What's going to happen to Steve Jobs' yacht?

The sleek 256-foot vessel is at the center of an embarrassing pay spat.

By Jonathan Berr Dec 21, 2012 1:30PM
The yacht ordered by Apple's late founder Steve Jobs remains docked at the De Vries shipyard in Aalsmeer, the Netherlands, on October 29, 2012 (ED OUDENAARDEN/AFP/Getty Images)The heirs of the late Steve Jobs reportedly owe nearly $4 million to French designer Philippe Starck, who helped the longtime Apple (AAPL) CEO design a sleek, white aluminum, 256-foot yacht dubbed "Venus," according to media reports.

Jobs reportedly worked on Venus, which is stuck in the Port of Amsterdam because of the pay dispute, for seven years and it shows. Venus looks extraordinary in pictures that have been posted online.  It reportedly has a teak deck along with ceiling-to-floor glass, seven 27-inch iMacs on the bridge and the signature Jobs' minimalist design that makes Apple's products and retail stores engaging to so many people.

The cost of Venus is a matter of some dispute. Starck, who the AP says has been paid 6 million euro ($7.9 million) for his work, pegs the cost at 150 million euro, or about $198 million. Jobs' heirs estimate the vessel costs 105 million euro, or about $139 million, according to the Financial Times. 

"The Jobs family gave each of the members of the shipbuilding staff an elegant thank-you note, along with a token gift of their appreciation -- an iPod Shuffle with the name of the ship inscribed on the back," CNN.com says.

Jobs' widow Laurene and Starck will resolve their dispute eventually, maybe soon. Once she takes possession of Venus, she will need to figure out what to do with it. Because of its size, it isn't very practical to just to keep for family pleasure cruises. Maybe it can be used for some sort of charitable purpose, a fitting way to remember the visionary who was responsible for so many products that are integral parts of modern life.

--Jonathan Berr does not own shares of the listed stocks.  Follow him on Twitter @jdberr.


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41Comments
Dec 21, 2012 3:47PM
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what is fair is if we all paid the same tax rate.  By simple math, those who make more pay more.  I am tired of people thinking that fair is a socialist society.
Dec 21, 2012 3:58PM
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For all of you guys saying the rich should pay more, how much are you willing to ante up to solve our country's problems? How much do you pay now? You people who don't pay taxes and just take government benefits are the priviledged class.

 

I paid around 30% of my income last year between social security and income taxes. I dare each of you that say that the rich should pay more to post your own tax rate and disclose how much you are contributing to our roads, schools and national defense! If you give this a thumbs down, bet you don't have the guts to reply and post your tax rate (and be honest).

 

 

Dec 21, 2012 4:48PM
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Fair is fair is fair

    Lets come up with a flat tax that EVERYBODY pays the same!! Make 15,000 or 150,000,000 everybody pays the same rate no deductions!!!!!

    This usually shuts up those that only want the "rich" to pay there fair share! While they collect benifits and contribute NOTHING!!!

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The whole concept of everyone pay more...might be ok...if the spending was cut to match.

 

There is really no PAY A LITTLE MORE and it will work folks...the math does work out.

 

It's like the budget needs a cut...and those cuts are painful...

 

I work 40 hours a week or more...and after taxes, health insurance and other deduction I get about 1/2 of my pay....to then pay the bills.  I make it work...but it drives me crazy to work in health care and have people ability, and jobs available, and they come into the ER and tell them have insurance and hand me a MEDICAID medical card.   They have iphones, coach purses and nike shoes...many smoke etc.  They don't have insurance...they have a medical card...they shop at the grocery store with food stamps.  We have made these programs so easy for people to get and STAY IN they don't want out...and a second generation is seeing this and doing the same.   In my day as a young adult...you got a job...paid your bills...and the safety net was your family, or church...now you can be single have a baby...get and education free, insurance free, and food stamps free...why would anyone want to work.   When 47% of the population live off of the 53% of the population paying taxes...nothing will get done. 

Dec 21, 2012 3:53PM
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Over a bowl of hot ramen noodles last week, I saw a program which highlighted the use of the megayachts when not in use by their owners.   They're put up the rent.  So couldn't the Jobs estate follow suit of their peers and rent it out for so many hundreds of thousands of dollar per week?  What kinda charity would use such a property?

Dec 21, 2012 2:39PM
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As we can all see, even the uber wealthy have money issues. So while a lot of you are at your rental home or hovel, you can eat you bologna sandwich easier knowing the inheritors of the Steve Jobs billions have "major" issues of their own.
Dec 21, 2012 5:50PM
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I had worked 55 yrs and paid taxes, income, FICA, L&I, and federal and State sales/excise taxes. Fuel taxes and taxes on taxes.
I pay no income taxes on my Social inSecurity benefits but, I still pay taxes on everything I buy except food (which the companies who made it paid taxes).  I pay taxes on my two telephones, including a surcharge for bamaphones.
Saying the government is going broke because I don't pay taxes is dishonest at best..
Using a percentage of income doesn't equate to the amount of dollars taken. Everyone complains about the rich business people not paying their "Fair Share" say nothing about the millionaire sports people and entertainers paying their "Fair share."
Dec 21, 2012 6:33PM
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the government needs to scale back!!!! end the geo political wars !!!!!! stop the police state !!!!! we ought to be free as the founding fathers wished.
Dec 21, 2012 3:58PM
Dec 21, 2012 5:24PM
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They ALREADY PAY a Federal EXCISE tax(Luxury tax) of 13%. Just because someone can AFFORD to pay something doesn't mean the should HAVE TO.
Dec 21, 2012 6:43PM
Dec 22, 2012 4:40PM
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Hope all others have/had a nice Holidays...And Best Wishes for a Prosperous New Year...
Dec 22, 2012 2:07AM
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Gosh.... So many haters! I remember buying my first Mercedes and pulling up to a 7/11 and a homeless person asking me for a dollar. I told him that I didn't have any cash on me and his reply was "You drive a Mercedes and you don't have any cash?" My reply was.... "Your in your 20's and you don't have a job?". No one owes anyone anything!! To Steve Jobs, this was like us buying a starter home or even a used car!
Dec 21, 2012 8:23PM
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Privileged? I started working and moved out on my own at 16, (technically worked since age nine) over the years, I paid an average of approx. 27% in taxes, SS, state, etc.... and only made around $30,000. I see you didn't list the approx amount you made when you stated the "30%" you paid. I am sure your income was considerably higher!  I say all that for this reason, they DO need a fairer system, and not all, but many people in the upper income tiers...... Don't pay close to that! I am not saying everyone, but a large amount, don’t pay their fair share.  The change they are trying to get passed would basically only affect the ones that currently, don’t pay their fair share.  I am republican and believe this would be a good thing.  However, I vote for each person based on their beliefs, integrity etc...... Not just a party vote.

Regarding the comment you made

{"People who don't pay taxes and just take government benefits are the privileged class"}  Unfortunately, I was involved in a boating accident, 19 years ago. I tried continuing to work for 3 years, waited 7 years before even applying for SS Disability, because I felt (feel) guilty not paying my own way! I know that is what the programs are for, but it still doesn't allay the guilt. Especially due to all the fraud and false claim recipients. It makes legitimate claimants, feel even worse when they hear all the comments such as yours..... And things like "If you live off the government, then I pay your bills!  I would much rather PREFER to work, and feel like a contributing member of society, and have a purpose in life!

 

Let me tell you about my: "Privileged status" of paying no taxes and "taking" from the government" Over a 15 year span I paid in excess of $300,000 out of pocket  for medical expenses, even though I have Medicare, Medigap policy (2nd coverage) and a part D Drug benefit plan! I have gone through every penny I have. Even though I thought I would be set when I retired, I have now lost my home (waiting to be kicked to the street). Usually I stretch 1 regular meal to last about 3 days; I can’t afford all my medications... I have quit taking several that I should be taking, and (especially when I am in the donut hole on meds) I stretch out my basics that I must take...... I don't qualify for any "other" asst programs to help (even food assistance) other than my disability, they say I 'make too much money', even though my medical expenses exceed what I receive in SS! They don't take that into consideration, only how much you receive!  I was relieved when they added the option for a Drug policy to Medicare. I thought, 'This will be great, they set a maximum for ‘out of pocket expense’.  It’ll be the deductable and the $4800ish for prescriptions in the donut hole!  Then you will get lower copays on medicines.  What MOST people are NOT aware of is that there are a lot of medications that Medicare doesn't cover, or limits the amount it will allow for a medication, and you have to PAY A CASH price out of pocket. AND that DOES NOT even count toward your total out of pocket expense!!!!   I pay normally over $12,000 yearly out of pocket for medical!!!!!!!   I have now spent the last of my savings, Roth, retirement etc…  And even though I am disabled (prefer limited), and spend most of my time in bed, I will soon be on the street! 

Something virtually unimaginable for someone who believes in keeping their word, hard work, honesty, giving………..   Will now be homeless.  According to you ’I AM PRIVALEDGED’!  I would change it all in a minute if I could.  And though I wouldn’t wish my pain and medical issues on anyone,     I would love to trade with you, and let you be the privileged one!!!!!!!! 

Dec 22, 2012 1:45PM
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Knowing that we will never have a boat like that...err, Ship....

We cannot afford the maintenance,fuel and crew to run her....

So I would just be happy with the dockage, fuel and crew cost....Makes my day...

 

Hey if you got it Jobs family, spend it and enjoy it...

Would have been nice, if it had all been spent here...

Dec 21, 2012 5:18PM
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Jobs, way back when, bought his first high end machine, a Mercedes. As usual the nerd NEVER changed the oil. The engine seized. He, after learning that Mercedes would NOT cover the repair due to his negligence, scammed them by paying off various mom and pop gas stations for bogus oil change receits. Pre-dated of course. Upon returning to Mercedes with bogus maintenance receipts in hand Mercedes conceded and paid for the expensive engine repairs. 

Many here would applaud Jobs for his mind set even though it is a disgusting display of "scumitis." A trait many of you here have no problem with as long as it's lucrative.

Just like Jobs sweat shop Gestapo-like camps better known as Foxconn.

It's too bad Mercedes didn't smell a rat when they were in the presence of. Too bad for the slave labor workers at Foxconn too. 
Dec 21, 2012 5:57PM
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I'll chip in for having the boat sunk.
Dec 21, 2012 4:35PM
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Charity?  Yes, you can round up a bunch of poor rich kids and take them for cruises on the ship.  No it is not a boat.  At that size it is a ship.   How about simply buying it and making into your own country?   You could hire a crew and sail around the world in your own country.   I wonder how does a kid who started out attending a well known extreme leftwing college, Reed College, in Portland, Oregon end up with a boat that cost almost 200 million dollars?

Dec 21, 2012 3:31PM
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............and to think the Republicans think our wealthy friends should not pay just a little more.  I think if Steve was alive he would agree he could afford a tad more.  I love the beautiful boat, would go nicely on the Saginaw River!

 

OT

Dec 21, 2012 3:18PM
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I think anyone buying a yacht should have to pay an extra 39% of its value to the government so that they can pay their fair share. The yacht company would collect it and then give it to the government.

I they can afford a yacht, they can afford that extra 39%.

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