A $51 million yacht owned by multimillionaire JR Ridinger hit a gas tanker near the Bahamas on Christmas Eve, piercing its hull and causing it to sink.
The tanker sank an estimated 2,000 feet, according to the tanker’s management company, Maritime Management LLC. The tanker, named Tropical Breeze, will not be recovered due to the depth of the ocean where the boat sank. The crew of the tanker was rescued by a different yacht.
It is not clear whether Ridinger, the CEO of Market America and Shop.com, was on the boat at the time. Authorities are investigating the incident.
“The Port Department has begun a formal investigation into the incident, and the Department of Environmental Health is also conducting a review of the environmental impact. These activities are currently underway,” the Bahamas’ Ministry of Transport and Housing told the Caribbean National Weekly.
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The management company said the ship’s cargo included nonpersistent material liquefied petroleum gas, marine gas, and automotive gas, which are lighter than water and will evaporate if exposed to air.
The tanker’s management company added that the boat, registered in Belize, had been inspected earlier this month and “was found by the authorities to be fully compliant with all national and international safety and vessel integrity standards.”
It is unclear whether Ridinger will be held legally responsible for the accident and whether there will be a criminal investigation.
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The damage to the yacht, Utopia IV, is not known. The 207-foot yacht was built in 2018 and sleeps 12 people. It also features a glass-bottomed pool and Jacuzzi. The yacht can go up to 33 knots with a normal cruising speed of 26 knots. It is unknown how fast the yacht was going at the time of its sinking.
