Billionaire paid $141,000 just to moor his $200 million superyacht next to the 2024 Monaco Grand Prix
- Michael Latifi is a Iranian-Canadian billionaire who’s also the father of former F1 driver Nicholas Latifi
- His yacht, Faith, is available for charter for $1.4 million a week
- During the Monaco GP weekend, the yacht was docked for a whopping fee of $141,000 per day
Published on May 28, 2024 at 7:40 PM (UTC+4)
by Alessandro Renesis
Last updated on May 31, 2024 at 7:26 PM (UTC+4)
Edited by
Tom Wood
Michael Latifi is a self-made billionaire who spent a fortune to buy a yacht and then spent a small fortune all over again just to moor it next to the port in Monaco.
He decided to fork out the price of a supercar just for the privilege of being able to watch the 2024 Monaco Grand Prix from his yacht.
However, for reasons that will become clear in about two seconds, this was not a big deal for him.
READ MORE: Exclusive look inside the Lamborghini yacht worth $4M
Michael Latifi was born in Iran but moved to Canada many decades ago.
After making a fortune with a food company, he became interested in cars.
Among other things, he invested $270 million in McLaren Group.
He also helped his son, Nicholas Latifi, earn a Williams seat to race in Formula 1.
A few years ago, Latifi enriched his portfolio with Faith, a 96-meter (316ft) superyacht built by Feadship in the Netherlands.
This is the same shipyard that built Alvia, the 270-foot yacht ‘Dunes‘, and even Bill Gates’ hydrogen-powered superyacht, known as ‘Project 821‘.
Faith is an award-winning yacht with 7 suites for 14 guests, plus 26 crew, and an outstanding pool design.
The glass swimming pool is built on top of the beach club, which is something you don’t see every day.
It even has a walk-in snow room.
Faith cost around $200 million to build and it is available for charter – at a cool $1.4 million per week.
This is the reason why paying $141,000 to moor the yacht, that is the going rate in Monaco for a yacht of this size during the weekend of the GP, is no big deal.
By chartering the yacht, the owner can literally make that back in a day.
Alessandro is an automotive journalist with 10 years of experience covering supercars, automotive history, emerging vehicle technology, and luxury transportation. He wrote the first article published on SupercarBlondie.com when the website launched in 2022 and has since built a reputation for insightful reporting across the automotive and transportation industries. His expertise is grounded in hands-on experience. Alessandro has driven every Tesla model ever produced, from the original Roadster to the Cybertruck, and regularly covers the latest developments in electric vehicles and automotive innovation. His passion for transportation extends beyond cars, he has even flown a Boeing 787 Dreamliner simulator in Addis Ababa, Ethiopia. His reporting spans everything from classic American muscle cars and rare automotive discoveries to luxury yachts, private aircraft, high-end watches, and cutting-edge vehicle technology. Known for his deep knowledge of automotive history and ability to uncover the stories behind iconic vehicles, Alessandro brings readers a blend of historical context, technical expertise, and first-hand experience.
