U.S. billionaire, Charles Koch, suggested in National Review Online the other day that those who have been the most fortunate financially (for example, himself and his brother, David Koch) can do a better job allocating their money for societal benefit than can government. That may or may not be true in the specific case of Mr. Koch, but most of us are capable of spending large sums on things that do society little, if any, good. And spending money on leisure can be a source of immense enjoyment. But it’s a question of proportionality and scale.
From The Business Insider:
Billionaire Russian tycoon Roman Abramovich has been told to park his massive yacht, the Eclipse [pictured above], elsewhere by officials at the Antibes port on the French Riviera who said the boat would not fit on the so-called “Millionaires’ Berth,” according to the Daily Mail.
Abramovich reportedly sought to dock the Eclipse, which at 536 feet, is the world’s largest yacht, on Monday.
According to the Daily Mail:
But the port authorities immediately said that they already had enough tycoons’ boats moored up, and there was no possibility of them ‘squeezing Eclipse in’ because it was ‘far too big’.
‘Mr Abramovich has a villa in the town and is, of course, always welcome to disembark with his family, but with a yacht this size it was not possible,’ said a source in the Riviera port.
‘Instead Eclipse had to be sailed out to sea and left there.’
The $800 million boat has both an anti-missile defense system and an anti-paparazzi laser shield that can scan for nearby cameras, and then fire a beam of light at the photographer’s lens to destroy the photos.