Oligarch's 130-foot superyacht sinks off the coast of Italy

The Italian Coast Guard reports that all four passengers and five crew members were rescued when a superyacht named "My Saga" sank off the coast of Italy on 20 September.

According to Superyacht Fan, the owner of the yacht is Russian oligarch Gennady Ayvazyan, who heads Krutrade, one of the world's largest traders of coal. He's also the former director of the World Coal Association, based in London.

While our hearts go out to Mr. Ayvazyan for his tragic loss, we can take comfort in the fact that he also owns a 213-foot superyacht, also called "My Saga."