Not Roman Abramovich or Alisher Usmanov, but one of Ukraine’s wealthiest oligarch is building this magnificent 475 feet long megayacht for his. family. However, the billionaire is already considering the sale of the impending celebrity of the seas.

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Before a superyacht hits the high seas, its making is shielded in mystery, and the ownership is a masterclass in secrecy. Project Luminance is a 475-feet example of keeping things under wraps, especially when the splendid creation shows immense potential to achieve celebrity status and worldwide fame. It is the vanity project of the billionaire Rinat Akhmetov, Ukraine’s richest man, revealed New York Times. The man who enjoys a net worth of $4 billion came in support of his country as a staunch supporter of the war effort. This has nudged him to rethink investing in the magnificent Project Luminance.

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A considerable slice of his fortune was devoted to the luxury vessel that speaks to his past as a pro-Russian oligarch. Luminance is set to be featured among the ten largest superyachts in the world when finished. If sold, it could generate a generous amount of money to put into more meaningful pursuits for Akhmetov’s war-torn nation. Having said that, a sale of a luxury vessel while it’s under construction is unheard of. From the little information revealed about this masterpiece-in-the-making, we have gathered the following:

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Project Luminance projects greatness:
Rinat Akhmetov’s 475-foot luxury vessel is currently being built in Germany by Lurssen and is to be delivered in 2023. As expected of the German shipyard responsible for some of the most iconic luxury ships belonging to Russia’s richest, Project Luminance is no different, only better. It has been compared to Moskva, the Russian Navy cruiser that was undoubtedly the most powerful warship in the Black Sea region.

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The stunning Nord megayacht. Via – Lurssen.

The spectacular under-construction luxury vessel resembles another Lürssen behemoth, the 464-feet tuxedo-donning warship Nord. Considering Project Luminance flaunts a size similar to the terrific Nord and is only 15 feet longer than the $700 million Scheherazade, we get a pretty good idea of what to expect from Akhmetov’s grand luxury boat when completed.

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As shared by Boat International, Project Luminance will boast a naval architecture by Lurssen. She will be both a beauty and the beast of the high seas, complete with teak decks, a robust steel hull, an aluminum superstructure, and a beam of 20 meters. A closer look at the new photos shows the top-secret superyacht taking shape, revealing cascading decks, an elongated bow, and plenty of room for the most magnificent amenities. With Project Luminance joining a fleet of only 59 motor yachts longer than 100m, a massive pool or pools, spa, dining, and lounging areas, probably an indoor garden, etc., can be expected to be featured onboard. Compared to Lurssen-built Nord and Scheherazade, which house 36 guests and 18 guests and a crew of 40, respectively, we get a fair supposition of how the incredible Project Luminance will materialize.

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About Rinat Akhmetov:
The founder and president of System Capital Management (SCM) is Ukraine’s richest man and the 687th richest person globally, with an estimated net worth of $4 billion. Akhmetov witnessed his world change for the better after the fall of communism in Ukraine. Akhmetov is Ukraine’s Roman Abramovich in matters of wealth, and the other common factor is- a football club called Shakhtar Donetsk. Akhmetov once said, “I have earned my first million by trading coal and coke and spent the money on assets that no one wanted to buy. It was a risk, but it was worth it.” The risk-taker founded SCM in 2000, and the structure today includes 500 companies employing about 200 thousand people. Among the nice things he owns is London’s most expensive penthouse at One Hyde Park, purchased for a reported $213 million with an additional $120 million spent on renovations. Will Project Luminance supersede this mansion in terms of luxury? It indeed seems so.

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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.