The Cayman Islands-registered yacht bought by Three Arrows Capital co-founders Su Zhu and Kyle Davies, famously named ‘MUCH WOW,’ has ended up in Malta. The yacht, now rechristened the ‘RMF,’ arrived in Malta from the port of Yasmine Hammamet in Tunisia last week.
The 52-meter RMF was ordered by the crypto duo near peak prices to be built by Sanlorenzo Yachts, a famous Italian yacht manufacturer, and had an interior designed by another high-end Italian yacht-adjacent company, Oficina Italiana Design.
As prices collapsed, Zhu and Davies were, according to a New York Intelligencer article, unable to afford the last payments on their luxurious new toy so the massive boat sat moored in La Spezia, Italy, unsold and with a shrinking market of potential buyers.
But vessel-trackers now suggest that the boat was purchased from Sanlorenzo sometime in late September or early October, with the boat being moved to another location in La Spezia. It’s presently berthed in the port of Vittoriosa, Malta, which houses several mega-yachts and is renowned for its majestic historic fortifications.
Zhu and Davies were reported to have fled to Dubai after their hedge fund collapsed and are currently being sought by creditors. A court in Singapore has also approved the liquidation of their fund.
Protos couldn’t verify who now owns the yacht or what they paid for it but as soon as we find out, we’ll let you know.