Italian city issues regulations that disappoint billionaires

A superyacht owned by French billionaire Bernard Arnault, the world’s second richest man, has been banned from entering the port of Mergellina in Naples, Italy, due to exceeding size regulations. The ban has come as a surprise to the LVMH fashion tycoon, who has previously been allowed to dock large yachts with swimming pools and outdoor cinemas, The Guardian reported on June 25.

New regulations on yachts not exceeding 75 meters in length for those wanting to dock also left many other tycoons "completely disappointed" because they missed the opportunity to stay in the southern Italian city.

People walking on the beach in Naples

Corriere della Sera newspaper also recently reported that American media mogul Barry Diller was also forced to leave Naples because his yacht exceeded the 75 m length required by new regulations.

A port source said the ban was “incomprehensible” as superyachts had been able to dock there for the past 20 years and Naples would miss out on super-rich visitors. “I have received letters from tycoons saying they are absolutely devastated that they can no longer dock in Naples,” the source added.

Italian business associations have also criticised the new rules, saying they would harm tourism in the city, whose reputation has grown partly thanks to its high-spending billionaire clientele.

Massimo Luise, manager of a dock in Mergellina, told Corriere della Sera that although he was following the rules, the economic consequences for Naples were huge.

Following the restrictions in Naples, some billionaires and celebrities have moved to other Italian cities for vacations. Last week, a Spanish tourist and fan of actor Leonardo DiCaprio nearly drowned after trying to swim to a superyacht docked in Tuscany to see the actor.

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