NY Time’s weekly Wealth Matters column reports that one billionaire believes that his purchase of his super yacht serves a philanthropic purpose, saving jobs of hundreds. The article begins:
DENNIS M. JONES was struck by an intriguing coincidence when he took delivery of his custom-built 164-foot superyacht: The $34 million he paid for it was equal to the $34 million he had donated to charity since 2000. The contributions helped the neediest around St. Louis get an education, get healthy or get a fresh start.
But the money spent on the yacht helped save the shipbuilder and the jobs of the hundreds of people it employed.
Could the purchase of a such a yacht be more than an act of self-indulgence? Could it provide something as significant, Mr. Jones wondered, as the financial aid he has given to children, homeless people, drug addicts and groups that promote education and entrepreneurship?