McDonald’s worker-turned-billionaire brought his $200 million superyacht to the 2024 Monaco Grand Prix and paid a jaw-dropping $141,000 just to moor his 317-foot-long vessel near the track so he could enjoy the race from the comfort of his floating palace

Image - Mona Yachting

It is challenging to grab the spotlight in a place like Monaco, where everyone is ultra-rich, in supercars, and owns everything money can buy. Still, year after year, superyachts stand out amid the razzmatazz owing to their gargantuan presence. This year, dominating the scene with the best seat to the Monaco Grand Prix is the superyacht Faith.

Michael Latifi with his son Nicholas, a talented race driver who used to drive for the Williams F1 team.

The $200 million vessel, owned by Canadian billionaire Michael Latifi, is stealing the show with its massive 315-foot luxury presence that dwarfs other pleasure crafts lined up to offer one of the most spectacular experiences. When a 2,900 GT ship docks at Port Hercule in the heart of Monaco, it incurs certain eye-watering costs. Let’s delve into the fantastic Faith yacht moored at magnificent Monaco.

Docking rates for the 2024 Monaco Grand Prix.

A Superlative Vantage Point, at a High Cost

Owning a luxury vessel comes with high costs, including annual maintenance, crew salaries, fuel charges, and hotel expenses. During the Monaco GP event, these costs extend with substantial berthing charges. According to the Formula 1 Grand Prix rate chart, docking charges for a boat like Faith, which spans 95 meters or 315 feet, would not ideally fit in the trackside zone due to its size. The next best option for Faith Yacht is Zone 1, which has docking charges of $141,000.

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Lawrence Stroll with his son Lance.

This is likely where billionaire Latifi, the third-largest shareholder of the McLaren Group, will moor his motor yacht. His son, Nicholas Latifi, is a former Williams Formula One team driver. Interestingly, Latifi purchased the boat from Lawrence Stroll, part-owner of the Aston Martin F1 Team, whose son competes under the Canadian flag in Formula One.
According to Vesselfinder, Faith is docked next to superyachts Loon, Titiana, and Seven Sins, another stellar superyacht packed with amenities suited to a billionaire’s lifestyle.

The glass swimming pool is built on top of the beach club.

Faith: Fabulous, Flamboyant, and Full of Luxuries

Faith is a winner not just of hearts but also of several well-deserved awards such as the World Superyacht Award 2018, Motoryacht of the Year, Best Displacement Motoryacht 2000GT and above, and Boat International Design & Innovation Awards for Best GA & Deck Design, Best Interior Design, and Best Tender. With RWD responsible for exteriors and interiors and naval architecture by Feadship, this five-deck beauty accommodates 18 guests in 9 staterooms, with 32 crew members. The owner enjoys unmatched luxury treatment aboard the vessel.

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The owners deck.

The private owner’s deck features a fireplace inside and outside. The deck also boasts a lounge with a home cinema and skylight for stargazing after adrenaline-pumping car racing.

The Faith has a walk-in snow room.

Guests enjoy luxuries such as a large glass-bottomed swimming pool, an incredible beach club, a wood-fired pizza oven, and a charcoal grill on the sundeck. Is there anything better than being in Monaco and on Faith at the same time? The $200 million boat is available for charter for $1.4 million per week, but it is clear that the racing team owner is here for the game with the best possible seat.

Faith docked in Monaco. Image – Youtube / Screengrab

For now, Faith is the largest vessel at the Monaco Grand Prix. Last year this title was held by by Paul Allen’s goliath, the 414-foot-long Octopus megayacht, which was chartered by an anonymous billionaire for the 2023 Monaco Grand Prix.

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With over 15 years of experience in luxury journalism, Neha Tandon Sharma is a notable senior writer at Luxurylaunches. Her expertise spans luxury yachts, high-end fashion, and celebrity culture. Beyond writing, her passion for fantasy series is evident. Beginning with articles on women-centric gadgets, she's now a leading voice in luxury, with a fondness for opulent superyachts. To date, her portfolio boasts more than 2 million words, often penned alongside a cappuccino.