Ukraine’s richest man is all set to take delivery of his ultra-luxurious $500 million megayacht. As long as three Olympic-sized swimming pools, the secretive ‘Project Luminance’ is spread across four decks, has two helipads, a large swimming pool and beach club.

Via Youtube / @DrDuu

There is always a need for love and light, so the great 475-foot Project Luminance is more than welcome to sail the high seas. The mammoth was spotted leaving the yard for its final sea trials. The 9,400-ton ship, Lurssen’s seventh largest built to date, was launched in 2022 and is touted as the biggest yacht to be delivered in 2023.

Via Youtube / @DrDuu

Construction on the mammoth project began in 2018, but few details have been revealed since. Lurssen and Espen Oeino came together for the 30th time to make billionaire Rinat Akhmetov’s nautical dreams come true. The interiors are sheathed in secrecy, but having witnessed the work of Francois Zuretti, we can say with confidence they are undoubtedly lavish.

What can one expect from the Luminance Yacht?
One look at the Luminance yacht during its final sea trials reminds you of other great ships sailing out of the Lürssen stable, designed by Espen Oeino, like Nord, Flying Fox, and Dilbar. Longer than the 464-foot megayacht Nord, it is safe to presume that the latest megayacht will fall in the $500 million plus bracket. The video revealed a gigantic multi-deck boat with teak decks, a steel hull, and an aluminum superstructure.

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Via Instagram / @drduu

Her 65-foot beam, cascading decks, and elongated bow give a fair idea of the niceties inside. Amenities include a swimming pool aft, a helipad, and several lounging and dining options. Owing to high-performance MTU engines, Luminance is projected to reach top speeds of over 20 knots. The billionaire will have to spend anywhere from $50-$60 million annually for her upkeep. The nearly $500 million Project Luminance is set to be delivered later this year.

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Who is Rinat Akhmetov?
57-year-old Akhmetov, Ukraine’s richest person, is the founder and president of System Capital Management (SCM), a financial and industrial holding company. Born the son of a coal miner in Donetsk, the tycoon enjoys an estimated net worth of $4 billion, and is aptly dubbed Ukraine’s Roman Abramovich in matters of wealth. Other factors connecting the two tycoons are fancy yachts and a football club called Shakhtar Donetsk. The affluent businessman founded SCM nearly 25 years ago, which has expanded to a whopping 500 companies employing about 200 thousand people. The Ukrainian billionaire owns a French Villa and London’s most expensive penthouse at One Hyde Park for a reported $213 million, with an additional $120 million spent on renovations. With Project Luminance, he will undoubtedly have another palatial asset in his hands.

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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.