America’s Cup: The billionaire’s owners arrive in Oakland to participate in the Prada Cup

Some of the world’s richest people descend on New Zealand for the Copa America – with billionaires at Hamilton hotels and luxury yachts quarantined on the docks of Auckland.

The Herald understands that the UK’s fifth richest person, Jim Ratcliffe – who owns Ineos Team UK – is traveling to New Zealand.

The 68-year-old with a net worth of $ 26 billion owns the Ineos Chemical Energy Group and has invested more than $ 200 million in Portsmouth-based America’s Cup team since he founded the union in 2018.

The 66-meter superyacht of his colleague, Andrew Curry, director of Ineos, is docked at Queens Wharf in Oakland at a fenced quarantine dock overseen by Department of Health officials.

Corrie himself is worth $ 8 billion.

Meanwhile, part-owner of American Magic, Doug DeVos – who has a net worth of $ 7 billion – completed his isolation at the Ibis Hamilton hotel with his family on Monday.

DeVos spent Thursday in Oakland Harbor aboard the Magic in America racing boat led by Terry Hutchinson.

The 56-year-old is the co-chairman of the US multi-level marketing giant Amway, which specializes in health and beauty products.

DeVos, whose headquarters are at Michigan Palace, posted a photo on Instagram of him and his family celebrating New Years Eve from the Ibis.

“The new year looked a little different to us this year, you see! We celebrated last night in a secluded, managed hotel room in New Zealand, as we await the America’s Cup race that starts in mid-January,” DeVos posted.

“We also feel a bit of a malaise as we celebrated the new millennium in New Zealand just 20 years ago, while attending the Copa America 2000. Conditions are a little different this time!”

The arrival of the $ 173m manager, Andrew Curry, in Hampshire, on Dec.9 in Oakland Harbor, was somewhat mysterious because he had turned off the AIS tracking beacon weeks earlier.

The online tracking site for worldwide ship movements still had Hampshire last docked on the French Polynesian island of Ottorua.

In September last year, the Weekend Herald reported that the superyacht crew were among the few arrivals to New Zealand who could bypass managed isolation facilities.

The Ministry of Health waiver is open for luxury yachts provided they spend at least $ 50,000 to retool or repair them at a boat yard in New Zealand.

The crew of those luxury yachts, granted border exemptions, are allowed to count any days at sea as part of the 14 days required for quarantine before they step onto New Zealand.

Not only does this exemption extend to luxury yacht billionaires, just the crew, but Ratcliffe can bypass that because there is a basic exemption for service factor for America’s Cup team owners.

All international owners were granted basic service limit exemption visas for the three teams competing in the Copa America in the second half of last year – one each for Ineos and Prada Luna Rossa, and three each for American Magic.

It is not clear if Ratcliffe or Corey is in quarantine on a Hampshire yacht at Queen’s Wharf.

But in order to dock at the Ministry of Health’s quarantine dock, the crew on board must need to be further isolated for up to 14 days since they left their last international port.

A spokesperson for Ineos Team UK said, “We do not comment on the movements of our teammates.”

Italian team owner Prada Luna Rossa Pirelli, Patrizio Bertelli, will not make the trip to Auckland.

A spokesman for the team said: “The situation of Covid is still very dangerous in Italy, and he feels that in such a situation, it is his duty and feelings to stay in the country, in production and management centers, next to his workers and collaborators.”

But Bertelli was in “constant contact” with the team.

The arrival of wealthy tourists like the team owners has long been the mechanism for generating money for America’s Cup host cities.

The government and Auckland Council invested $ 250 million in the event and is returning to it The year 2017 was expected to offset $ 600 million to $ 1 billion in economic benefits to the local economy.

The arrival of hundreds of international luxury yacht owners to New Zealand, before the Covid-19 borders were closed, spent more than $ 400 million in the local economy.

Although the new feasibility study for the event has not been completed after 2017, New Zealand’s chief economist, Eric Crampton, condemns the financial loss the event will now result in.

“All of this points to the risk of government funding being approved for mega projects like this, with a cost-benefit ratio so close to the one that puts even minor changes below the minimum,” said Crampton.

Ratcliffe is known for the privacy of his personal life, but he owns several other notable sports teams including the Mercedes F1 team and the Ineos Tour de France – formerly known as Team Sky.

He also owns the Swiss soccer club FC Lausanne-Sport, and has been linked with buying Premier League giants Chelsea in the past.

DeVos is one of three co-owners of the New York-based American Magic Yachting Team and Ratcliffe does not share a reservation.

On Friday, he took back to Instagram with pictures of him training with Team American Magic at Waitemata Port.

“I had the privilege of being a guest onboard during the training races on Wednesday, and if you can’t figure it out, I definitely have fun!” DeVos Publishing.

“We have arrived in Auckland, and we’re excited to cheer on American Magic as they race the Prada Challenger Selection Series!”

DeVos considers himself a rival sailor, winning the world’s leading monocoque racing championship with the Series 52 in 2018.

The DeVos family also owns the NBA Team Orlando Magic.

DeVos’ sister-in-law, Betsy DeVos, served as the 11th Secretary of Education of the United States from 2017 to 2021 under President Donald Trump but resigned on January 8, 2021.