Houston Billionaire Adds Boardwalk to His Empire Our curiosity was peaked when we saw info on a 77 meter (252 foot) Fernship yacht that “was commissioned by an experienced yachtsman, the project has been designed by De Voogt Naval Architects,” according to Boat International. The extraordinary yacht’s launch has additionally captured the attention of Super Yacht Times, Mega Yacht News, and Yacht Harbor. Tilman Fertitta's 250-foot, $150 million super yacht Boardwalk courses through canals after departing Fernship's Aalsmeer shipyard in The Netherlands on its way to sea trials. (Courtesy of Fernship) https://www.papercitymag.com/culture/tilman-fertitta-super-yacht-houston-billionaire-waters/ Spoiler
Honestly, it is disgusting. The guys cries poverty, claims his businesses are going to fail, he essentially lays his workers off so that we the tax payers can pay their benefits.... The guys borrows huge sums of money, he then attempts to go public and raise more money.... He won't resign role players off a championship caliber team...... But he has the money and time for a $150,000,000 yacht and he doesn't even use US labor. **** him.
LOL, this was ridiculous then but reads even worse now: The Landry’s magnate was joined by a slew of top-level restaurateurs and industry executives, including fellow Texan and Woodshed Smokehouse owner Tim Love. During the meeting, Fertitta explained why the Trump administration needs to infuse “larger private restaurateurs” with cash to stay afloat, along with spending a lot of time talking about basketball with Trump. The key takeaway, though, is that even though his company was approved for a Payroll Protection Program loan through the Small Business Administration, Fertitta returned the funds because he didn’t want to face criticism for being “the billionaire that took the money from the little business.” “I wanted to put 40,000 people back to work on May 1, but couldn’t take the criticism,” Fertitta says of his decision to not take a PPP loan. “I took the money and sent it back and did not spend a dollar.” In response, Trump ribbed Fertitta’s decision to send the PPP money back. “They found out that you’re very rich and they said ‘what the hell?,” Trump said of Fertitta’s critics. It’s kind of surprising, because Fertitta hasn’t been afraid to court controversy ever, especially during the coronavirus pandemic. At the beginning, his company was criticized for taking away paid time off for employees at the Post Oak Hotel in Houston, a decision that was eventually reversed. He later described furloughs as a “favor” to his 40,000 out-of-work employees. Fertitta also bragged during the meeting about being the first in the restaurant industry to seek private investment on the leveraged finance market, referring to the $300 million loan (with a whopping 12 percent interest rate) that he took out to keep his businesses afloat during the shutdown. “I borrowed $300 million to add to liquidity, but it wasn’t enough to hire back all of my employees,” he says. https://houston.eater.com/2020/5/19...ilman-fertitta-restaurant-industry-roundtable
What a greedy and disgusting person. I am all for those that work harder being compensated more within reason. However this guy is just horrible...... he is complaining that he had to give the PPP money back because he couldn't face the criticism he would get from the public? It doesn't even dawn on him that there is a REASON for the criticism. By furloughing his employees he is "doing them a favor"? Really? He takes out a 300 million dollar loan at basically credit card interest rates but drops 150 million on a boat? What a piece of ****. He is literally the living stereotype of greedy and vanity.
