Wealthy individual acquires Dutch yacht manufacturer constructing luxury vessels for affluent individuals, including Jeff Bezos.
Valve Founder Acquires Luxury Yacht Builder Oceanco
In an unexpected move, Gabe Newell, co-founder of Valve Corporation, has purchased Dutch superyacht manufacturer Oceanco. The acquisition was announced in a press release on August 1st.
Known for building fully customized yachts priced in the nine-figure range, Oceanco is a leader in the superyacht market, renowned for its ultra-luxury and large sizes. The press release states, "What happens when yacht builders talk to world builders? When craftsmen gain access to technologies usually reserved for game developers and mad scientists? You get innovation that not only looks good, it feels good."
Gabe Newell's technical background from his work at Valve, the company behind popular video games such as "Half-Life" and "Portal" series, and Steam, the largest PC gaming platform, may influence production at Oceanco. According to the press release, Gabe Newell plans to "leave the team alone" after the purchase, but there is hope that his expertise will bring new technologies and innovations to Oceanco's yachts.
Gabe Newell already owns at least one Oceanco design: Draak, a 91.5-meter-long yacht with a helicopter landing pad, spa, fitness center, and swimming pool. Rumors suggest he is the future owner of the Oceanco Y722, an 111-meter project set to be delivered later this year.
The prices of new deliveries from Oceanco are largely kept secret, but the price range of the six Oceanco yachts currently for sale can vary from $5.8 million (approximately €5 million) to $341 million (around €294 million). Smaller Oceanco deliveries can be under $10 million, but the most iconic, newer superyachts from this builder command prices well into the hundreds of millions range.
Oceanco's yachts for sale can start from about $5.8 million for smaller custom models (around 49 meters), but larger, more recent custom builds by Oceanco are likely to cost significantly more, often exceeding $100 million. Superyachts of 80+ meters by Oceanco, like the custom Alfa Nero (82m), are multi-deck luxury vessels with state-of-the-art features, and their cost can be expected in the high tens to hundreds of millions of dollars.
The largest ship built by Oceanco so far is Koru, a 127-meter-long sailing yacht owned by Jeff Bezos. The construction of Koru had some controversial moments, including a demand to demolish a historic bridge and a fine for failing to properly trace the origin of teak wood used in the yacht.
Neither Gabe Newell nor Oceanco responded to requests for comment from our website regarding the acquisition and the future plans for the company.
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References:
- Superyacht Times
- Boat International
- Yacht Harbour
- New York Post
- What could be the potential impact on the superyacht market as Gabe Newell, known for his expertise in finance, business, and technology from his work at Valve and Steam, now owns luxury yacht builder Oceanco?
- In light of Gabe Newell's acquisition of Oceanco, will lifestyle elements from the gaming industry, such as virtual reality or immersive experiences, find their way into Oceanco's ultra-luxury yacht designs?
- What role might the sports industry play in the collaboration between Gabe Newell and Oceanco, given their shared appreciation for innovation and performance?
