While billionaires are happily spending millions to upgrade to even bigger superyachts, this Canadian, who made a fortune from Michael Kors, has sold his $200 million 318-foot vessel and is now getting a smaller boat.

Size matters, and billionaires often demonstrate this by upgrading to larger luxury vessels as their net worth soar. This trend is exemplified by Zara founder Amancio Ortega, who sold his 220-foot Feadship yacht, Drizzle, to commission a larger 236-foot vessel from Feadship, also named Drizzle. Tech tycoon Sergey Brin followed suit with his latest Dragonfly yacht, now reigning supreme as the largest vessel in the United States, surpassing Larry Ellison’s 453-foot yacht Rising Sun.

Interestingly, after selling Rising Sun to David Geffen, Ellison chose to downsize to the 288-foot Musashi, reflecting his preference for a slightly smaller yet equally luxurious yacht. Another notable billionaire who has embraced downsizing is F1 boss Lawrence Stroll.

His third Faith yacht, currently under construction and dubbed Project 714, is a 259-foot Feadship masterpiece tightly under wraps. It will succeed the 318-foot Faith, which Stroll sold in 2020 to Iranian-Canadian businessman Michael Latifi, who renamed it Sophia.

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While Sophia is an extraordinary vessel, boasting features like a glass-bottomed swimming pool with a waterfall, a theater, and a beach club, it’s safe to assume that Stroll’s new yacht will match or surpass its grandeur, even if not in length. The exact volume and specifications of this fully custom vessel, set for delivery in 2025, remain undisclosed. This leaves open the possibility that it may rival the former Faith in size and feature similar amenities to the $200 million Feadship yacht, which charters for $1.2 to $1.5 million per week.

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Stroll’s upcoming yacht, the Feadship Project 714, passing through Dutch canals.

Stroll’s latest yacht is rumored to feature a luxurious wellness center with a hammam, several fireplaces, and an array of dazzling toys and tenders. Feadship’s 262-foot Project 714 was spotted last year navigating the narrow locks and bridges of the Dutch countryside along the Oude Rijn river in Alphen aan den Rijn.

Currently undergoing outfitting at Feadship’s Papendrecht site, the yacht is being prepared for its 2025 debut. It is tailored to the tastes of the Canadian billionaire, worth $3.8 billion, who amassed his fortune by selling shares in Tommy Hilfiger and Michael Kors. Lawrence invested $235.6 million into Aston Martin and now serves as the CEO of the car company.