With great yachts come even greater bills, just ask Australian tycoon Carl Le Souef
Carl Le Souef has spent nearly two decades chasing his dream of building the world’s largest superyacht, the 728-foot Somnio. But as he’s now learning the hard way, passion alone doesn’t pay the bills, money does. Touted to cost an eye-watering $500 million, the ambitious project enlisted British superyacht design powerhouse Winch Design, which began work on the groundbreaking vessel in 2019.
Now, however, Somnio has made progress only in courtrooms, as the British designers have sued the very businessman meant to bankroll their efforts. The High Court of Justice in London has ordered Le Souef to pay £733,750 ($920,000) in unpaid invoices to Winch Design for their work on the mammoth residential yacht. According to the contract, Winch was set to receive $6.5 million in staggered payments. Yet, after receiving an initial $250,000 installment on April 15, 2021, the subsequent three invoices, issued between April 27 and May 19, 2021, were left unpaid.
Faced with financial uncertainty, Winch Design chose to set aside their artistic vision in favor of pragmatism, halting all work on the project and taking Le Souef to court for the outstanding sum. On January 23, the judge ruled that Le Souef was personally liable and ordered him to pay nearly $920,000 plus interest.
Somnio superyacht, A dream too good to be true?
It’s easy to see why those involved in Somnio were captivated by its promise. Named after the Latin word for “to dream,” the 33,500-ton vessel was envisioned as the ultimate fusion of a luxury cruise ship and a private superyacht. From Le Souef, who had been planning its design and construction since 2007, to Winch Design, which was once “very excited about its potential involvement,” many had hoped to transform this extravagant vision into reality.
The project was backed by 39 ultra-wealthy individuals, each buying a customizable apartment (starting at $11.2 million) aboard the $500 million floating palace. Construction was set to begin at Norwegian shipyard Vard, with a mid-2024 launch under the supervision of Erik Bredhe, former captain of The World, a 644-foot private residential vessel.
According to The Sun, Somnio was designed to offer a six-star floating lifestyle, featuring two fine-dining restaurants with al fresco options, a sprawling 10,000-bottle wine cellar and tasting room, a top-deck lounge and library, a casual sports bar, and the Connoisseur Club, offering fine liquors and an exquisite cigar selection.
For the discerning few, there was even a café-style marketplace for fresh gourmet produce, a state-of-the-art spa, a private movie theater, world-class medical and fitness facilities, an onboard beach club, and an array of watersports equipment and boats.
Sound like a dream? It certainly was. But with legal battles overshadowing construction, Somnio may remain just that, a dream, unrealized.
Who is Carl Le Souef?
Carl Le Souef first made his fortune in skincare, founding Australia’s top-selling brand, Dr. LeWinn’s Private Formula. In 2009, he negotiated its sale to a U.S.-based pharmaceutical giant. Today, he remains actively involved in Somnio Global, a sustainability-focused company, and manages his family’s private investments. Whether Somnio will eventually sail remains to be seen, but for now, the dream is tangled in legal and financial turmoil.
