Jay-Z and Beyonce Charter $40 Milllion Superyacht

by Jared Paul Stern (RSS feed)
Aug 25th 2010 at 4:01PM

Add another famous couple to The Classicist's list of superstars (including Madonna and Brangelina) sunning themselves on superyachts this summer: Jay-Z and Beyoncé. R&B's royal couple have been cruising on the French Riviera on a $40 million superyacht, the London Daily Mail reports. The pair, who earned an estimated $150 million between them last year, are chartering the 180-ft. Altitude (above), built by Italy's Benetti yachts in 2003, for $370,000 a week. The yacht can accommodate 14 guests in 6 cabins. The vast split-level owner's apartment has his and hers white marble bathrooms, a separate study and a private 180º raised observation lounge with spectacular views forward. A sun deck features a huge spa pool complete with wetbar and a well equipped gymnasium. The yacht is also available for sale at about $40 million.

Gallery: Jay-Z and Beyonce's Superyacht Charter

Tags: Benetti yachts, Beyoncé, celebrity, French Riviera, Jay-Z, Madonna, marble, superyacht, yacht, yacht charter

Filed under: Yachts & Sailing, Celebrity Shopping

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Reader Comments (Page 1 of 1)

beanspants Aug 25th 2010 5:25PM

Assuming you can amortize a yacht over 30 years (with relative ease) the payment on this would be around $250k per month, and operations around 20% a year, or $8million or $700k per month, then the monthly expenditure is around $1mm, and this rental is $1.5mm. Therefore this boat is likely a cashflow positive rental.

RLinLA Aug 26th 2010 12:28PM

Ummm...It's cash flow positive for one month ... AUG ... high season. Doubtful this boat is rented even 20% of the year. July and Aug probably have nice activity. I bet the owner has to drag it to the Caribbean in the winter hoping the same couple rents it in St Barts for New Years week.

Sincerely,
bitter that i can't afford a boat.

al schrader Aug 28th 2010 1:21PM

I used to spend the day on the Ambassador II which is a 500 foot long 600 million dollar boat with live music & dancing, casino, food on two decks, lots of women including showgirls from Vegas, and incredible Vistas of Cocoa Beach & a sailboat heaven on the Atlantic. Sorry, but I wouldn't spend 5 minutes with those two on that cork, though they seem like nice people....Al-

beanspants Aug 26th 2010 4:40PM

Yes, you are correct. that's a very good distinction.

mark Aug 27th 2010 3:39AM

Yachts like these tend to only charter for approximately 5 weeks per season and generally do visit the Caribbean in the winter.

Charter is a good way of offsetting the running costs of the yacht but it is extremely rare for charter to to turn a profit for the owner. It is worth bearing in mind that the more a yacht charters, the higher the maintenance costs will be.

The other point worth mentioning is that all the figures in the article are incorrect except with the possible exception of the current selling price.

richardg Aug 27th 2010 11:44AM

This particular yacht (as I understand it) is chartered quite regularly, charters should at least off-set the mooring costs for the year and keep operating costs down during the off seasons.

Below is a link to a yacht we filmed earlier in the year, pls feel free to take a look at that level of luxury before being shocked by the costs.

CANDYSCAPE II
http://www.thebank.co.uk/client-area.aspx?key=25099BF5-0BC6-4F8A-BEF4-6191E131D6F7

Rich