The Worlds Largest Privately Owned Yacht - Octopus

In 2003, the launch of Paul Allen's 127m (416ft) "Octopus" secured its number one position as the world's largest yacht.

Microsoft's "accidental billionaire" Paul Allen - worth US$20 billion according to Forbes, the third richest man in America and 7th in the world - owns two other monster yachts such as Tatoosh ranked 3rd in the world in 2003. Octopus is currently the world's eighth largest superyacht.

Octopus cost Allen over US$200 million and has Permanent crew of 60, including several former Navy Seals.

It has two helicopters, seven boats, a 10 man submarine and a remote controlled vehicle for crawling on the Ocean floor. The submarine has the capacity to sleep eight for up to two weeks underwater.

On average, owners must spend a minimum of 10 percent of the purchase price every year to keep these yachts in good working condition and cover crew salaries. Therefore “Octopus” which cost Allen US$200 million requires a US$20 million annual budget.