What do you get if you spend $51 million on a super yacht?
If you’re Market America’s JR Ridinger, a 160-foot gas tanker-destroying battering ram.
A better way to spend Christmas Eve would be to…
Here is Ridinger’s 207-foot Utopia IV for reference:
Here is its victim, the 160-foot tanker Tropic Breeze:
On Christmas Eve a few days prior, Tropic Breeze was doing a typical cruise of the Bahamas’ coast of New Providence.
Ridinger’s Utopia IV rear-ended the tanker in the late evening.
Maritime Management is the owner of Tropic Breeze, and they assert
The tanker’s stern was punctured by the collision’s catastrophic force, which caused it to sink to the ocean floor at a depth of about 2,000 feet.
It doesn’t sound like Utopia IV remained after, despite having slight fire damage and scratches.
The crew of the Tropic Breeze was rescued by another passing yacht after being evacuated.
At about 10:03 p.m., the Tropic Breeze was deemed to be lost. Authorities have assessed that the ship and her cargo cannot be salvaged because of the depth of the accident.
Being in the Bahamas, it goes without saying that the environment is a concern.
Tropic Breeze is reported by Maritime Management to
LPG, naval gas, and automobile gas were all considered to be “non-persistent materials,” all of which are lighter than water and will evaporate when exposed to the surface air.
It is unknown if Ridinger (on the right with their wife Loren) was on board at the time of the crash.
In any case, Ridinger is still principally responsible as the boat’s owner.
The event is being looked into by Bahamian officials to see whether any charges will be brought.
Ridinger and his family are thought to have a $300 million net worth after founding Market America in 1992.
According to Market America’s annual Income Disclosure Statement for 2020, which was released in 2019:
Of its 37,000 active distributors, 24% earned less than $290, 38% between $291 and $3189, 7.5 % between $3190 and $38,839, and 0.7 % earned more than $38,840.
The data above should be noted as pre-expenses and do not include distributors that joined Market America in 2019.
When this article was published, Market America’s website was down, so I started hunting for an updated IDS.