A $10 million, 90-foot yacht was being launched in Washington state when it suddenly capsized.
Rupert Murdoch is parting with one of his favorite trophies-his yacht.
They flaunt their cash around the world, buying soccer clubs, owning airlines and running banks. Now the Emirati Royal Family rules the waves too after ranking first in a league table of owners of the world's biggest mega-yachts, knocking billionaire Roman Abramovich off the top spot.
Dan Loeb has become a billionaire searching out value in financial markets. Now, he's applying the same skills with yacht buying.
Most mega-yachts are designed for pleasure cruises or bobbing off the sunny waters of the Amalfi Coast. Hedge-fund founder Ray Dalio's Alucia is equipped with sensors, submarine launchpads and cranes aimed at scientific discoveries, like the giant squid the ship's cameras recently captured on film.
Stephanie Ruhle reports on how the economy is affecting Cherubini Yachts makers of classic boats. She speaks on Bloomberg Television's 'Market Makers'.
It's tough at the top!