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Ex Citigroup CEO Selling Yacht for $69.5M

The Sandy Weill sell-off continues

By Rob Quinn, Newser Staff

Posted Dec 23, 2011 4:21 AM CST

(Newser) – After selling his Manhattan penthouse to a 22-year-old Russian heiress for $88 million, former Citigroup chief Sandy Weill is trying to offload his yacht as well. The 200-foot super yacht April Fool, which Weill rarely used in the five years since he bought it new, is being offered for a mere $69.5 million, the Wall Street Journal reports. People in the super yacht trade, however, say Weill is likely to find his boat harder to sell than his Manhattan pad.

"The market’s tough,” says the chief executive of the yacht broker that is trying to find a buyer. “There just aren’t a lot of people around who are looking to spend money on large super yachts. There are plenty of people looking for a bargain, but not a lot of people willing to pay full price." Weill plans to give his penthouse money to charity, and he recently bought an estate and vineyard in California for $31 million, so it looks like he can afford to wait a while for the right buyer.

The 200-foot April Fool boasts a Jacuzzi, a huge master stateroom, and an elevator. (Feadship)

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COMMENTS

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Showing 3 of 10 comments

ChuckRR

Dec 24, 2011 10:11 AM CST

American CEOs are grossly overpaid. The top 500 CEO's made an AVERAGE of $9 MILLION each this year, which was a 12% increase over last year. Hemsley of UnitedHealth Group took home $101.96 MILLION. http://www.forbes.com/lists/2011/12/ceo-compensation-11_land.html SUPPORT OCCUPY WALLSTREET!

BDLS

Dec 24, 2011 8:11 AM CST

He should have kept it for when he needs to flee from that next fraud investigation.

flin1

Dec 23, 2011 1:11 PM CST

Would someone please tell me why anyone would want one of these slow, expensive, pollution belching monstrosities?

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Ex Citigroup CEO Selling Yacht for $69.5M

The Sandy Weill sell-off continues

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