Every once in a while, you have to treat yourself to something nice. Admittedly, this happens more often with millionaires and even more frequently with billionaires, but it still makes news when it does because the treats are bigger, fancier, and more expensive.
Take billionaire Rich Handler as an example. The businessman, who has served as the CEO of the Jefferies investment firm since 2001, making him the longest-serving CEO on Wall Street, has just unloaded $65 million in company stock to buy himself a yacht – his first one, from what we can tell.
Handler's net worth is estimated at around $1.6-$1.7 billion, but a big chunk of that is tied up in stock – particularly Jefferies stock. In the 34 years he's been with the company, he only sold shares to raise money for taxes and charity, which makes his decision to do it now as a treat to himself a notable first. Still, he tells one publication, that doesn't mean he's going soft.
The yacht he bought is just as notable and worthy for this first from the CEO. Details are scarce, except for a mention that he bought it from old friend and client Tilman Fertitta. Handler himself confirms this on social media, inserting a joke that a good measure of his company's success is his ability of taking a client's old boat when he, the client, can afford to upgrade.
Photo: Yachting Magazine
"Haha! Maybe the best advertising for Jefferies is that our customers sell us their 'small boats' after they can easily upgrade!," Handler wrote, directly tagging Fertitta.
It might seem like he's shamelessly bragging – which he probably is – but he makes a very fine point. Fertitta is a known and experienced yacht owner, currently on his fifth yacht. It's very likely that Handler bought his fourth. When Fertitta took delivery of the fifth in 2022, he still had the fourth and was saying he had no plans of selling it.
All of Fertitta's yachts bore the Boardwalk name under his ownership, and they were all upgrades of the previous one. For the first four, the Houston-based businessman went with Westport vessels of varying sizes but customized beyond production models to suit his personal tastes and lifestyle.
In 2022, Fertitta took delivery of his first Feadship yacht, the 252-foot (77-meter) Boardwalk. Also then, he was saying that he "loved" his previous boat, the Westport 164, so much that he hadn't yet decided to sell it. He'd only upgraded because that's what people do, he said. We might that: that's what rich people do.
If Handler really did buy the Westport 164 custom yacht, it makes for a perfect starter vessel. Measuring 164 feet (50 meters) in total length and delivered in 2011, this yacht comes with custom finishes designed specifically for its previous owner, including more socializing spaces and different materials than what you'd get in a standard, series-production unit. It's safe to assume that some of those will be changed under new ownership.
Made of fiberglass, the Westport 164 features a hull by William Garden and Taylor Olson and exterior design by Donald Starkey Designs. Power comes from twin MTU 16V 4000 engines that take it to a max speed of 24 knots (27.6 mph/44.4 kph) at half load. Range is an impressive 5,200 nautical miles (5,984 miles/9,630 km) at a cruising speed of 12 knots (13.8 mph/22.2 kph).
Elena has been writing for a living since 2006 and, as a journalist, she has put her double major in English and Spanish to good use. She covers automotive and mobility topics like cars and bicycles, and she always knows the shows worth watching on Netflix and friends. Full profile
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