Blackstone CEO Stephen Schwarzman has something gigantic to be excited about as Dutch shipyard Feadship has announced that its 332-foot superyacht, Project 1014, has begun sea trials in the North Sea. It is a full-circle moment for the nearly 80-year-old billionaire who, as an Eagle Scout in his youth, experienced boating only through basic aluminum canoes on lakes and rivers during summer camps. Today, the son of a dry goods store owner, now worth $39 billion, is gearing up to sail the world on his lavish new $400 million superyacht, built at facilities in Makkum, the Netherlands.
A top-secret project that has had the yachting world watching with excitement, the luxury vessel of the Blackstone boss has only been spotted a few times, once entering the same sheds in November 2024 for outfitting and a handful of times in early 2023, according to Boat International. Now, with sea trials underway, the work of British studio RWD, Azure Yacht Design & Naval Architecture, and Parisian studio Chahan Interior Design will slowly reveal itself to those who have been waiting for a glimpse of Project 1014 with bated breath.
The 3,840 GT ship boasts a navy hull and a tall white superstructure that is typical of Feadship yachts, but more importantly, it exhibits a very classic exterior that gives her an edge above the rest. Despite her familiar Feadship colors, she has a distinct personality. One small yet significant distinguishing element is the metal accenting. God is in the details, said a wise man, and it is no wonder that Project 1014 looks heavenly.
Interiors of the vessel include a glass-bottom pool on the main deck aft that highlights the beautiful beach club below with a gush of light. Multiple fold-down balconies ensure one’s connection to the sea is maintained at any given point aboard. There is also a generous helipad on the foredeck for speedy entrances and exits for the billionaire and his party. With a hectic lifestyle comes the need to unwind on a superyacht, and the uppermost section includes a forward-facing Jacuzzi with a living area wrapped in curved glass. While images of the interiors may or may not reach us in the near future, the exterior is thoroughly enjoyable, with enough evidence to suggest that the interiors will be even more breathtaking.
What will happen in the sea trials?
While an army of 450 Feadship employees has readied the vessel, it is now in the final stages of testing, also known as sea trials. Conducted in the North Sea, off the Netherlands, this is where Project 1014 will not be judged for her beauty but for her seamless performance after dockside checks have already been completed.
From propulsion behavior, engine-starting reliability, reversing response, maneuverability, steering, alarms, monitoring systems, safety systems, vibration, noise, and general seaworthiness, every minute detail will be tested. Then come the speed runs, which require sufficiently deep water for obvious reasons and calm conditions for total control. This is the part where the fantasy of a superyacht becomes fact, and a 10/10 at that.
Who is Stephen Schwarzman-
If there was one thing Schwarzman was good at since childhood, it was business and delegation. The child who grew up working weekends in the family shop, folding towels and handkerchiefs, nurtured the desire to turn the store into a chain. Frustrated that his father did not encourage the thought, at 14 he went on to run a lawn-mowing business. A true businessman even then, he employed his younger twin brothers to do the mowing while he handled the clients.
Later in life, at Yale, when Schwarzman was rejected by the most elite, traditional secret societies, he founded his own club and eventually made Skull and Bones. Today, he has come a long way from watching his classmates participate in the legendary Yale-Harvard Regatta to owning one of the biggest yachts of the year. One could expect nothing less from the boss behind the company that manages more than $14 trillion in assets under management.
