Despite heavy competition, Microsoft co-founder Paul Allen emerged as obnoxious billionaire of the week, amid reports that his 300-foot luxury yacht destroyed 14,000 square feet of protected coral reef near the Cayman Islands.
According to the Cayman News Service, the anchor chain of Allen’s yacht, the MV Tatoosh, caused “extensive damage” to the reef earlier this month. The incident comes just five months after Allen announced that he would provide funds for research to “stabilize and restore coral reefs” through his Seattle-based company, Vulcan.
A spokesman for Vulcan said Wednesday that the boat’s mooring position was “explicitly directed” by the local port authority and that Allen was not on board at the time. It added that Vulcan and the ship’s crew had immediately moved the ship from the affected area and were “actively and cooperatively working with local authorities to determine the details of what happened.”
Well, OK…but still, bad billionaire! Coral is precious. Fat Cats should be more careful.