The Haves and Have-Yachts Review: Wealth & Inequality
- The length of a superyacht, or "length over all" (LOA), speaks volumes about its owner, according to Evan Osnos.
- Osnos notes that demand for superyachts is surging, outpacing supply.
- Osnos argues that figures like Elon Musk, Mark zuckerberg, Bezos, and Sergey Brin demonstrated their growing influence alongside their wealth, marking a shift toward plutocracy.
The ultra-wealthy are embracing superyachts, a trend that highlights widening inequality. This “Haves and have-Yachts Review” reveals that demand for these mobile palaces is soaring, fueled by a dramatic increase in US billionaires as 1990, while median wages stagnate. Superyachts offer discreet escapes and unparalleled luxury, with features like onboard IMAX theaters catering to conspicuous consumption, as the elite seek to escape public life. owning a superyacht, though, is a depreciating asset. Learn how this reflects deeper societal shifts and even political power, as explored in this News Directory 3 inquiry into the world of extreme wealth and its impact. Discover what’s next for this growing disparity.
Superyachts and the Spectacle of Extreme Wealth
Updated May 26, 2025
The length of a superyacht, or “length over all” (LOA), speaks volumes about its owner, according to Evan Osnos. Jeff Bezos, for instance, commissioned the $485 million yacht Koru, whose towering masts created a logistical challenge in Rotterdam. This anecdote highlights the world of extreme wealth and the lengths to which the ultra-rich go for luxury.
Osnos notes that demand for superyachts is surging, outpacing supply. The number of U.S. billionaires has skyrocketed from 66 in 1990 to over 700 in 2023, a more than 1,000% increase. Meanwhile, median U.S. hourly wages have risen by a mere 20%, underscoring the spiraling inequality.
This inequality extends to political power. Osnos argues that figures like Elon Musk, Mark zuckerberg, Bezos, and Sergey Brin demonstrated their growing influence alongside their wealth, marking a shift toward plutocracy.
For some, superyachts represent the ultimate escape. One yacht owner told Osnos that boats are the “last place” to indulge in a lifestyle with a high staff-to-guest ratio. These mobile palaces offer a discreet retreat, aligning with a desire to “escape from politics,” as expressed by Peter Thiel, who supported the creation of floating mini-states.
Inside these superyachts, extravagance knows no bounds.Imax theaters, ski rooms, and onboard pathogen testing equipment cater to the desire to escape from the masses. This trend reflects Thorstein Veblen’s concept of “conspicuous consumption,” where showy wastefulness becomes a display of power.
In 1990, there were 66 US billionaires; by 2023 there were over 700
The amenities available are endless: bagels, rare melons, Dom Pérignon, and more. Though,superyachts are a terrible asset class,losing value rapidly. As the financial Times noted, owning a superyacht is like “owning a stack of 10 Van Goghs… trying to keep them dry.”
What’s next
As wealth continues to concentrate, the trend of extreme luxury and escape through superyachts is likely to persist, further highlighting the growing gap between the ultra-rich and the rest of society.