michael lee chin yacht

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Jamaican Billionaire Michael Lee-Chin New AHPO Superyacht Docks In Portland

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The billion-dollar superyacht was spotted traveling to Portland, where it docked close to the residence of one of Jamaica’s richest men- Lee-Chin.

Chin, who owns the National Commercial bank and a range of related companies, is often given idol status by Jamaican entertainers like Vybz Kartel , who once sang, “me waan get a billion dollar like Mr. Lee Chin.”

The self-made billionaire is just one of 13 black billionaires in the world, and he’s a big deal in Jamaica because of this.

The luxury yacht is docked in Port Antonio, Portland, and is pretty impressive. A video shows the 377-foot yacht sailing while a helicopter seems to land on a helipad right on the deck of the vessel.

According to recent reports, the superyacht AHPO recently completed sea trials and was finally delivered to Chin this week. With his superyacht docked in Jamaican waters, it presented new inspiration for Jamaican people as the business magnate is one of the first black billionaires listed by Forbes’ in 2001 and often referred to as the wealthiest Jamaican.

Michael Lee-Chin’s fortune is mostly his 60% stake in National Commercial Bank Jamaica. His philanthropic acts include his $30 million donation to the Royal Ontario Museum and many other charitable acts in Jamaica.

Like every other billionaire, the tycoon has been described as a “yacht connoisseur.” The AHPO was built by the German Lurssen shipyard and was designed by the famous Nuvolari Lenard studio.

The vessel comes with six decks, including a gym and a beauty salon, as well as a spa, swimming pool, and jacuzzi.

The 70-year-old billionaire who is private about his life also seems keen to entertain as the luxury vessel has a dancefloor with a piano and comes equipped with a movie theater.

There are seven luxurious suites on board for guests to get a good night’s sleep. Other functionalities include Wi-Fi connectivity and a premium underwater lighting system.

The shipyard says the yacht has eco-friendly features, including a Dynamic Positioning capability that helps “preserve delicate marine environments” and a heat recovery system for heating the swimming pool.

Meanwhile, Jamaicans took to Twitter to comment on the news of the yacht in Jamaica.

“Lee Chin yacht a motivate me,” one person tweeted.

“For perspective, the largest private yacht in Jamaica is 92+ft. Lee Chin’s vessel is 377 ft! That’s longer than an NFL football field or a soccer field.”

The billionaire previously owned the ‘Quattroelle’ valued at $250 million prior to owning the AHPO. According to the Jamaica Observer, that vessel was 283 ft long and was one of the most impressive yachts at the annual Monaco Yacht Show.

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Lee-Chin sells megayacht for US$362 million – report

Jamaican-Canadian billionaire Michael Lee-Chin has reportedly sold his superyacht AHPO for a whopping US$362 million (J$55.8 billion), a US$62-million premium to what he paid for the vessel in 2021.

It was purchased by professional hockey player turned billionaire businessman Patrick Dovigi, according to premium lifestyle website Luxury Launches.

The 378 feet superyacht, described as a floating five-star resort, has a capacity for 16 passengers.

The sale of Lee-Chin’s yacht is one in a string of disposals to have taken place since the COVID-19 pandemic in March 2020. Lee-Chin, through AIC (Barbados) Limited, sold CVM Television Limited in September 2022 to Verticast Media Group at an undisclosed price. This was preceded by the sale of Reggae Beach, St Mary, to MJR Real Estate Holdings Limited which is managed by Barita Investments Limited. That 250-acre property was reportedly valued at US$50 million ($7.75 billion).

In February, he sold Medical Associates Hospital to Caribbean Health Systems Limited, a St Lucian registered entity whose principals include Dr Michael Banbury, the former CEO of the St Andrew-based private hospital.

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• December 14, 2021

Lee-Chin’s new billion-dollar yacht docks in Portland

Photo: @HalsallDoug/Twitter

70-year-old Jamaican Billionaire Michael Lee-Chin has had his new billion-dollar yacht doing the rounds on social media after the 377-foot Apho was seen in the waters on the east coast of the island.

The superyacht is a culmination of a collaboration with world-famous shipyard Lurssen Yachts and with the prestigious Nuvolari Lenard design studio. The masterpiece is equipped with six decks, a beauty salon, gym, swimming pool, and jacuzzi. The luxury yacht also boasts an entertainment section, that comprises a dancefloor, piano, and a movie theatre.

Lee-Chin has been a prominent name in business over the last few decades, not only in Jamaica but in the wider region. His fortune mostly comes from a majority stake in the National Commercial Bank of Jamaica as well as other investments which include his ownership of Portland Holdings, an investment company based in Ontario, Canada. In 2001, Michael Lee-Chin became one of the first black men to be listed on Forbes’ annual billionaires’ list back in 2001.

Unknowing to most, the Jamaica-Canadian tycoon is a fond admirer of yachts and is a repeat client of the German shipyard.

One of the most striking features of his latest project is the underwater lights feature that creates a mesmerizing atmosphere in the evening. The yacht was also built to be eco-friendly, including features like Dynamic Positioning capability that aids to preserve at-risk marine elements.

The yacht will eventually become available for charting early next year.

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Jamaican Billionaire Michael Lee-Chin New APHO Superyacht Docks In Portland

The billion-dollar superyacht was spotted traveling to Portland, where it docked close to the residence of one of Jamaica’s richest men- Lee-Chin.

Chin, who owns the National Commercial bank and a range of related companies, is often given idol status by Jamaican entertainers like  Vybz Kartel , who once sang, “me waan get a billion dollar like Mr. Lee Chin.”

The self-made billionaire is just one of 13 black billionaires in the world, and he’s a big deal in Jamaica because of this.

The luxury yacht is docked in Port Antonio, Portland, and is pretty impressive. A video shows the 377-foot yacht sailing while a helicopter seems to land on a helipad right on the deck of the vessel.

According to recent reports, the superyacht Apho recently completed sea trials and was finally delivered to Chin this week. With his superyacht docked in Jamaican waters, it presented new inspiration for Jamaican people as the business magnate is one of the first black billionaires listed by Forbes’ in 2001 and often referred to as the wealthiest Jamaican.

Michael Lee-Chin’s fortune is mostly his 60% stake in National Commercial Bank Jamaica. His philanthropic acts include his $30 million donation to the Royal Ontario Museum and many other charitable acts in Jamaica.

Like every other billionaire, the tycoon has been described as a “yacht connoisseur.” The Apho was built by the German Lurssen shipyard and was designed by the famous Nuvolari Lenard studio.

The vessel comes with six decks, including a gym and a beauty salon, as well as a spa, swimming pool, and jacuzzi.

The 70-year-old billionaire who is private about his life also seems keen to entertain as the luxury vessel has a dancefloor with a piano and comes equipped with a movie theater.

There are seven luxurious suites on board for guests to get a good night’s sleep. Other functionalities include Wi-Fi connectivity and a premium underwater lighting system.

The shipyard says the yacht has eco-friendly features, including a Dynamic Positioning capability that helps “preserve delicate marine environments” and a heat recovery system for heating the swimming pool.

Meanwhile, Jamaicans took to Twitter to comment on the news of the yacht in Jamaica.

“Lee Chin yacht a motivate me,” one person tweeted.

“For perspective, the largest private yacht in Jamaica is 92+ft. Lee Chin’s vessel is 377 ft! That’s longer than an NFL football field or a soccer field.”

The billionaire previously owned the ‘Quattroelle’ valued at $250 million prior to owning the Apho. According to the Jamaica Observer, that vessel was 283 ft long and was one of the most impressive yachts at the annual Monaco Yacht Show.

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The superyacht market is so hot that a billionaire is flipping his luxury vessel at a profit of $55 million. Longer than a football field, it was purchased for $300 million and was delivered in 2021.

[ AHPO listing on Moran Yachts ]

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Jamaicancanadian billionaire michael lee-chin mega yacht sold for us$362 million .

After announcing months ago that his luxurious yacht was up for sale, Michael Lee-Chin finally got an offer he did not let pass. Based on numerous reports, the AHPO mega yacht was sold for US$362 million, which equates to a US$62 million profit for the billionaire.

The buyer of the super yacht is Pro Hockey billionaire turned businessman Patrick Dovigi. Moran Yacht & Ship represented both the seller and the buyer on the sale of AHPO, which was arranged by both sides of the deal. US$355 million was the asking price for the Lürssen superyacht measuring 378 feet.

In addition to the vessel’s massive structure, it features many breathtaking amenities, including a gigantic IMAX cinema, a duplex owner’s suite, a Turkish Hammam, two helipads, and a winter garden.

The vessel can accommodate a large group of nearly twenty people with over 20 crew presenters. Aside from the eight staterooms on the yacht, it also has a large gym fully equipped for full-body exercises. The stunning superyacht was renamed Lady Jorgia following the completion of the brokerage deal. 

RELATED: Lee Chin’s Ahpo Superyacht Selling for US$355 Million

According to reports, Michael Lee-Chin purchased the  A hpo mega yacht in December 2021.

Months ago, it was revealed that the Jamaican\Canadian billionaire was looking to auction off some of his prized possessions.

RELATED: Lee Chin now valued at US$1.5 Billion by Forbes

RELATED: Michael Lee-Chin Shares Message Encouraging Risk-Taking to Achieve Success – See Post

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World’s richest celebrate end of summer at €4bn Monaco yacht show

Number of billionaires interested in superyachts said to have grown despite Russia sanctions and global economic crisis

“C hange the TV channels now,” the captain of a $95m (£85m) Albatross superyacht calls out to a deckhand. “That guy has probably lost two mil in the last two minutes and we’re trying to convince him to drop 95.”

“That guy” is a prospective buyer of the 72-metre long vessel floating in Monaco’s Port Hercules where the world’s richest people (and their entourages) have gathered this week for the annual yacht show . With more than €4bn (£3.5bn) worth of marine luxury on display, it is as brokerage firm Burgess puts it: “The chicest way for billionaires to celebrate the end of summer”.

The TVs on Albatross – there are more than a dozen onboard – are beaming out live coverage of another day of economic chaos on business channel CNBC as the US market open down 2%.

That brief glimpse, before the screens are hurriedly switched off, is the only sign in this millionaires’ playground of the economic trouble affecting the outside world. The sanctions against Russian oligarchs, whose conspicuous consumption has kept European shipyards so busy in recent years, have not spoiled the party. Veuve Clicquot champagne or Whispering Angel rosé is available at some stands for free for anyone with a ticket to the show ( tickets if you were to buy them cost €500 a pop ).

“Of course the industry is impacted [by the global economic crisis], says Francesca Webster, the editor-in-chief of the trade industry publication SuperYacht Times. “But the number of billionaires has grown over the last two years meaning that there has been a rebalance despite the loss of the Russian clientele. Some shipyards are suggesting that the number of serious future clients – aka billionaires – has grown from around 25 to 30, almost all of which are American or Asian.”

Albatross is huge. The principal suite spans the whole 13-metre beam (width) of the yacht and includes a dressing room and two large bathrooms (one with a floral design in silver mosaics, and the other depicting golden clouds). There are five further large bedroom suite cabins, several large salons, a fully equipped gym, an eight-person jacuzzi, and a “touch-and-go” helipad all connected by a glass elevator.

The broker won’t confirm who is selling Albatross, although the six-year-old yacht has previously been reported as belonging to Majid Al Futtaim , an Emirati shopping malls and hotels billionaire who died last December.

It is far from the biggest vessel on show. That title goes to Ahpo, which is 115.1 metres long and moored on the other side of the port. Unfortunately, the Guardian is not welcomed onboard that yacht as “you don’t look like likely charterers”.

It’s a fair cop. Ahpo, which has eight bedroom suites as well as a gym, swimming pool, spa, sauna – and hammam, beauty room, piano bar and dancefloor, costs a minimum of €2.5m a week to charter.

That’s before “expenses”, which include fuel, food, drinks, and docking and mooring fees that can easily run into tens of thousands a night for yachts as large as Ahpo in billionaires’ favourite spots, such as Portofino, the Amalfi coast and Cagliari in Sardinia.

The crew also expect tips in the region of €1,500-2,500 a week each, according to several captains who spoke on condition of anonymity. There are 36 crew members on Ahpo.

Despite the costs, a broker at Moran, which arranges charters, says the yacht was rented for six weeks this summer and is “fast booking up for next year”.

Tristan Hooper, the captain of Luna B, a 66-metre yacht available for charter at a more reasonable €500,000 a week, says the vessel was rented for 12 weeks last year and by a wide range of people. “We’ve had all sorts of guests, from A-listers to Middle Eastern royalty,” he says onboard the $60m craft. “We thrive with tall people, because we have a high ceiling height.” (Yes, NBA basketball players have chartered the vessel, but he refuses to name names).

Asked about tips, Hooper says a €2,000 tip is “pretty standard”. “You hear stories of way more than that,” he says. “But on other charters you can be working really hard all week and walk away with nothing.”

The billionaire Jamaican-Canadian investor Michael Lee Chin upgraded to the Ahpo – the phonetic pronunciation of the Chinese pictogram meaning Grand Lady – after selling his $130m Quattroelle to the Crown Prince of Dubai, Sheikh Hamdan bin Mohammed al-Maktoum.

Both were built by Germany’s Lürssen Yachts, which also created Dilbar, the world’s largest superyacht by volume. It is one of more than a dozen superyachts seized from oligarchs subjected to sanctions following Russia’s invasion of Ukraine.

Dilbar, which cost a reported $600m and is allegedly owned by the family of the sanctioned metals magnate Alisher Usmanov , was seized by authorities in Hamburg in April.

Germany said it had detained the yacht, apparently named after Usmanov’s mother, because it was ultimately owned by his sister, Gulbakhor Ismailova. Usmanov has denied this.

This week, German police investigating money-laundering accusations searched the yacht. Prosecutors, who did not name Usmanov, said they were investigating money laundering and tax evasion allegations concerning a 69-year-old Russian business man. A spokesperson for Usmanov, who is 69, said the police and prosecutor investigations were “examples of blatant lawlessness under the guise of the sanctions law”.

The boat builders and brokers in Monaco are reluctant to talk about the impact of Russian sanctions on the superyacht industry despite oligarchs making up a fairly large chunk of the market, particularly at the priciest end.

The former Chelsea football club owner Roman Abramovich has bought seven, and still owns three including the 162.5-metre Eclipse, which was the world’s largest when he bought it in 1998. He has avoided having his yachts seized by taking them to Turkey, while other sanctioned oligarchs have sheltered their boats in Dubai.

It’s all too much for Pauline, one of thousands of people hired to work at the show as stewards, security guards or to pilot small rigid inflatable boats to transport people around the harbour.

“I work at a lot of events, but this is the only one that drives me crazy, it is just so wrong,” Pauline, 27, says as she helps guest to board one of the RIBs. “It’s wrong to be spending all this money on these things, and it’s just terrible for the planet – think how much pollution they make. These are really big buildings on the water. Sometimes I just want to do something to stop it all.”

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Most viewed.

Jamaican\Canadian Billionaire Michael Lee-Chin Mega Yacht Sold for US$362 Million 

After announcing months ago that his luxurious yacht was up for sale, Michael Lee-Chin finally got an offer he did not let pass. Based on numerous reports, the AHPO mega yacht was sold for US$362 million, which equates to a US$62 million profit for the billionaire.

The buyer of the super yacht is Pro Hockey billionaire turned businessman Patrick Dovigi. Moran Yacht & Ship represented both the seller and the buyer on the sale of AHPO, which was arranged by both sides of the deal. US$355 million was the asking price for the Lürssen superyacht measuring 378 feet.

In addition to the vessel’s massive structure, it features many breathtaking amenities, including a gigantic IMAX cinema, a duplex owner’s suite, a Turkish Hammam, two helipads, and a winter garden.

The vessel can accommodate a large group of nearly twenty people with over 20 crew members. Aside from the eight staterooms on the yacht, it also has a large gym fully equipped for full-body exercises. The stunning superyacht was renamed Lady Jorgia following the completion of the brokerage deal. 

RELATED: Lee Chin’s Ahpo Superyacht Selling for US$355 Million

According to reports, Michael Lee-Chin purchased the  A hpo mega yacht in December 2021.

Months ago, it was revealed that the Jamaican\Canadian billionaire was looking to auction off some of his prized possessions.

RELATED: Lee Chin now valued at US$1.5 Billion by Forbes

RELATED: Michael Lee-Chin Shares Message Encouraging Risk-Taking to Achieve Success – See Post

Canadian billionaires lead the way as superyachts arrive in Monaco for F1 grand prix

The absence of Russian superyachts means Michael Lee-Chin's and Lawrence Stroll 's vessels are the largest this year

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Article content

Canadian billionaires Michael Lee-Chin, who is also Jamaican, and Lawrence Stroll are leading the way with their massive superyachts arriving in Monaco ahead of the Formula One Grand Prix.

Topping the list of largest superyachts is the 377-foot Ahpo, reportedly owned by Lee-Chin. The investor’s net worth is around $1.8 billion, Forbes reported .

The yacht, designed by Nuvolari Lenard studio, is said to have six decks, a full gym, beauty salon, spa, swimming pool, jacuzzi, dance floor and movie theatre, according to the publication autoevolution .

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Coming in second place at 317 feet long is the Faith, owned by Canadian fashion entrepreneur Lawrence Stroll, whose son Lance drives for the Aston Martin F1 team. Lawrence Stroll’s net worth is $2.9 billion, Forbes reported .

Feadship superyacht FAITH in the South of France!🇫🇷 Anchored here last Friday in the South of France and spotted recently in Villefranche-sur-Mer is one of the largest Feadships delivered to date, the 97m Faith, launched as Project Vertigo in 2016. pic.twitter.com/QZBAcP2EcY — Yacht Informer (@yachtinformer) May 23, 2022

The yacht came with a US$200 million price tag. It can host up to 18 guests and has nine staterooms, according to Yacht Bible . It has indoor and outdoor fireplaces in the private owner’s deck, a movie theatre, gym, a wine cellar and a wellness area.

The nearly 100-year-old annual race is expected to see some showers over the next couple of days, though it’s not expected to deter the floating party scene. More than 80 super yachts, at a combined length of 4.5 kilometers (2.8 miles), are already clustered off the tiny city-state in the French Riviera, with more likely en route.

The Yachts have arrived in Monaco… 🇲🇨🛥 #MonacoGP #F1 #yachtlife pic.twitter.com/1RDD048ZCF — Corinthian Sports (@CorSportsLtd) May 27, 2022

The superyacht world was thrown into turmoil following Russia’s invasion of Ukraine and the sanctions placed on billionaire Russian oligarchs.

More than a dozen yachts worth over US$2.25 billion have already been seized. The seizures have sent the luxury vessels racing across oceans to locales that aren’t as likely to impose or enforce sanctions. Some have logged more than 5,000 nautical miles since the start of the invasion in February.

One of the biggest superyachts, Eclipse, owned by Russian billionaire Roman Abromavich, is 533 feet and would have towered over Lee-Chin’s vessel; however, it was notably absent in Monaco.

One of the first yachts seized, Dilbar , owned by another Russian billionaire Alisher Usmanov, would have also towered over the other vessels in Monaco, at 512 feet. It was impounded by German authorities while it was undergoing repairs, Page Six reported in March. Since then, other yachts and even private jets owned by Russians with connections to President Vladimir Putin have been seized.

The absence of Russian superyachts pushed the two Canadians into the lead for largest yacht — although the country with the most was Greece, closely followed by the United States and France. Russia did not make Bloomberg’s superyacht leaderboard .

With additional reporting by Bloomberg

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