Daniel Loeb’s Yacht Damages Belize Coral Reef (Bloomberg)

[dealmaker]

Daniel Loeb’s Yacht Damages Belize Coral Reef (Bloomberg)
A luxury yacht owned by hedge fund manager Daniel Loeb damaged a pristine reef atoll in Belize near the famous Great Blue Hole, a popular diving site. The 200-foot (61 meter) Samadhi, owned by Third Point founder Loeb, was filmed last Sunday anchored at Belize’s Lighthouse Reef Atoll. A spokesperson said Loeb was not in the vessel at the time. The Financial Times first reported the incident and said there would be an official investigation. A spokesperson for Belize’s Department of the Environment told the FT that the vessel had damaged the area.

 

[mlawson71]

And how long will it take for the reef to recuperate?

 

[Alisha]

It's helpfull, great that you shared this with me.

 

[maxinger]

I wonder how is reef in Spratly Islands.

 

[Same Lazy Element]

And how long will it take for the reef to recuperate?

Depending on the species, the corals grow anywhere from 0.2 to 1 inch per year. So we probably talking hundreds of years to recover the damage. I hope Belize can twist the balls of his insurance company for some money and invest it into some reef recovery programs (environmental damage is usually covered these days, from what i hear).

 

[mlawson71]

I sure hope so, no one in our lifetime will see those reefs back in their former glory.