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

Billionaire paid $141,000 just to moor his $200 million superyacht next to the 2024 Monaco Grand Prix

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.

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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.

# Tags - superyacht


Alessandro Renesis

Experienced content creator with a strong focus on cars and watches. Alessandro penned the first-ever post on the Supercar Blondie website and covers cars, watches, yachts, real estate and crypto. Former DriveTribe writer, fixed gear bike owner, obsessed with ducks for some reason.