Jeff Bezos are seen on Jeff Bezos’ yacht on June 12, 2023 in Portofino, Italy. ” width=”970″ height=”728″ data-caption=’Lauren Sanchez and Jeff Bezos are seen on Jeff Bezos’ yacht, “Koru,” on June 12, 2023 in Portofino, Italy. <span class=”lazyload media-credit”>MEGA/GC Images</span>’>
In the Mediterranean every summer, the world’s richest vacationers turn superyachts into highly personalized playgrounds, whether they own them or not. Jeff Bezos has been spotted cruising the Balearics aboard his 417-foot sailing yacht, “Koru,” since its 2023 debut, while Google co-founder Sergey Brin’s 466-foot “Dragonfly,” delivered in 2024, has made appearances along the French Riviera. Meanwhile, chartering remains just as visible: Beyoncé and Jay-Z have repeatedly vacationed on 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 superyacht is perhaps the ultimate symbol of wealth, but even among the fraction of the top 0.1 percent who can afford one, buying isn’t always ideal. Instead, a growing class of billionaires is choosing to charter these vessels, dipping in and out of the lifestyle for a few weeks every year without tethering themselves to ownership.
Global yacht broker Burgess Yachts said charter bookings for all yachts in its fleet are up 6.5 percent year over year, while retail rental bookings are up 15 percent. Fraser Yachts, which handles a portfolio of yachts worth over $7.4 billion, reported earlier this year that last-minute charter bookings are on the rise, too, suggesting flexibility as a key motivator.
“Charter has traditionally been something that somebody will do before they would buy,” George Jousma, president of yacht broker Italian Yacht Group in Florida and New York, told Observer. He noted that both renting and owning are growing quickly, especially in the superyacht segment, which generally includes fully staffed luxury vessels that are at least 79 feet long. “There’s a lot of wealth being produced in the upper sector,” he said. “It’s somewhat exponential.”
There are 3,428 billionaires globally today, up from just over 3,000 last year. The population of ultra-high-net-worth individuals is projected to jump 31 percent in the next five years, creating more than 166,000 potential new charter clients, according to Fraser. “The rise of high-profile entrepreneurs in the tech sector has helped drive growth,” Adam Moorey, head of business intelligence at superyacht broker Edmiston, told Observer.
Ownership remains strong at the very top. Bezos bought “Koru” in 2023 for $500 million, and Sergey Brin purchased “Dragonfly” in 2024 for $450 million. In June this year, Blackstone CEO Steve Schwarzman acquired the $400 million “Destiny.” Still, discretion, flexibility and the ability to explore new destinations without long-term commitments are all pushing some billionaires toward chartering.
Musk is famously reluctant to take vacations, but he did charter the 79-foot “Zeus” in Greece in 2022, reportedly for about $7,000 per day. Bill Gates sold his $645 million yacht “Breakthrough” in 2025 before ever using it, despite having it custom-built. He has instead favored chartering vessels like the 351-foot “Lana” and the 436-foot “Serene,” valued at roughly $200 million and $400 million, respectively.
On the celebrity side, Beyoncé and her family have been frequent guests aboard “Flying Fox,” the world’s most expensive charter yacht at roughly $4 million per week. Kim Kardashian used “Naia,” which charters for about $700,000 per week, during the Monaco Grand Prix in June. While not billionaires, other high-profile figures are also leaning into charters: Kevin Hart vacationed with his family on 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 ultra-high-net-worth individuals are less focused on collecting assets and more focused on making the most of their time,” Alex Guy, a charter broker for Burgess in London and Palm Beach, told Observer. “That said, there are still plenty who view a yacht as an extension of their home and workplace. With remote working now so common, both chartering and ownership allow people to stay connected to business while spending quality time with family and friends.”
Billionaires and their superyachts
Billionaires spend heavily to purchase, maintain and operate superyachts, with annual upkeep typically running about 10 percent of a vessel’s value. Notable examples include:
Steve Schwarzman’s $400 million “Destiny”: The 332-foot yacht, acquired in June, accommodates 15 guests and a 30-person crew, with a helicopter pad, glass-bottom pool and beach club.
Jeff Bezos’ $500 million “Koru”: Delivered in 2023, the 417-foot sailing yacht features three 230-foot masts, space for 18 guests and up to 40 crew, along with a pool and multiple jacuzzis.
Sergey Brin’s $450 million “Dragonfly”: Delivered in 2024, the 466-foot vessel includes a glass-bottom pool, spa and helicopter pad, accommodating 24 guests and 53 crew.
Roman Abramovich’s “Eclipse” and “Solaris” ($1.3 billion combined): “Eclipse,” at 533 feet, remains one of the longest yachts in the world, with space for 36 guests and 74 crew and advanced security systems. “Solaris,” delivered in 2021, features a helicopter hangar, beach club and capacity for 36 guests and 60 crew.
