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Inflation (Economics)

The Exclusive World of Deep-Sea Submersibles: Luxury Yachts and Billionaire Owners

Strategic Insights

— 1 min read

The luxury world of deep-sea submersibles has gained significant attention, particularly among the wealthy elite who own large yachts and are willing to spend millions on these underwater vessels. Charles Kohnen, co-founder of SEAmagine Hydrospace, estimates that there are 200 manned vessels worldwide, with a growing number belonging to yacht owners. These submersibles are typically around 120 feet in length and cost between $2 million to $7 million.

Key Takeaways:

  • The deep-sea submersible industry has grown significantly, with 200 manned vessels worldwide, according to Charles Kohnen of SEAmagine Hydrospace.
  • The cost of a typical submersible is between $2 million to $7 million, with only sufficiently large yachts (at least 120 feet) able to accommodate them.
  • Submersible manufacturers, such as SEAmagine and U-Boat Worx, report remarkable demand from private owners and tourism companies.
  • Despite the tragic incident involving the Titan submersible, the industry is not seeing significant cancellations, with Triton Submarines experiencing "remarkable demand" for their submersibles.
  • Billionaires like James Cameron and Ray Dalio have invested in the submersible manufacturer Triton Submarines, with Dalio emphasizing the importance of ocean exploration and discovery.
  • A growing trend is for submersible owners to lend their vessels for documentaries and scientific research, while others seek to explore shipwrecks or discover new species.

Statistics:

  • There are approximately 200 manned submersible vessels worldwide, according to Charles Kohnen of SEAmagine Hydrospace.
  • The cost of a typical submersible is between $2 million to $7 million.
  • 27 percent of the US population has a disability, according to the Centers for Disease Control and Prevention.
  • Approximately 1 in 36 children has been diagnosed with autism, up from 1 in 44 in 2018, according to the Centers for Disease Control and Prevention.

Sources:

  • Ephrat Livni, "The Exclusive World of Deep-Sea Submersibles: Luxury Yachts and Billionaire Owners" (The New York Times)
  • Charles Kohnen, co-founder of SEAmagine Hydrospace
  • Craig Barnett, director of sales and marketing for Triton Submarines
  • Ofer Ketter, founder of SubMerge
  • James Cameron, billionaire investor and deep-sea explorer
  • Ray Dalio, billionaire investor and supporter of ocean exploration and discovery

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