Support Marketplace

Super-yacht super sale

In trying economic times, even the mega-wealthy downsize and bargain-shop.

The Pulse is down today on news that even the 1 percent are downsizing.

This morning the Wall Street Journal reported former Citigroup CEO Sandy Weill just unloaded his Central Park penthouse to a Russian billionaire who bought it for his 22-year-old daughter. The price tag: a Manhattan record $88 million. Weill and his wife might be considering a simpler life on their $31 million 362-acre vineyard in Sonoma, Calif.

Good call. No need to flash the cash when times are tough.

But he can’t seem to give away his 200-foot elevator-equipped mega-yacht “April Fool,” which is currently a bargain at just under $70 million.

Apparently, even with some important economic indicators pointing toward daylight here in the U.S. -- important unemployment numbers today were the lowest since 2008 -- the uncertain state of the world economy even has .01 percent tightening their alligator Gucci belts.

“Guess we’ll just have to vacation on our 150-foot yachts this year,” the unfathomably rich shrug.

About the author

Joel Patterson is the Associate Producer of Marketplace Money.

Comments

I agree to American Public Media's Terms and Conditions.
With Generous Support From...