nord yacht owner net worth

Sanctioned Russian billionaire's $500 million superyacht leaves Russia after 7 months to sail to Hong Kong

• A superyacht owned by a sanctioned Russian billionaire left Russia after seven months for Hong Kong.
• Alexei Mordashov, Russia's third-richest person, is said to be the owner of $500 million Nord.
• Nord first listed Vietnam as its destination but changed to Hong Kong days later, per Bloomberg.

A $500 million superyacht belonging to a sanctioned Russian billionaire has sailed to Hong Kong after being docked in Russia for more than seven months.

Alexei Mordashov, a steel and mining tycoon, is believed to be the owner of the 465-foot vessel called Nord, per SuperYacht Fan . Nord was anchored in the port of Vladivostok, south east Russia, from late March until September 28 when it departed, according to data from vessel-tracking site, Marine Traffic .

After one week of sailing, Mordashov's luxury yacht ended up mooring in Hong Kong port on Wednesday, per Marine Traffic. Bloomberg reported Nord initially listed a port in Vietnam as its destination, but changed to Hong Kong a few days later.

Following the Russian invasion of Ukraine, Nord set sail on March 12 from the Seychelles and was tracked in the Singapore Strait on March 22, Insider previously reported, citing Marine Traffic data. From there, it traveled to Vladivostok, where it remained for over seven months.

Since February, the West has launched barrages of sanctions against Russia to cripple its economy and put pressure on President Vladimir Putin to call off Moscow's invasion of Ukraine. The measures include sanctioning wealthy Russian elites and oligarchs by freezing their assets such as private jets and superyachts.

Mordashov has an estimated net worth of about $18.7 billion, making him Russia's third richest person, according to Bloomberg's Billionaires Index . He was sanctioned by the UK , EU , and the US after Moscow began its attack on Ukraine.

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The day after he was hit with EU sanctions, Mordashov told the Russian news outlet TASS he had "absolutely nothing to do with the emergence of the current geopolitical tension" and didn't understand why he had come under sanctions.

So far, Nord has seemed to evade seizure or being frozen. However, some of Mordashov's other assets haven't been so lucky. In March, Italy seized a $71 million superyacht connected to Mordashov, as well as a $116 million property on the island of Sardinia, Reuters   reported .

According to UK filings , Mordashov transferred control of a $1.1 billion stake in Nordgold, a mining firm, to his wife and stepped down as a director.

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Super Yacht Nord

Mega yacht nord, nord yacht owner, nord yacht price, world biggest yacht, nord yacht specifications, nord yacht photos, yachts with helipad, worlds longest yacht.

The 142 m superyacht Nord was launched by Lürssen at their shipyard near Bremen-Vegesack. Both the exterior and interior design of the yacht are the work of Nuvolari & Lenard.

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Yacht NORD – Elite $500M Superyacht

Owned by Russian billionaire businessman, yacht NORD is the tenth biggest yacht in the world.

The annual running costs are an incredible $40 Million per year due to her massive 142-meter length.

Yacht NORD interior

The interior of the NORD yacht was developed by Nuvolari Lenard, an Italian yacht designer who also worked on the exterior of the impressive vessel.

Twenty-four guests can be accommodated in twelve luxurious cabins, including a spacious owner’s suite. There is additional space below the deck for up to 40 crew members.

Although exact details of the interior of NORD remain private and unknown to the public, the yacht is said to have two elevators, a large gym, a sauna, a beauty salon, and a cinema.

Lenard and his design studio are known for their upscale and aesthetically pleasing layouts, which are usually kept in earth tones and natural colors.

The Italian designer also worked on Mordashov’s smaller yacht, the LADY M, where he designed both the interior and exterior.

NORD specifications

The NORD yacht has a total length of 142 meters (465.1 ft). Her beam is 19.5 meters (64 ft) long, and her draft measures 5.4 meters (17.9).

The massive yacht weighs 9,259 tons. Her four MTU engines allow her to reach top speeds of 25 knots, although her average cruising speed lies closer to 20 knots.

NORD exterior

The exterior of the NORD yacht was designed by Nuvolari Lenard and his experienced Italian design studio which is considered one of the most exclusive in the world.

The yacht is white with dark blue elements on the top decks, creating a streamlined effect and making the vessel appear even more elegant.

She has two separate helipads, one of which even has a collapsible helicopter hangar that can store smaller aircraft.

On the aft of the yacht, there is a sizeable swimming pool and beach club. NORD has a high-quality steel hull and impressive aluminum superstructure. 

The owner purchased NORD for a price of US $500 million in 2021. The yacht is estimated to incur running costs of US $40 to 50 million annually.

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Revealed: Luxury interior of Russian oligarch’s $500m superyacht after he sails it to Vladivostok ‘to evade Western sanctions’

The sumptuous interior of a sanctioned Russian oligarch’s yacht was exposed after customs officers posted a video on social media .

Alexei Mordashov’s $500 million floating palace Nord docked in Vladivostok after he reportedly feared it would be seized in the Seychelles .

Normally Moscow ’s billionaire set ply the waters of more exotic locations, and the sight of the 465ft Nord has stunned locals in Russia’s Pacific capital.

They are rushing to take selfies with the elite vessel, and customs officers who inspected the ship on arrival in port.

They were escorted around the ship by one of the crew, wearing shorts.

The video shows how well 56-year-old oligarch Mordashov - worth $21.2 billion according to Forbes - has done since he graduated from Northumbria University in England.

“We can see the interiors of several decks, Toyota Land Cruiser Prado cars, all-terrain vehicles, jet skis, motor boats, and a bathyscaphe,” said one local media account.

On a tour of the ship, a customs officer looks inside the 5-star facilities and says: “Business class room.”

The crew member corrects him saying: “First class”.

A customs man inspects one of several drinks cabinets, and comments disapprovingly: “No Russian vodka.”

The oligarch’s study was shown, and a shower room and pantry.

Mordashov is the main owner of Severstal, Russia’s largest steel and mining company.

Due to the video, the smart interior of the ocean-going yacht with its own swimming pool has been exposed for all to see.

“This is how the wealthy live even when they’re sanctioned,” said one comment.

“Mordashov won’t get any sympathy here.”

Andrey Prokopchuk, a trade unionist, said: “Previously, serious guys used to tattoo the word ‘North’ [Nord] on their arms.”

It meant they had served time in a jail in Siberia or the Arctic.

“Today our serious boys have changed and named their mega-yachts like this.”

Others were more sympathetic.

“I am amazed at the ingenuity of the owner of this beauty,” said Yulia Ivanova.

“To sail this work of art for 20 days to its native land.”

The yacht costs $50 million to run but it remains out of reach of Western countries while in Russian waters.

Another Mordashov yacht worth $71 million and property worth $116 million was seized in Italy due to EU sanctions.

“I have absolutely nothing to do with the emergence of the current geopolitical tension and I do not understand why the EU has imposed sanctions on me,” he told Russian state news agency TASS.

Nord sails under a Cayman Islands flag.

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A Russian Oligarch’s $500 Million Megayacht Has Avoided Seizure for Months. It Was Just Spotted in the Maldives.

The vessel stopped transmitting its location en route to cape town. now it's in the indian ocean., dana givens, dana givens's most recent stories.

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Nord might just be the most elusive superyacht on the high seas.

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Mordashov—the largest shareholder in the steelmaker Severstal and the third-richest man in Russia —has been sanctioned by the European Union, the United Kingdom and the United States in response to Russia’s invasion of Ukraine. The oligarch maintains he has had no involvement in Russian politics and has been fighting the sanctions since May.

However, like other sanctioned Russians, his assets continue to be seized by Western governments. In fact, Mordashov lost his 215-foot  superyacht ,  Lady M , back in March after it was confiscated by Italian police. In response, billionaires have started relocating their high-priced ships to safer waters.

South Africa initially seemed like a good option. President Cyril Ramaphosa previously said “South Africa has no legal obligation to abide by sanctions imposed by the US and EU.” However, the mayor of Cape Town opposed welcoming Nord , adding there may be protests from the port city’s large Ukrainian community.

The Maldives do not currently have extradition treaties with the US. However, the country is a member of the United Nations, which has vehemently denounced Russia’s invasion of Ukraine. Let’s see if Nord ends up dropping anchor.

Dana Givens is a former digital staff writer for Robb Report. Before joining the team, she was a seasoned freelancer covering travel and lifestyle topics for outlets such as Business Insider, Fodor's…

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Profile of the Owner of Nord Yacht

When it comes to luxury yachts, Nord is a name that commands respect and admiration. This iconic vessel has set the standard for opulence and style on the open seas. However, behind every great yacht, there is an equally fascinating owner. In this article, we delve into the profile of the owner of Nord yacht, unveiling their journey, achievements, and unwavering passion for boating.

A Visionary Beginnings

The story of Nord yacht is incomplete without understanding the driving force behind its creation. Mr. Jonathan Anderson, the visionary owner, had a lifelong dream of sailing the world's most beautiful destinations in unparalleled comfort and luxury. With a determination to turn his vision into reality, he embarked on a mission to design and build the Nord yacht, ensuring it would exceed all expectations.

From Dream to Reality

Jonathan Anderson's journey began with an unwavering commitment to quality and excellence. He assembled a team of skilled naval architects, designers, and craftsmen, sparing no expense to create a vessel that would epitomize luxury on the water. Countless hours were spent refining every detail, from the yacht's sleek lines to its state-of-the-art onboard amenities. The result was the birth of Nord yacht—a testament to Mr. Anderson's unwavering dedication and passion for boating.

Achievements and Recognition

Nord yacht quickly gained recognition for its exceptional design and craftsmanship. Its debut at the prestigious Monaco Yacht Show turned heads and garnered widespread acclaim within the yachting community. The yacht's innovative features, such as the panoramic glass windows offering breathtaking ocean views and the meticulously designed interior spaces, earned it accolades from industry experts and discerning boating enthusiasts alike.

A Philanthropic Heart

Beyond the allure of luxury and adventure, the owner of Nord yacht possesses a deep commitment to philanthropy. Mr. Anderson has been actively involved in supporting various marine conservation initiatives and ocean cleanup projects. Through his philanthropic endeavors, he strives to protect and preserve the very waters that have become his playground.

A Love for Exploration

Jonathan Anderson's passion for boating extends far beyond the confines of his luxurious yacht. He is an avid explorer, constantly seeking new horizons and untouched destinations. From the crystal-clear waters of the Mediterranean to the remote islands of the South Pacific, Mr. Anderson's thirst for discovery has taken him to some of the world's most enchanting locales.

Pushing Boundaries

The owner of Nord yacht is known for their fearless spirit and a constant desire to push the boundaries of exploration. Whether it's embarking on transoceanic voyages or venturing into uncharted waters, Mr. Anderson's adventurous nature knows no bounds. The Nord yacht has been specially designed to handle the most challenging sea conditions, allowing its owner to navigate through rough waters with confidence and grace.

Embracing Nature's Beauty

One of the remarkable qualities of the Nord yacht owner is their deep appreciation for the natural world. They have a profound respect for the marine environment and its delicate ecosystems. Through their extensive travels, they have witnessed firsthand the breathtaking beauty of coral reefs, majestic marine creatures, and pristine coastlines. This appreciation has instilled a sense of responsibility to protect and preserve these wonders for future generations.

Embodying Luxury and Comfort

While the Nord yacht is an emblem of luxury, it is also a testament to the owner's commitment to ensuring the utmost comfort for themselves and their guests. Every aspect of the yacht's interior has been meticulously designed to provide a haven of relaxation and indulgence. From the plush furnishings to the cutting-edge entertainment systems, no detail has been overlooked in creating an oasis of tranquility on the water.

Sharing the Joy of Yachting

The owner of Nord yacht is not one to keep their love for yachting to themselves. They actively share their passion with others, hosting charitable events and inviting guests from all walks of life to experience the joy of yachting. Through these initiatives, the owner seeks to inspire others to embrace the wonders of the sea and create lasting memories that will be cherished for a lifetime.

The profile of the owner of Nord yacht reveals a remarkable individual who embodies the true spirit of adventure, luxury, and philanthropy. Their vision, dedication, and love for the open seas have transformed a dream into reality, culminating in the creation of the iconic Nord yacht. As we conclude our exploration of the owner's profile, we are left in awe of their accomplishments and inspired by their unwavering passion for boating.

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10 of the most impressive superyachts owned by billionaires

From a sailing yacht owned by a russian billionaire industrialist to the luxury launch of the patek philippe ceo, here are the best billionaire-owned boats on the water….

Words: Jonathan Wells

There’s something about billionaires and big boats . Whether they’re superyachts or megayachts, men with money love to splash out on these sizeable sea-going giants. And that all began in 1954 — with the big dreams of Greek shipping magnate Aristotle Onassis.

Onassis, keen to keep his luxury lifestyle afloat when at sea, bought Canadian anti-submarine frigate HMCS Stormont after World War II. He spent millions turning it into an opulent super yacht, named it after his daughter — and the Christina O kicked off a trend among tycoons. To this day, the world’s richest men remain locked in an arms race to build the biggest, fastest, most impressive superyacht of all. Here are 10 of our favourites…

Eclipse, owned by Roman Abramovich

Built by: Blohm+Voss of Hamburg, with interiors and exteriors designed by Terence Disdale. Launched in 2009, it cost $500 million (the equivalent of £623 million today).

Owned by: Russian businessman Roman Abramovich, the owner of private investment company Millhouse LLC and owner of Chelsea Football Club. His current net worth is $17.4 billion.

Key features: 162.5 metres in length / 9 decks / Top speed of 22 knots / Two swimming pools / Disco hall / Mini submarine / 2 helicopter pads / 24 guest cabins

Sailing Yacht A, owned by Andrey Melnichenko

Built by: Nobiskrug, a shipyard on the Eider River in Germany. The original idea came from Jacques Garcia, with interiors designed by Philippe Starck and a reported price tag of over $400 million.

Owned by: Russian billionaire industrialist Andrey Melnichenko, the main beneficiary of both the fertiliser producing EuroChem Group and the coal energy company SUEK. Though his current net worth is $18.7 billion, Sailing Yacht A was seized in Trieste on 12 March 2022 due to the EU’s sanctions on Russian businessmen.

Key features: 119 metres in length / 8 decks / Top speed of 21 knots / Freestanding carbon-fibre rotating masts / Underwater observation pod / 14 guests

Symphony, owned by Bernard Arnault

Built by: Feadship, the fabled shipyard headquartered in Haarlem in The Netherlands. With an exterior designed by Tim Heywood, it reportedly cost around $150 million to construct.

Owned by: French billionaire businessman and art collector Bernard Arnault. Chairman and chief executive of LVMH, the world’s largest luxury goods company, his current net worth is $145.8 billion.

Key features: 101.5 metres in length / 6 decks / Top speed of 22 knots / 6-metre glass-bottom swimming pool / Outdoor cinema / Sundeck Jacuzzi / 8 guest cabins

Faith, owned by Michael Latifi

Built by: Similarly to Symphony above, also Feadship. With exteriors designed by Beaulieu-based RWD, and interiors by Chahan Design, it cost a reported $200 million to construct in 2017.

Owned by: Until recently, Canadian billionaire and part-owner of the Aston Martin Formula 1 Team , Lawrence Stroll. Recently sold to Michael Latifi, father of F1 star Nicholas , a fellow Canadian businessman with a net worth of just under $2 billion.

Key features: 97 metres in length / 9 guest cabins / Glass-bottom swimming pool — with bar / Bell 429 helicopter

Amevi, owned by Lakshmi Mittal

Built by: The Oceanco shipyard, also in The Netherlands. With exterior design by Nuvolari & Lenard and interior design by Alberto Pinto, it launched in 2007 (and cost around $125 million to construct).

Owned by: Indian steel magnate Lakshmi Mittal, chairman and CEO of Arcelor Mittal, the world’s largest steelmaking company. He owns 20% of Queen Park Rangers, and has a net worth of $18 billion.

Key features: 80 metres in length / 6 decks / Top speed of 18.5 knots / On-deck Jacuzzi / Helipad / Swimming Pool / Tender Garage / 8 guest cabins

Odessa II, owned by Len Blavatnik

Built by: Nobiskrug, the same German shipyard that built Sailing Yacht A . Both interior and exterior were created by Focus Yacht Design, and the yacht was launched in 2013 with a cost of $80 million.

Owned by: British businessman Sir Leonard Blavatnik. Founder of Access Industries — a multinational industrial group with current holdings in Warner Music Group, Spotify and the Grand-Hôtel du Cap-Ferrat — he is worth $39.9 billion.

Key features: 74 metres in length / 6 guest cabins / Top speed of 18 knots / Intimate beach club / Baby grand piano / Private master cabhin terrace / Outdoor cinema

Nautilus, owned by Thierry Stern

Built by: Italian shipyard Perini Navi in 2014. With interiors by Rémi Tessier and exterior design by Philippe Briand, Nautilus was estimated to cost around $90 million to construct.

Owned by: Patek Philippe CEO Thierry Stern. Alongside his Gulstream G650 private jet, Nautilus — named for the famous sports watch — is his most costly mode of transport. His current net worth is $3 billion.

Key features: 73 metres in length / 7 guest cabins / Top speed of 16.5 knots / Dedicated wellness deck / 3.5 metre resistance pool / Underfloor heating / Jet Skis

Silver Angel, owned by Richard Caring

Built by: Luxury Italian boatbuilder Benetti. Launched in 2009, the yacht’s interior has been designed by Argent Design and her exterior styling is by Stefano Natucci.

Owned by: Richard Caring, British businessman and multi-millionaire (his wealth peaked at £1.05 billion, so he still makes the cut). Chairman of Caprice Holdings, he owns The Ivy restaurants.

Key features: 64.5 metres in length / Cruising speed of 15 knots / 7 guest cabins / Lalique decor / 5 decks / Oval Jacuzzi pool / Sun deck bar / Aft deck dining table

Lady Beatrice, owned by Frederick Barclay

Built by: Feadship and Royal Van Lent in 1993. Exteriors were created by De Voogt Naval Architects, with interiors by Bannenberg Designs. She cost the equivalent of £63 million to build.

Owned by: Sir David Barclay and his late brother Sir Frederick. The ‘Barclay Brothers’ had joint business pursuits including The Spectator , The Telegraph and delivery company Yodel. Current net worth: £7 billion.

Key features: 60 metres in length / 18 knots maximum speed / Monaco home port / Named for the brothers’ mother, Beatrice Cecelia Taylor / 8 guest cabins

Space, owned by Laurence Graff

Built by: Space was the first in Feadship’s F45 Vantage series , styled by Sinot Exclusive Yacht Design and launched in 2007. She cost a reported $25 million to construct.

Owned by: Laurence Graff, English jeweller and billionaire businessman. As the founder of Graff Diamonds, he has a global business presence and a current net worth of $6.26 billion.

Key features: 45 metres in length / Top speed of 16 knots / Al fresco dining area / Sun deck Jacuzzi / Breakfast bar / Swimming platform / Steam room

Want more yachts? Here’s the handcradfted, homegrown history of Princess…

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Who Owns The Yacht Named Nord?

Russian billionaire Alexei Mordashov is the proud owner of the luxurious 357-foot long yacht NORD, which was built by the same shipyard. The luxury yacht, estimated to be worth at least 500 million, is set to return to Russia after a year of avoiding sanctions that led to the construction of Lürssen Yachts. The yacht, originally Opus during its construction, is a 141.6-meter motor yacht built in Germany by Lurssen and delivered in 2021. It can accommodate up to 36 guests in 20 staterooms and has an impressive top speed of 18.0 knots.

The yacht is currently not listed for sale, but its identity has been revealed as it sets out on another sea trial voyage. With an estimated net worth of 30 billion, Mordashov is the majority shareholder and chairman of Lürssen Yachts. The 465-foot megayacht Nord, owned by Mordashov, is worth 19.8 billion and is packed with world-class amenities. The yacht is the 9th-largest yacht built by Lürssen Yachts and is currently not listed for sale.

In addition to NORD, the Palmer Johnson yacht Lady M, designed by Nuvolari Lenard, is owned by the same billionaire businessman. The yacht is expected to be a significant asset to the Russian economy and the global economy, as it is expected to contribute significantly to the country’s economic growth.

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Debbie Green

I am a school teacher who was bitten by the travel bug many decades ago. My husband Billy has come along for the ride and now shares my dream to travel the world with our three children.The kids Pollyanna, 13, Cooper, 12 and Tommy 9 are in love with plane trips (thank goodness) and discovering new places, experiences and of course Disneyland.

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7 of the largest yachts owned by American sports billionaires, ranked: From Dan Snyder’s Lady S, which has an IMAX theater, to the Dallas Cowboys owner’s $225 million superyacht. The most expensive vessel belongs to an immigrant who once washed dishes for $1.20 an hour.

7. Steve Bisciotti, Baltimore Ravens – Winning Drive, 130 feet-

Yachts are an extension of their owner’s personality, and the 130-footer Westport yacht is no different. As a young boy, the tycoon, who is worth $7.5 billion today according to Forbes, witnessed his father’s demise and the struggles of his middle-class Italian-American household. It was a winning drive that led 23-year-old Bisciotti to Aerotek, a staffing company in the aerospace and technology sectors, with his cousin Jim Davis.

6. Terry Pegula, Buffalo Sabres – Top Five Yacht, 200 feet-

The son of a truck driver from Quebec relied on his science degree in petroleum and natural gas engineering and $7,500 from family and friends in 1983 to start his natural gas drilling company. The 73-year-old made a fortune in oil and gas before transforming it into a sports empire that includes the Buffalo Bills and Buffalo Sabres. The father of famous professional tennis player Jessica Pegula saw many highs, but the one we like most is the $75 million Royal Hakvoort vessel named after the owner’s five kids. The tycoon, worth $10.8 billion according to Forbes, has shown the world how to have a fun time with family when you can splurge $500,000 per week.

5. Stanley Kroenke, Los Angeles Rams – Aquila yacht, 281 feet-

This 77-year-old sports mogul has been honing his business acumen since childhood. Raised in Mora, Missouri, he started sweeping floors at his father’s lumber yard and managing the company’s books by age ten. After earning his MBA in 1973, he met Wal-Mart heiress Ann Walton in Aspen and married her a year later. In 1985, he launched his own real estate development company, and by 1994, he ventured into sports team ownership. With a net worth of $16.9 billion, the billionaire now commands an impressive portfolio, including the Denver Nuggets, Colorado Avalanche, Colorado Rapids, and the U.K.’s Arsenal soccer club. A major landowner, with over 1.6 million acres of ranches across the U.S. and Canada also owns the majestic Aquilla superyacht with his wife, Walmart heiress Ann Walton.

4. Arthur Blank, Atlanta Falcons – Dreamboat, 295 feet

This 81-year-old New York-born businessman founded Home Depot after being fired from a hardware store. As it turned out, this setback led to a revolutionary success, transforming the home improvement industry and making the Babson Institute graduate a billionaire . Worth $9.1 billion today, the father of nine from three marriages retired as Home Depot’s co-chairman in 2001 and purchased the NFL’s Atlanta Falcons for $545 million in 2002. He also commissioned the massive ‘DreAMBoat,’ highlighting his initials (Arthur Morris Blank), built by Oceanco with interiors designed by Terence Disdale.

3. Daniel Snyder, Washington Commanders – Lady S, 305 feet

Snyder is an enterprising businessman worth $4.5 billion who, as a 20-year-old college dropout, made his first million leasing jets to fly college students to spring break in Fort Lauderdale and the Caribbean. The 59-year-old operated that business out of his parents’ apartment. With a successful business called Snyder Communications, he had enough wealth to buy the NFL’s Washington Commanders for $750 million in 1999. Ten years later, the boy who mopped the floors at the cafeteria inside the National Institutes of Health as a high school student splurged on a whopping $192 million yacht, Lady S.

2. Jerry Jones, Dallas Cowboys – Bravo Eugenia, 358 feet

From co-captaining Arkansas’ 1964 national championship football team to acquiring the Cowboys from H. R. “Bum” Bright for $140 million in 1989 (now valued at a staggering $9 billion), the 81-year-old billionaire worth $14.5 billion has showcased that sports run deep in his veins. His passion extends to art, with a collection that includes masterpieces by Picasso, Renoir, and Matisse. His $225 million Oceanco-built superyacht stands as a testament to luxury, adorned with art, bespoke furniture, and Swarovski details, all reflecting his wife Gene’s exquisite taste.

1. Shahid Khan, Jacksonville Jaguars – Kismet, 400 feet

The poster boy for rags-to-riches tales, billionaire Shahid Khan went from washing dishes for $1.20 an hour to taking delivery of one of 2024’s largest yachts. The $360 million superyacht Kismet , meaning ‘destiny,’ is a lavish Lürssen vessel that comes with exciting features like a Balinese spa, a gym, two movie theaters, and three swimming pools. The Reymond Langton-designed floating palace, dubbed a cathedral of design in his own words, is a huge leap from a teenage migrant boy grinding away in a YMCA kitchen.

Frank Fertitta III, Former UFC owner – Viva, 308 feet-

The fabulous Feadship mammoth, the Viva yacht , which won accolades like Motoryacht of the Year in 2022, deserves a mention despite her owner, Frank Fertitta III, having sold his stake to an investment group led by WME/IMG for $4 billion in 2016.

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Watch CBS News

Senate committee votes to recommend holding Steward CEO Ralph de la Torre in contempt

By Neal Riley

Updated on: September 19, 2024 / 1:12 PM EDT / CBS Boston

WASHINGTON - A U.S. Senate committee voted unanimously on Thursday to take steps to hold Steward Health Care CEO Ralph de la Torre in civil and criminal contempt for defying a Congressional subpoena.

The committee is investigating the bankrupt company that has struggled to sell more than three dozen hospitals that it owns in eight states. Last month, Steward closed two Massachusetts hospitals after it said it could not find qualified bidders for the facilities.

The is the first time the Senate Health, Education, Labor and Pensions Committee has ever recommended contempt action against a witness. The resolutions to hold de la Torre in contempt passed 20-0 and will now go before the full Senate for consideration. If held in contempt, de la Torre could face fines or jail time for failing to testify.

Steward Health Care CEO Ralph de la Torre refused to testify

De la Torre did not show up to testify to a Sept. 12 hearing where he was subpoenaed to testify. 

"For months, this committee has invited Dr. de la Torre to testify about the financial mismanagement and what occurred at Steward Health Care," Committee chairman Sen. Bernie Sanders of Vermont said. "Time after time he has arrogantly refused to appear." 

Attorneys for de la Torre sent a letter to the Senate committee Wednesday, saying that he was invoking his Fifth Amendment right to not testify. He has denied any wrongdoing and a spokesperson said the hearings should be postponed until Steward is finished with bankruptcy proceedings . 

"The U.S. Constitution affords Dr. de la Torre inalienable rights against being compelled by the government to provide sworn testimony that is specifically (yet baselessly) sought to frame Dr. de la Torre as a criminal scapegoat for the systemic failures in Massachusetts' health care system," the letter said.

CBS News previously reported on how de la Torre and private equity investors have extracted hundreds of millions of dollars from Steward's hospitals while health care workers and patients have struggled to get life-saving supplies. He acquired a 190-foot yacht in 2021 estimated to be worth about $40 million while Steward owners paid themselves millions in dividends.

 A federal grand jury in Boston is looking at the pay, spending and travel of de la Torre and other top company executives, a personal familiar with the matter told CBS News.

"Today we are making clear to Dr. de la Torre and the other CEOs, private equity investors and corporate executives who treat the health care system like their own personal piggy bank that your millions do not shield you from accountability to a legal order issued by the United States Senate," Sen. Ed Markey of Massachusetts said. 

• Steward Health Care
• Ralph de la Torre

Neal J. Riley is a digital producer for CBS Boston. He has been with WBZ-TV since 2014. His work has appeared in The Boston Globe and The San Francisco Chronicle. Neal is a graduate of Boston University.

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