After listing his old 282-Foot Superyacht for sale at $160 million, and selling it for $150 million, Steven Spielberg is about to take delivery of his new, improved, much bigger, and much more expensive 358-foot superyacht. Check it out.
Codenamed Project Y720, Spielberg’s new boat is built by Oceanco, the same shipyard that made his old boat. Oceanco is also building a $500 million superyacht for Jeff Bezos. There are no words on what Spielberg is paying for his new toy, but if you go by the $500 million Jeff is paying for his 417 footer, that works out to $1.2 million a foot. At 358 foot, Project Y720 should come in at $430 million, but don’t quote me on that.
Spielberg ordered the yacht way back in 2019, and marked a milestone for Oceanco because it was the first yacht to complete construction between Oceanco’s two facilities in Zwijndrecht and Alblasserdam, The Netherlands. In fact, she essentially christened the Zwijndrecht shipyard.
After construction at Zwijndrecht, she was moved to Alblasserdam, the facility designed to have a minimum impact on the environment, where she was outfitted.
The specs on Y720 is impressive. She is 358 feet (109 meters) long with a 52 feet (16 meter) beam and has a top speed of 20 knots. At a normal 15 knot cruising speed, she burns almost 20 gallons of fuel per mile, so she’s not the most environmentally friendly purchase.
Right now, Y720 is undergoing sea trials before Spielberg takes delivery. At that time we’ll know the name Spielberg will give his new yacht. Will he call it Seven Seas II or give it a brand new name? We’ll soon find out.