A $500m mega-yacht has just appeared in the port of Hong Kong.
It is known as ‘Nord’, and is reportedly owned by Alexey Mordashov, the second richest man in Russia.
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Like most superyachts of this size, the 466-ft Nord was built by Lürssen in Germany.
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Among other things, it has a gym, a swimming pool, a movie theater, a tender garage, a beach club, a sauna, a beauty salon, and two helipads.
You get the picture.
Ever since the start of the Russian invasion of Ukraine in February 2022, Russian oligarchs have been trying to fight off sanctions.
Many Russian billionaires have ties to the Kremlin, but they also own properties and mega-yachts in the territories where they’re being sectioned.
That’s what happened to Mordashov and his yacht.
The yacht is believed to have left Seychelles in March to avoid sanctions before reaching the Russian port of Vladivostok about a month later.
The trip reportedly cost $465,000 in fuel alone.
After spending nearly seven months in Vladivostok, the Nord left the port on the Sea of Japan and initially headed for the Vietnamese port of Da Nang.
However, she then abruptly changed her route and sailed to Hong Kong, where she arrived earlier this week.
Mordashov has made a fortune in the steel and mining industry, and he is currently the majority shareholder of Severstal.
He actually named his yacht after the first mining company he founded nearly 20 years ago: ‘Nord’.
Like most Russian oligarchs, Mordashov was blacklisted by the European Union and had his assets frozen.
In addition to the ‘Nord, he also owns more yachts, including the Lady M, a much smaller yacht that was seized by the Italian police in March 2022.