With all the depressing talk about the stock market (the Dow fell close to 200 points today), and struggling banks (Citigroup chairman Dick Parsons said today he had no idea when the bank would be able to pay back the $45 billion it's borrowed), it's nice to see that some people are still spending recklessly and entertaining the rest of us in the process. Despite the fact he's lost an estimated $20 billion amid the economic meltdown, Russian oligarch Roman Abramovich's latest toy —the world's largest and most expensive privately-owned yacht—made an appearance late last week.
More than 500 feet in length (and completed at a cost of nearly $500 million), the Eclipse boasts a missile defense system, armor plating, bulletproof windows and an "escape submarine," which are all good things to have if you're a kidnapping target, or if you just feel like occasionally cruising the waters off the coast of Somalia. There's other stuff aboard the boat besides heavy-duty military equipment, of course. The boat also comes equipped with a pool, movie theater, library, restaurant, and private garden.
Sadly, while the yacht would make the ideal setting for the upcoming party for POP, the "indie" fashion magazine that is now edited by Abramovich's girlfriend, Dasha Zhukova (it's scheduled to relaunch in September), it probably isn't in the cards. The yacht still requires some finishing touches and won't be completely done until early next year. Good thing Abramovich still has three other mega-yachts to his name, including one that happens to be 377 feet long and the 14th largest yacht in the world. Otherwise the couple could have been forced to spend hot summer days riding the Log Jammer at Six Flags, a plan that clearly wouldn't have worked out now that the theme park has filed for bankruptcy.