- Jefferies CEO Rich Handler sold $65 million of stock — some of which he used to buy a superyacht.
- He purchased Boardwalk from billionaire friend and client Tilman Fertitta.
- Here's a look at the multimillion-dollar superyacht.
Earlier this week, Jefferies CEO Rich Handler sold $65 million worth of stock in the investment bank — enough to warrant a press release — partly to buy a yacht from his friend and client, hospitality billionaire and Houston Rockets owner Tilman Fertitta.
"My sale of shares today was a gift to myself and my family," Handler said in the release.
It's a pretty good gift. The boat in question is a 50-meter superyacht named Boardwalk.
According to the yacht's shipyard, Westport Yachts, the off-market deal was pending as of last month. The sale price isn't public.
Boardwalk, which is currently moored in Fort Lauderdale, Florida, was originally delivered in 2010. She features a spa pool and helipad on her sun deck, as well as multiple bars and 15 bathrooms, of which at least one has a television. The master cabin has a dressing room and a private study, and there are scooters on board to make getting around easier — and more fun.
She can fit 12 guests and 12 crew members, according to industry source SuperYacht Times.
"It isn't cheap, I can tell you that. I just love it," Fertitta told a local ABC affiliate in 2017, referring to Boardwalk's $40 million price tag.
While Boardwalk is technically part of "a series" — one of a fleet of boats built by the shipyard of this size and general design — Fertitta made many custom adjustments, adding lights throughout and opening up spaces to create a less formal feel, he told Yachts International in 2011.
Handler has been a guest on the yacht before, landing on its deck via helicopter when it was moored in St. Barts, according to a video posted on Fertitta's Instagram account in 2018.
"It's a shame when you have to pick your friends up to come see you. This is @handlerrich roughin' it to the @boardwalk164," he wrote in the caption.
"It's one of those things that I've always wanted and I'll always have," Fertitta said during the 2017 interview.
While he won't always have this exact boat, Fertitta, who is worth $9.3 billion, per Forbes, will likely always have a yacht and appears to have traded up.
He teased his new, fully custom vessel — a 77-meter giant built by Dutch shipyard Feadship — in 2019. It was delivered in 2021 and is also named Boardwalk.
The new Boardwalk has a more modern design. The gym has a Peloton and a Mirror; there's a sauna and beauty salon; and there are six sit-down bars — appropriate for a hospitality billionaire.
"This takes it to a whole new level," his son, Michael, told Boat International.
Looks like Handler still has something to aspire to.