February 1, 2023

Kiwi billionaire Graeme Hart sets sale: $265m superyacht Ulysses snapped up

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By Simon Maude From Stuff NZ

Reclusive Kiwi billionaire Graeme Hart has finally parted with his superyacht Ulysses for an undisclosed sum.

International yacht brokers Burgess and Fraser confirmed they were acting for both Hart and the mysterious new owner of Ulysses, according to Superyacht Times.

The 107-metre, nearly 6000-ton Norwegian-built vessel had been on the market for more than a year with a price tag of of $265 million.

Ulysses comes equipped with a pool and jacuzzi deck, gym, movie room, pool table and all the necessary watersports equipment, including a twin-hulled on-board vessel the size of the Auckland police launch Deodar III.

The current Ulysses, bearing the Latinised name for the mythic Greek hero Odysseus, is the second superyacht Hart has owned with that name.

Hart’s first Ulysses, a 57.6-metre Trinity, has been renamed Grand Rusalina and is registered in the Cayman Islands.

However, Hart’s recently sold superyaht has not made it down to New Zealand since he took ownership of it.

A glitzy promotional video used to advertise the boat’s leisure capabilities showed pampered guests fawned on by Ulysses crew members.

The guests then enjoyed high-octane watersports, including jet-skiing and dirt-biking on nearby islands reached by the superyacht’s very own landing craft.

The boat is currently moored at the Spanish port city of Malaga.

Even if the superyacht stays docked, whoever bought it can expect to burn through about 10 per cent of the boat’s value each year in running costs alone.

Based on Ulysses’ asking price, that’s a whopping $26 million.

While he’s waiting for his replacement superyacht’s delivery, Hart can fall back on sailing the world in his 77m Weta.

Hart has also ordered a larger boat, which was in planning before Ulysses was even launched in 2016.

The new 116m floating gin palace currently referred to as Hull 370, will of course, boast a helicopter complete with its own hangar.

Marine industry website GCaptain said the new yacht had been designed by Norwegian naval architecture firm Marin Teknikk in co-operation with Kyle Dick of New Zealand-based Oscar Mike Naval Architects.

Hart, 62, can probably afford it. This month, Forbes put Hart’s “real-time” net worth at more than $14 billion, and in March he was named 133rd on the magazine’s list of the wealthiest individuals on the planet.

A school dropout at 16, Hart eventually completed a university MBA and made his fortune in the packaging industry, perfecting what are known as leveraged buyouts.

Hart’s big break came in 1990 when he purchased the Government Printing Office.

In 1991, he bought Whitcoulls Group before steadily started buying and selling larger and larger companies.

Hart’s privately run Rank Group Limited now controls several major multinational firms, including Carter Holt Harvey.

− Sunday Star Times

Ulysses comes jam-packed with watersport toys including jetskis and a tender vessel the size of Auckland police launch Deodar III.
The grand dining table inside the Ulysses.
Of course, Ulysses can land helicopters.
Ulysses can cater to dozens of guests pampered by dozens more crew.
Graeme Hart in 2006.

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