Not bad for a kid from Rose City:
I can see Jerry cruising Lake Ray Hubbard in that… Like Rodney Dangerfield in Caddyshack…
I used to work in the Yachting industry and just for a little more information on the cost to run it he can expect about 10% of the purchase price per year…They are pricey to purchase and to maintain and run.
$2.5 million a year is chump change for Jerry. The cleanup crews at JerryWorld get that much change that falls out of people’s pockets.
Have to love it.
Amazing what you can accomplish in this country.
No such thing as a dream too big. He earned it.
Now if only I could hang out on that boat for a day with those cowboys cheerleaders, ha.
Ten percent of 250 is 25…
This kind of puts Jerry on a par with a James Bond villain. All we need is pictures of Cowboys cheerleaders lounging in swimsuits while armed guards with goofy uniforms patrol the deck.
Good point. My math was a little off at 6:30 a.m.
Since I left the industry the size of private yachts have grew to enormous sizes. The last one I worked on was owned by Bernie Little who also owned the world famous “Miss Budweiser” racing boat. “The Big Eagle” that I was on was 167’ long and had a Bell Jet Ranger helicopter on the back. The boat is famous for being sold to “The Wolf Of Wall Street” and is the one that sinks but looked much different than the one they used in the movie. I worked on it about two years before but it was the same captain. The movie makes him look like an idiot but he was/is a very good captain and a really cool guy. He was absolved by the insurance company in the sinking which very rarely happens when a ship goes down.
I saw where they were taking “enquiries” about leasing the ship at $1.2+ million a week. I’d bet Jerry is looking at this as a great toy, but also nice income generator, with really nice expense and depreciation write-offs. Just rent it 20 weeks a year, and he’s got a gross annual return of 10%+.
I was about to say Swines math ain’t adding up I got more like 25 mil to maintain
Yachts this size do not generate a profit. Revenue , yes, profit no. That cost of $1M+ is for the boat only. All expenses for the week, food, entertainment, fuel, docking fees (which is by the foot by the way), etc are not usually included. Chartering yachts of that size requires an immense amount of cash flow. There is only a handful of people around the world that can afford the expense and the # of yachts in the market for charter is growing every day. These people who own them only charter them to attempt to defray costs, not make a profit. Trying to charter the yacht also separates the incredibly rich from the disgustingly rich (those that do not charter their yachts)
Yachts this size do not generate a profit. Revenue , yes, profit no.
[/quote]If you can afford the price, you really don’t have to care whether or not it reaps a profit. I’m pleased that one of my Western Arkansas alumni can afford this gig.
Of course not profit from the boat. I never mentioned “profit”. That’s why I emphasized the expense and depreciation write-offs. Rather than just mention “income” or “annual return”, I probably should have said “cash flow” to help cover maintenance and other costs. Wealthy people like Jerry, almost every year, are looking for expense, depreciation, and amortization in one or more of their companies/LLCs to off-set their profitable (taxable) operations in other companies or LLCs that they control.
About 15 years ago, I had a friend in Florida who invested “a chunk” in an LLC that had bought a super yacht for the express reason to lease it. Their market area was primarily Europe, Greece, and the middle east. He was very happy with the returns on his K-1 each year. He said about 70% of the use was from Middle East money. Now, I’ll admit, I haven’t talked to him in about 12 years, so if that market has been flooded in the last 10 years with new lessors, he may not be that happy with his investment.
The Saudis (princes & sheiks) could/would lease a yacht like that and if they liked it would offer a price to purchase.
Now this could be a plan of Jerry’s as he may be well associated with some Saudi oil ministers.
However Trump took it in the shorts with his last Saudi Yacht deal. But that could have been by design and some kissing feet and a…!
LOL. I hadn’t thought about this, but since you brought up Trump. He’s probably not real happy with Jerry for sending a Quarter of a billion of US $s to the Netherlands and Italy when he’s trying to bring US business $s back to the US by cutting corp. taxes.
Correct he did, I just don’t see Jerry & Donald being best of business friends anyway. Jerry actually has a degree & earned his by being savvy. Donald, well nuff said, lol.
Have you any knowledge of the Wharton School at The University Of Pennsylvania? President Donald Trump received a Bachelor of Science Degree in Economics from
Forbes estimates his personal fortune is greater than
three billion dollars. He must be doing something right. :roll:
So, how does your net worth compare?