You know the worlds got it's priorities right when we build stupid things like this for people with TOO MUCH money.... -_- It's not like the worlds running out of resources or anything...

I am going to have to agree with Micheal here, who gives a dam about this boat, its not exactly ground breaking, its nothing more than a wow factor, as in "wow, what a waste of money and why the hell am I reading this crap".

You're right, the world isn't running out of resources. And the amount of activity involved in designing and building this will keep many people active and working, employed and fed for the duration of its construction--not to mention the effort needed to keep it afloat.
Enjoy the technology on this site or preach poverty and neoluddism, you can't really do both and be philosophically consistent.
And what the heck is "too much money"?

Oh no!
Are the carbon fibre mines running out, Michael?
It's not like they'll be making these things in their thousands, you know...
And Dan: what, exactly, is wrong with "wow!"?

Fifty million bucks for a toy. wow. Is this a record? When it gets written off by some billionaire's spoilt kid, thats what we really want to see!

Actually the carbon fiber mines are running out!! Facts are the energy, etc needed to make CF is what is running out. And why would one use CF in this craft? It won't decrease weight more than a rounding error over medium tech composites that cost 10% as much.
Unless 20+ people live on this ear full time it has little but waste.
Next getting to NY in 5 days under sail isn't going to happen in such a craft. 10 woulde be more ;like it and even then one wouldn't be comfortable in the conditions/storms needed to do even that.
Next one isn't going to put their extremely expensive McLaren in a salt water environment.

Carbon mines? Carbon fiber is usually a petroleum or coal tar product. Although it would take an obscene amount of money to build and buy this thing, it would provide an incredible amount of middle class jobs that could not be readily outsourced. It would provide good job training and hopefully open up more opportunities for innovation in the future. Of course all this would be happening near Monaco where Ultraluxum is based. Take the Stratolaunch project: It is creating a huge amount of middle class jobs. yes, Paul Allen is rich. If the government took his money for redistribution it would just be wasted. Instead, innovation is alive and well in Mojave. The doubters will be silenced and a SpaceX Falcon 9 rocket will be launched to space from between the fuselages of a monster jet. Families will have breadwinners building the thing. I say build the boat. Silence the critics.

Hey Bill do you think there would be any critics here? http://www.gizmag.com/tokelau-island-solar-power/23448/

re; jerryd
In ancient Rome bronze became cripplingly expensive (The tin mines were played out) there was a great deal of complaining that civilization was going to collapse and that there was no hope. But then a wiley entrepreneur hunted down the source of a grey metal and learned its secrets. Iron went from being had only by the rich in extraordinarily expensive imported bobbles to being cheaper than bronze had ever been converting the legions from ranks of bronze to ranks of iron. Incidentally new sources of tin were found but it didn't make the the discoverers rich because iron is better than bronze in most applications and with the reduced demand the price tin and bronze plummeted.
Carbon fiber can be made from rayon by cooking it as some extreme temperatures in an oxygen free environment.
Rayon is a manufactured regenerated cellulose fiber and is made from wood pulp.
"We're running out and disaster will ensue." is an old old song and almost inevitably wrong. When the natives of Easter Island killed the last of the trees that made adequate boats to move the giant heads they trapped themselves and cut themselves off from there primary food sources. The problem there was not inadequate resources but human stupidity. There is evidence that some of the rational amongst them escaped over the sea in the fishing fleet but the last time I checked that was a heretical view.
Don't complain that resources are running out go find other resources.

I always love how the comments of people from any article like this is how the world is going to sh!t and some people are spending their own money on whatever it is they like, the nerve. And how these said people are absolutely stupid idiots who only had the money given to them or dropped in their stupid laps, or inherited.
Realistically if someone earns a lot of money they should be able to spend it however they please, most people who have this much money are work-aholics who rarely have time to enjoy all the money they earn, and when they do have time they go all out, good for them.