Daniel Loeb’s Yacht Damages Belize Coral Reef (Bloomberg)

Daniel Loeb’s Yacht Damages Belize Coral Reef (Bloomberg)
A luxury yacht owned by hedge fund manager Daniel Loeb damaged a pristine reef atoll in Belize near the famous Great Blue Hole, a popular diving site. The 200-foot (61 meter) Samadhi, owned by Third Point founder Loeb, was filmed last Sunday anchored at Belize’s Lighthouse Reef Atoll. A spokesperson said Loeb was not in the vessel at the time. The Financial Times first reported the incident and said there would be an official investigation. A spokesperson for Belize’s Department of the Environment told the FT that the vessel had damaged the area.

 

And how long will it take for the reef to recuperate?

 

It's helpfull, great that you shared this with me.

 

I wonder how is reef in Spratly Islands.

 

Depending on the species, the corals grow anywhere from 0.2 to 1 inch per year. So we probably talking hundreds of years to recover the damage. I hope Belize can twist the balls of his insurance company for some money and invest it into some reef recovery programs (environmental damage is usually covered these days, from what i hear).

 

I sure hope so, no one in our lifetime will see those reefs back in their former glory.