Tampa Bay real estate mogul reveals the running costs of a $5 million yacht
- A Tampa Bay real-estate mogul has revealed the running costs of a superyacht
- Payments are not just one and done and then you own the boat, it involves a lot more
- When you factor in fuel costs, everything skyrockets
Published on Feb 08, 2025 at 12:00 AM (UTC+4)
by Daisy Edwards
Last updated on Feb 08, 2025 at 12:00 AM (UTC+4)
Edited by
Tom Wood
This Tampa Bay based real estate mogul has revealed the extortionate running costs of a $5 million yacht.
Turns out when you buy a very expensive yacht, it’s not just a one and done deal, and you have to factor in a lot of running costs.
The content creator factored in monthly fuel costs on top of maintenance, paying a captain, insurance and parking.
When you have a spare $5 million lying about for a yacht, all of these monthly costs probably feel like pocket change.
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How much money do you need to spend on a $5 million yacht?
Tampa Bay-based real-estate mogul Ben Mallah has shared the monthly price of a luxury superyacht, because it’s not just the price of the boat itself you have to think of.
He starts by describing ‘parking’, because you need somewhere to leave the yacht when you’re not there.
He estimates it as a minimum of $7,000 a month.
Most people who own these million dollar superyachts like these probably don’t want to be sailing their own boats so they can spend more time relaxing and having fun.
Hiring a captain is the same price as parking, so that would add another $7,000 on to your monthly expenses.
Keeping your superyacht safe is essential, and making sure that you’re covered if it gets accidentally damaged, Ben says insurance is about $2,000 a month.
Yachts don’t stay perfect and gorgeous without regular upkeep, so hiring maintenance people and buying maintenance equipment costs around $4,000 a month, according to Ben.
All in all, regular monthly costs come to $20,000 minimum, which adds an extra yearly $240,000 in regular maintenance costs…woah.
We forgot fuel
We can’t forget how much fuel costs add onto maintaining your perfect $5 million yacht.
Superyachts use a LOT of fuel, 100 gallons in an hour.
At $4 a gallon, fueling a superyacht will cost $400 an hour. This tends to shake down to around every 20 miles costing you $400.
Ben used the example of a ‘short’ 2.5 hour journey between Tampa Bay and the Bahamas costing $1000 in fuel alone.
Basically, it’s pretty expensive to keep a $5 million yacht in a good condition, but if you’re offering to take us out on yours, we won’t complain.
We can’t afford to put any fuel money in though.
Daisy is a technology and automotive journalist covering artificial intelligence, consumer tech, Apple news, cryptocurrency, emerging technologies, and transportation innovation. Since joining the team in 2025, she has reported on everything from AI-powered startups and major iOS updates to viral car stories and the latest developments shaping transportation and the digital economy. Drawing on her background in automotive journalism and a degree in History and Journalism from Goldsmiths, University of London, Daisy specializes in breaking down complex topics into clear, engaging reporting for a global audience. Her work spans cutting-edge technology, innovative vehicles, and the people driving change across both industries. Daisy has gained first-hand access to some of the world's most talked-about technologies and innovators, including meeting Tesla's Optimus humanoid robot during its first European appearance in London. She has also discussed the future of space exploration with an astronaut, bringing unique insights and real-world perspectives to her coverage of emerging technology.
