Yes, I work in commercial insurance and we wrote the insurance for an entire portfolio of a family owned private equity. The father at the head of it owned multiple yachts and ran a side business renting them out when he didn’t use them. It essentially just made them cheaper to own.
So basically the rich guys own a yacht, and to recoup on the cost he rents it out to the mega rich who can afford to even when not used not to have to bother with maintenance and such.
Yes, I work in commercial insurance and we wrote the insurance for an entire portfolio of a family owned private equity. The father at the head of it owned multiple yachts and ran a side business renting them out when he didn’t use them. It essentially just made them cheaper to own.
So basically the rich guys own a yacht, and to recoup on the cost he rents it out to the mega rich who can afford to even when not used not to have to bother with maintenance and such.
I bet the yacht owner thinks he’s poor.
I’m pretty sure he and his $20 million dollar home and cash poor businesses think he’s rich. They were the worst people to work with.