19:19 GMT24 June 2021
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    Sam Tucker, head of superyacht research at London-based VesselsValue, said the yacht market is booming with more than 50 boats longer than 100 metres currently being constructed by various companies. "It's impossible to get a slot in a new-build yard", Tucker said.

    Jeff Bezos' mega yacht will be one of the largest in the world, Bloomberg reported citing information from the shipbuilder as well as various online bulletin boards for yachting enthusiasts. When completed the boat will be bigger than a football field and span over 127 metres.

    It will sport three enormous decks as well as three masts. According to the outlet, the yacht's price tag is estimated to be well over $500 million. In addition, it will have its own support yacht with a helipad to facilitate the Amazon chief's speedy movement.

    Bezos ordered the yacht several years before the coronavirus pandemic, not knowing that the industry would experience a boom when COVID-19 swet the globe, Bloomberg wrote. Sam Tucker, head of superyacht research at London-based VesselsValue told the outlet the demand for high-end boats has outstripped the supply, with more and more wealthy individuals wanting to escape the pandemic not in their villas and mansions, but at sea.

    Hollywood director Stephen Spielberg also bought a new yacht, Bloomberg reported citing three individuals familiar with the matter. His current yacht, estimated to be worth $158 million, is now up for sale.

    Explorer yachts, which can travel 9,000 nautical miles without stopping to refuel, have become especially valuable during the pandemic.

    "Clients can enjoy life at sea for long periods of time without having to go mix with others", said Aino Grapin, chief executive officer of superyacht interior studio Winch Design.

    Despite the cost of ownership being quite expensive (the price stands at around 10 percent of a boat's value), more and more individuals are purchasing luxury boats. According to Sam Tucker, there are about 50 yachts longer than 100 metres currently under construction.

    yacht, Jeff Bezos
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