front, Beyoncé and her family were frequent guests aboard the Flying Fox, the most expensive charter yacht in the world at a cost of about $4 million per week. Kim Kardashian used Naia, who rents for about $700,000 a week, during the Monaco Grand Prix in June. Although they are not billionaires, other notable figures also tend to charters: Kevin Hart vacationed with his family aboard the 236-foot Axioma in June, and Formula 1 driver Lando Norris spent time aboard the 238-foot Coral Ocean during last year’s Monaco Grand Prix.
“Many younger high-net-worth individuals are less focused on amassing assets and more focused on making the most of their time,” Alex Jay, a charter broker for Burgess in London and Palm Beach, told the Observer. “However, there are still many who view a yacht as an extension of their home and workplace. With remote working now prevalent, both chartering and ownership allow people to stay connected to work while spending quality time with family and friends.”
Billionaires and their luxury yachts
Billionaires spend huge sums of money buying, maintaining and operating luxury yachts, with the annual maintenance cost typically around 10% of the vessel’s value. Notable examples include:
- Steve Schwarzman’s $400 million “Destiny”: The 332-foot yacht, purchased in June, seats 15 guests and a 30-person crew, with a helipad, glass-bottom pool, and beach club.
- Jeff Bezos’ $500 million Kuro: The 417-foot sailing yacht will be delivered in 2023 and features three 230-foot masts, space for 18 guests and up to 40 crew, plus a swimming pool and multiple jacuzzis.
- Sergey Brin’s $450 million ‘Dragonfly’: Delivered in 2024, the 466-foot ship includes a glass-bottomed pool, spa and helipad, and seats 24 guests and 53 crew members.
- Roman Abramovich’s Eclipse and Solaris ($1.3 billion combined): At 533 feet long, Eclipse remains one of the longest yachts in the world, with room for 36 guests, 74 crew members and advanced security systems. Solaris, which will be delivered in 2021, features a helicopter hangar and beach club and can accommodate 36 guests and 60 crew members.
