A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox.
A megayacht once valued at more than $300 million was sold by the U.S. government for $187 million to an Emirati billionaire whose family has a business partnership with the Trump Organization, according to government documents and yacht industry executives.
Amadea, a 348-foot yacht seized by federal authorities in 2022, was part of a financial crackdown on Russian oligarchs following the country’s invasion of Ukraine. After a lengthy legal battle, the yacht was auctioned off by order of the Justice Department in September.
Neither the price nor the buyer was announced by the government, yet a government document reveals the purchase price was $187 million. The buyer was Abbas Sajwani, the 27-year-old son of Dubai property…
