Wealthy Turn Superyachts into Full-Time Homes

An increasing number of affluent people are opting to reside permanently on superyachts, a shift that has been hastened by the pandemic. According to Erwin Bamps, CEO of Gulf Craft, many individuals purchased vessels during and after Covid to seek sanity and a sense of normalcy. The allure lies in the freedom it offers, improved work-life balance, and advancements in marine technology, such as Starlink satellite internet, facilitating remote work. Innovations in engineering enable yachts to cover greater distances with reduced fuel consumption, emphasizing stabilization systems, hybrid propulsion, and enhanced connectivity. Bamps points out that clients desire floating real estate, exemplified by billionaire Gabe Newell's 364-foot Leviathan, acquired in 2025, which features personalized amenities like saunas and spacious wardrobes.