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Yacht Barracuda Valetta - George Economou - Dry Ships

Barracuda Valetta  - sailing yacht  - 50.0m (164ft)  -  Perini Navi -  2008

George Economou  -  net worth > US$ 500 million  -  Greece

Dry Ships Inc  -  www.dryships.com

George Economou is the owner of the sailing yacht Barracuda Valetta. Economou is the CEO of Dry Ships Inc, which owns and operates a fleet of deepwater drilling units, dry bulk carriers and tankers. Dry Ships, founded in 2004, owns 11 offshore ultra deepwater drilling units, 42 dry bulk carriers and 10 tankers. The company grew into one of the largest US listed drybulk company in fleet size and revenue and the third largest Panamax owner in the world. In 2013 DryShip realized a revenue of US$ 1.492 billion, with appox. 2,000 employees. Clients include Lukoil, Petrobras, Total, Repsol and ConocoPhillips. George Economou is CEO and Chairman of DryShips and holds approxx. 15% of the shares, through several holding companies, such as Elios Investments, Fabiana, Goodwill Shipping Company, Sphinx Investment Corporation and Entrepreneurial Spirit Holdings. He also holds 22% of Ocean Rig UDW, while the remaining shares are held by DryShip. Economou owns several other companies, which provide services to DryShips, such as Cardiff Marine Inc, which is technical and commercial manager, TMS bulders, which provides management services, and Vivid Finance, which provides financing advice and receives a fee of 0,2% of any finance transaction, Fabiana which provides the service of the CEO for USD 3.6 million a year. In 2008, Forbes estimated the net worth of George Economou at USD 1.7 billion, but due to the difficult market situation his net worth is now considerable less. Economou’s sailing yacht Barracuda Valetta was built by Perini Navi and delivered in 2008. She is available for charter for EUR 195.000 per week.

sailing yacht Barracuda Valetta

The sailing yacht Barracuda Valetta - owned by George Economou

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