"Over the past few years, billionaires like Brin and Amazon founder Jeff Bezos have shown off increasingly extravagant multi-deck megayachts, some as big as small cruise ships. The Dragonfly-with its movie theater, beauty salon, and multiple helicopter pads-is rumored to be worth some $450 million. Bezos has a 417-foot skiff called Koru that reportedly cost more than $500 million. And the Breakthrough-which one commentator referred to as a "modern engineering marvel"-was reportedly commissioned by Bill Gates and up for sale last year for $645 million."
"But now those floating palaces are running into a hard limit where billionaire wealth is of little help: dock space. Miami offers several deep-water berths that can accommodate larger vessels, including docking areas specifically designed to welcome superyachts. Island Gardens Deep Harbor, for instance, can host vessels up to 550 feet and provides amenities including access to a marina lounge. Some marinas have even undergone sweeping renovations, including a $40 million one in Palm Beach in 2022."
In early December, Sergey Brin arrived in Miami aboard the 466-foot superyacht Dragonfly during Art Basel. South Florida, including Miami and nearby enclaves, has become a showcase for Silicon Valley billionaire wealth, with megayachts featuring amenities like movie theaters, salons, and helicopter pads. Vessels such as Brin's Dragonfly, Bezos's Koru, and Gates's Breakthrough are valued at hundreds of millions of dollars. Deep-water berths exist—Island Gardens Deep Harbor can host ships up to 550 feet—and some marinas have seen multimillion-dollar renovations. A recent influx of wealthy residents has strained berth capacity, raised annual docking fees, and spawned permitting disputes and legal fights.
Read at Fortune
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