Billionaire's Luxury Superyacht Destroyed After Falling Off Cargo Ship

An Italian billionaire's prized superyacht was destroyed after it fell off a cargo ship. The $38-million, 130-foot yacht, named MY Song was on its way to the Italian island of Sardinia to participate in the Loro Piana Superyacht Regatta when its cradle collapsed, and the boat slipped into the sea.

The owner of the shipping company pointed out in a press release that the cradle was "owned and provided by the yacht, warrantied by the yacht for sea transport and assembled by the yacht's crew."

The crew never lost visual contact with MY Song as they waited for a third-party salvage company to arrive. Once the salvage team arrived, the cargo ship continued on its journey. None of the other yachts onboard were damaged.

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