An American billionaire has ignited a firestorm of criticism online after revealing extravagant plans for a future superyacht, with many struggling citizens labelling his comments as tone-deaf and hypocritical.
The Lavish Yacht Requirements
Grant Cardone, a 67-year-old businessman and equity fund manager overseeing assets worth $5.3billion, faced intense scrutiny following a conversation with influencer Enes Yilmazer. Cardone detailed the essential features for his planned mega-yacht, stating it must be at least 240 feet long and weigh a minimum of 2,500 tons. He cited a previous charter on a 180-foot, 650-ton yacht named 'Papa' as inspiration, but claimed it was too small for his needs.
His specific demands included an air-conditioned indoor gym to prevent his exercise equipment from overheating. The staggering operating costs were laid bare, with Cardone estimating the vessel would cost between $15 and $20 million a year to maintain, equating to roughly $1.5 million per month.
Public Backlash and Accusations of Hypocrisy
The revelation was met with widespread derision on social media. Financial wellness YouTuber Graham Stephan expressed bafflement, breaking down the monthly cost further. "That's $50,000 a day. A DAY!" Stephan exclaimed. "Just to maintain a boat. That's $34 a minute just to own a boat."
Critics were quick to highlight perceived hypocrisy, given Cardone's frequent public advice for Americans to avoid buying homes and instead invest in rental properties. One social media user pointed out the contradiction: "He supposedly doesn't own a home, but he wants to own a boat? Why not rent a boat whenever you want it?" Another added, "This guy rants about never buying anything, yet wants to sink 20M a year into a yacht. I don't buy it."
Many comments contrasted Cardone's lavish plans with everyday financial struggles. "Here I am stressing about how I'm going to pay for my $250 utilities bill," wrote one person, while others branded him a "scam artist" and called his "arrogance gross."
Cardone's Business and Response to Critics
Cardone, who is also a prominent online influencer, sells a range of seminars and courses through his website, with prices spanning from free to $300,000. This includes 'Cardone University', a business training programme priced at $5,000 for 12-month access.
Despite the recent backlash, Cardone has a history of defiantly responding to critics. In a past video titled 'The OBNOXIOUS Car Video', he addressed his detractors directly: "This is a completely obnoxious... for all the haters and the naysayers... I thought I'd give you something to hate on today because content is king, right?"
The author of the bestselling book The 10x Rule often urges followers to "make success their duty." He stated, "The single biggest financial mistake I've made was not thinking big enough. I encourage you to go for more than a million. There is no shortage of money on this planet, only a shortage of people thinking big enough."
The Daily Mail has approached Grant Cardone for comment on the ongoing controversy.
