Luminosity Gigayacht: A $270M Groundbreaking Vessel Abandoned Before Owner Could Enjoy It

Strangest yet, Luminosity, a gigayacht described by builder Benetti as "art in motion," was never sailed by either owner. Not just that, but they didn't even get to set foot on it, which brings a whole different meaning to the phrase "money down the drain," given its reported $270 million price tag.

"Luminosity is a gigayacht for the 21st century," Benetti says in the official description of the vessel. "A hybrid of technologies and dreams built with a visionary spirit. An innovative, soundless cruising experience." An incredible, ultra-luxurious, fully custom, and most technologically advanced superyacht that has never gone anywhere except out to sea trials. A wonder that the very person who should have enjoyed it more, its owner, never did.

We all have bad and worse days, but the case of Luminosity shows there's truth to the old saying, "The bigger they are, the harder they fall." It's a spectacular case of a spectacular vessel whose steep fall from the top happened even before it got the chance to shine at its brightest.

The sanctions against Russian oligarchs did it, as you might have anticipated. While we're not saying that the fall is permanent, it does offer an insight into the exclusive world of the one-percenters and shows that when they're having a bad day, it's quite possibly the worst.

Luminosity was launched in February 2019 and should have been delivered to the original owner in the spring of 2020. Its design and build took years because the owner, Kutayba Yusuf Ahmed Alghanim, a Kuwaiti billionaire, was very specific in the briefing. A firm believer that luxury is defined by "the volume of space and the air that you breathe," he wanted a gigayacht that would feature incredible amenities and the best open-air feel out of all the other vessels in operation. His yacht had to be a floating palace but made of glass, packed with art, and boasting hybrid tech that would also make it the greenest build around.

It was a hefty task, but Benetti Yards carried it through spectacularly. Based on naval architecture by Azure Naval Architects, with a design by Reymond Langton and Giorgio Cassetta, and interiors by Zaniz Interiors, Luminosity is a mammoth measuring 353 feet (107) meters in length, an interior volume of 5,884 GT across six decks. It is also a fully-custom yacht, offering accommodation for as many as 27 guests and 37 crew, and the most lavish amenities ranging from unique wellness areas to packed tender garages and beautiful art pieces like a bathtub carved out of a single piece of Carrara marble.

As requested in the briefing, Luminosity is a glass palace, in an almost literal sense. It features almost 9,000 square feet (836 square meters) of glazing throughout, the most found on a vessel today. It also features a glass forest in the center: a walkway framed by screens on all sides, with an encased floating glass staircase. As you walk through, the screens come alive with e-flowers, which bloom as you pass – of course, you can set the scene to whatever tickles your fancy, but Benetti advertised this space as a glass forest.

Amenities also include several pools, be they plunges, jacuzzis, or counter-flow, two helipads (one of which is a certified helideck with a refueling station), a spa area with a fully-equipped gym and sauna, and incredible lounges, both indoor and alfresco, where you can enjoy your billionaire lifestyle with like-minded friends. As the video tour below shows, Luminosity is an absolute stunner, elegant and imposing, sophisticated but still welcoming.

That said, the highlight of this megayacht is its ability to cruise with reduced noise and emissions. Luminosity is the most technologically advanced and greenest superyacht around right now, with hybrid diesel-electric propulsion that gives it wide range and reduced environmental impact.

As noted in a separate presentation, Luminosity relies on twin 2,200kW ABB Azipods powered by six Caterpillar diesel generators and large lithium-polymer batteries. It has a range of over 8,000 nautical miles (9,206 miles/14,816 km) at cruising speed and can max out at 16.5 knots (19 mph/30.5 kph) or run hotel functions at anchor for a full 24 hours on batteries alone.

The strangest thing about Luminosity is that it never got its time to shine, even after 3 years from delivery. Alghanim, the original owner, refused delivery only weeks before it was scheduled to happen, so it was listed for sale at €225 million (approximately $245 million at the current exchange rate). Shortly after, it was sold to Russian billionaire Andrey Guryev, who also owns the controversial Alfa Nero, and it was delivered to Montenegro just days before Guryev was included on sanctions lists.

For the past 2 years, Luminosity has been stuck in Montenegro, plagued by various issues and seemingly abandoned by the owner. Guryev has denied being the direct beneficiary (that's “owner" for us, non-millionaires) of Luminosity – and Alfa Nero, for that matter.

Management company Burgess cut ties with the owner as sanctions went into effect, which rendered it unable to pay crew salaries. With a ship over a certain size, you have to have a skeleton crew onboard at all times to run maintenance and for safety reasons, so it's not like Burgess could padlock Luminosity and go about its day.

Two years after sanctions, the last of the original and replacement crews walked off, according to insiders speaking with eSysman Superyachts. Today, the Montenegro government is paying for all fees related to the vessel, including the small crew now onboard. This beautiful, revolutionary, and insanely luxurious gigayacht remains abandoned and, because of it, a burden on the regular taxpayer. It's a $270 million floating palace of glass with incredible green credentials, turned into a $270 million pain in the butt.