UAE President Sheikh Khalifa bin Zayed Al-Nahyan's purchase of yacht, Azzam, in 2013 for an estimated $627 million, is billed as the most expensive luxury asset acquisition of all time, says a report.
"Measuring a whopping 590-foot, Khalifa's Azzam is the biggest yacht in the world, overtaking Abramovich's 533-feet yacht Eclipse, which was the world's biggest for the past three years," the report said.
According to a report by Wealth-X, Sheikh Khalifa's yacht is merely 3.5 % of his total net worth of $17.9 billion
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Designed by Nauta Yachts New $592 million Azzam superyacht is world's Largest yacht. It is more than 15 metres longer than Russian billionaire Roman Abramovich's famous mega-yacht the Eclipse. She's also heavier, with an estimated gross tonnage of 14,000GT - roughly equivalent to 1750 adult African elephants. Azzam means dedication in Arabic was launched in Germany yesterday. At 94,000 horsepower, the yacht is expected to be one of the quickest in the world, reaching speeds of over 30 knots
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