UAE President's Azzam Yacht Becomes the Most Expensive Purchase in Recent History

His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, acquired the Azzam yacht for US $ 627 million in 2013. This purchase is regarded as the most expensive when it comes to luxury goods in recent history. The purchase price amounted to 3.5% of the total state of the monarch, which is estimated at US $ 17.9 billion.

The second most expensive purchase was made by Larry Ellison, the head of Oracle, who bought Lanai Island in Hawaii in 2012 for US $ 500 million. According to the Wealth-X report, yachts are the most common purchase among billionaires: they are owned by 80% of super-rich people.

It is worth recalling that one of the most expensive and largest yachts in the world is owned by the Russian billionaire Roman Abramovich: the 553-foot Eclipse super vessel costs approximately US $ 485 million. Vodka tycoon Yuri Shefler also owns the Serene superyacht worth US $ 300 million. In turn, the famous industrialist Andrey Melnichenko bought the yacht for US $ 323 million, which also allowed him to enter the top five owners of the most luxurious floating palaces.