German Billionaire who cut employee wages treats himself to a $100mn yacht

This case is akin to new age feudalism, where the landlord trades money for employee hours. Reinhold Wṻrth, a German Billionaire, has ordered 1,250 of his 5,000 employees in Germany to reduce their working hours and cut their pay by 15 percent, all in a bid to buy himself a luxury mega yacht worth $100 million. A solidarity pay cut of 5 percent has been forced upon the rest of the workers. The 85-meter long white ship, built at the Oceano dock near Rotterdam, is equipped with two diesel engines from German Motor Company MTU with a horsepower of 4,680 and can reach a speed of 18.5 knots.

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The interiors are equally majestic, with a large cabin for owners, a VIP suite, and luxury cabins for 14 other guests. What instigates more suspicion is that he asked the guests at the yacht’s launch party to be “Discreet.”

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