Very Bankrupt, Much Wow: Three Arrows Capital Founders Bought A $50 Million Superyacht They Never Got To Sail

“It represents the beginning of a fascinating journey,” said the broker to announce the sale of the $50 million superyacht. It was the largest ever to be sold in Asia by Sanlorenzo, the renowned Italian boat builder. 

The beautiful vessel was set to sail in July, and the buyers were Three Arrows Capital founders Su Zhu and Kyle Davies. It was supposed to be the ultimate symbol of their success, and they gave it a clever name, too. It was called Much Wow, alluding to the doge meme that birthed the dogecoin cryptocurrency.

Except July, for Zhu and Davies, was actually the beginning of the end. It would be the month they filed for bankruptcy, the month they disappeared, leaving Much Wow, the unclaimed trophy, not even fully paid for, waiting at La Spezia on the Italian coast.

Altamira Gold Corp. — sponsored Sponsored · Altamira Gold Corp.

It must feel so long ago for Zhu and Davies now, so much has happened just in the past few months. Three Arrows Capital, or 3AC, once enjoyed the status of being one of the world’s biggest crypto holders. Just a month before the Terra-LUNA collapse in May, 3AC was managing about $3 billion in assets. 

Zhu and Davies founded the Singapore-based hedge fund in late 2012 and started with just $1.2 million, and then their focus shifted to cryptocurrencies where they found huge success. Until recently.

Much Wow isn’t officially back on the market yet, but according to Intelligencer, word is going around in the very small circle of superyacht-dealing that a Sanlorenzo 52Steel superyacht is looking for a new owner.


Information for this briefing was found via Intelligencer, Twitter, and the companies and sources mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Why Is This $1.5 Billion Gold Story Worth Just $37 Million? | Fredonia Mining PEA

This Copper Stock Exploded Before Anyone Knew the Grade | Decade Resource

Silver Miners Will Crush Gold Miners | Adrian Day

Recommended

Mercado Minerals Signs LOI for La Franca, Adding 750 Metres of Undrilled Vein at Zamora

Goliath Hits Visible Gold In Bonanza Zone Step-Outs, Drills 9.12 g/t Gold Equivalent Over 11.27 Metres

Related News

3AC Founders’ Whereabouts “Currently Unknown”, Ghosted Zoom Calls

The physical location of the founders of the troubled Three Arrows Capital is “currently unknown,”...

Monday, July 11, 2022, 09:56:00 AM

Bankrupt Hedge Fund Three Arrows Capital Founders Shoot For $25-Million Crypto Exchange

The founders of the now-bankrupt crypto hedge fund Three Arrows Capital (3AC) Su Zhu and...

Monday, January 16, 2023, 03:40:38 PM

3AC Bankruptcy: Founder Zhu Su Among Liquidation Claimants With US$5 Million Loan

Can you lend your own money to your company? In what seems to be an...

Monday, July 18, 2022, 02:13:00 PM

Crypto Contagion Explained: Who FTX is Taking Down With Them

How bad is the crypto world about to get?  Well, if you haven’t been paying...

Sunday, November 20, 2022, 01:30:00 PM

Voyager Digital Reveals $655 Million Exposure To Three Arrows Capital

It appears that Voyager Digital (TSX: VOYG) may be in trouble with respect to its...

Wednesday, June 22, 2022, 08:11:39 AM