Billionaire Ian Malouf is preparing to sell his 73-meter superyacht Coral Ocean, aiming for a sale price of approximately $160 million. The yacht will be showcased at the upcoming Monaco Yacht Show, where Malouf originally purchased the vessel in 2019 for around $50 million.
Malouf, known in Australia as “the richest garbo” due to his origins in the waste management industry, acquired Coral Ocean quickly after seeing it, reportedly completing the purchase within 72 hours. The yacht features six luxury suites, including a master bedroom with two skylights and panoramic 180-degree views. Additional amenities include his-and-her bathrooms with infra-red saunas, a hair salon, and a private lounge. The upper deck accommodates seating for up to 30 guests, with facilities such as a teppanyaki grill, an indoor-outdoor gym, and an onboard beauty therapist. Recreational equipment includes paddleboards, fliteboards, jet skis, sea bobbs, and a water slide for use while anchored.
Malouf highlighted the yacht's spacious design, noting the bow area is large enough for gatherings and that guests can enjoy multiple distinct spaces for relaxation and entertainment without leaving the vessel.
In addition to Coral Ocean, Malouf and his family own ten other yachts, averaging about 30 meters in length. Among these are the 54-meter superyacht Mischief, usually based in Sydney, along with smaller vessels named Rascal and Chaos. Both Mischief and the smaller yachts are also currently listed for sale, with asking prices estimated at $30 million for Mischief, approximately $10 million for Rascal, and around $6 million for Chaos.
Malouf’s wealth originated in the waste management sector, having founded Dial-a-Dump in the 1980s with a single truck. The company eventually grew into a substantial operation before being sold to Bingo Industries in 2018. Although he abandoned plans for a waste-to-energy plant at Eastern Creek, Malouf successfully sold a $353 million parcel of the site to NextDC for data center development two years ago.
His investment portfolio extends beyond waste management and yachts to include significant real estate holdings and biotech ventures. Malouf owns high-value properties including a $60 million penthouse in Sydney’s central business district, homes in Double Bay and Palm Beach, as well as development projects on the Gold Coast. He has also invested around $50 million in Arugula Sciences, a biotech firm developing umbilical cord cell therapies aimed at treating osteoarthritis and other conditions.
In the financial sector, Malouf is backing Sandstone, a new investment firm with interests in cryptocurrency and other alternative assets, with a planned commitment of $150 million. Earlier this year, he was unsuccessful in a proposal to build a $900 million waste-to-energy incinerator project in Fiji.