Steve Jobs Commissioned Yacht, Venus, Delivered After Apple Co-Founder's Death, Collides With Another Superyacht Off Italian Coast

The iconic superyacht, Venus, previously owned by Apple Inc.’s late co-founder Steve Jobs, recently collided with another superyacht off the coast of Naples, Italy.

What Happened: The Venus, a 78-meter yacht commissioned by Jobs, collided with the 105-meter Lady Moura on Jul. 22, Business Insider reported on Wednesday. The incident occurred due to a sudden change in wind while both yachts were anchored.

The yacht Venus, designed by French designer Philippe Starck for Jobs, collided with the 105-meter yacht Lady Moura. According to the report, a spokesperson from Laurene Powell Jobs‘ Emerson Collective confirmed the collision.

At the time of the collision, only crew members were present on the yachts. The Italian Marina Militare has not yet commented on the incident, according to the report.

The Venus, now owned by Jobs’ widow, Laurene Powell Jobs, is cruising in the Ligurian Sea, while the Lady Moura has since traveled to Mykonos. Videos on social media show the two yachts coming into contact, but it is unclear which yacht struck the other.

Despite the extent of the damage, which some claim was just a scratch, the cost of repairs will likely be covered by insurance. Venus, worth $130 million upon completion, was delivered after Jobs’ death in 2011. The yacht was built by top yacht builder Feadship and is known for its minimalist design.

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Why It Matters: The incident involving Venus comes at a time when the luxury yacht market is experiencing significant shifts. The pandemic-induced surge in yacht sales is now reversing, with many buyers from the COVID-19 era putting their vessels up for sale. This trend has led to a slight dip in prices, signaling a shift back to pre-pandemic levels.

Additionally, Uber Technologies Inc. recently launched Uber Yacht, offering affordable luxury yacht experiences across European destinations, further highlighting the evolving dynamics in the yacht market.

Moreover, high-profile figures like Bill Gates co-founder of Microsoft Corp. are also making moves in the yacht industry. Gates is reportedly selling a pair of yachts after dropping to his lowest rank on the billionaire list in 34 years.

Recently, Amazon.com founder Jeff Bezos‘ $500 million superyacht has been in the spotlight, with reports indicating it costs $25 million annually to maintain. Despite this hefty sum, Bezos earns that amount in just three hours. This underscores the immense financial resources required to own and maintain such luxurious vessels.

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Image Via Flickr

This story was generated using Benzinga Neuro and edited by Kaustubh Bagalkote