Seized Russian yacht sells for $187M; U.S. taxpayers recover costs after costly storage

Taxpayers spent an estimated $36 million keeping a seized Russian oligarch’s megayacht docked in San Diego Bay. The U.S. government has now recouped most of that, and then some, selling the 348-foot Amadea for $187 million to Abbas Sajwani, a 27-year-old Dubai-based real estate developer whose family holds a longstanding business partnership with the Trump Organization.

The sale, overseen by the U.S. Marshals Service in September 2025, closes a three-year legal saga that began when federal authorities seized the vessel off the coast of Fiji in 2022. The Biden administration’s “Task Force KleptoCapture” program had targeted the assets of Russian oligarchs following Russia’s invasion of Ukraine. The Justice Department alleged the yacht belonged to Suleiman Kerimov, a Russian mining tycoon under U.S. sanctions since 2018. A U.S. District Court judge eventually issued a forfeiture order, clearing the way for a sealed-bid auction.

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The cost to the public during that custody period was substantial. After sailing Amadea to San Diego, U.S. authorities hired a new crew and covered monthly expenses, including crew salaries, insurance, docking fees, and maintenance, that ranged from $600,000 to $1 million per month. Over three years, that accumulated to roughly $36 million, a figure that illustrates how difficult and expensive it is for the government to manage high-value seized assets while courts work through complex legal disputes.

The $187 million sale price represents a notable discount from earlier government valuations. The Justice Department had previously estimated the yacht’s value at between $300 million and $500 million. A 2024 independent valuation cited by the department placed it at $230 million. The winning bid beat the second-highest offer by just $1 million, according to Forbes, which granted Sajwani a tour of the vessel while it was anchored off Monaco in June 2025.

The identity of the buyer was not disclosed by the U.S. Marshals Service, which cited federal privacy exemptions and said it does not routinely release buyer information. The transaction details emerged through government documents filed after the sale. Registration records showed Amadea transferred to Beyond Holding Group Ltd., a British Virgin Islands holding company whose Dubai headquarters address matches that of DAMAC Properties, the real estate firm controlled by Sajwani’s father, Hussain Sajwani. Yacht industry executives confirmed the younger Sajwani as the purchaser.

The Sajwani family’s ties to the Trump Organization run deep. DAMAC Properties partnered with Trump Organization entities in 2013 to develop the first Trump-branded golf course in the Middle East, which opened in 2017. According to The New York Times, DAMAC paid the Trump Organization millions of dollars before construction began and has continued paying management fees. A second Trump-branded course was planned but remains delayed. Hussain Sajwani appeared alongside President Donald Trump at Mar-a-Lago last year to announce a $20 billion investment in U.S. data centers. Trump introduced him as “one of the most respected business leaders in the Middle East and indeed the world.”

Neither Abbas Sajwani, Hussain Sajwani, nor DAMAC Properties responded to requests for comment. The Department of Justice and the White House declined to comment as well.

Meanwhile, the yacht itself is a striking object. Built in 2017 by German shipyard Lurssen, Amadea spans six decks and accommodates 16 guests and 36 crew members. Its amenities include a glass winter garden, an infinity pool with a swim-up bar, a motion-seat movie theater offering what the vessel’s materials describe as a “4D experience,” a spa with hammam, sauna, and chromotherapy pool, and a lobster tank in the galley. A five-ton stainless-steel albatross sculpture wraps around the bow. After taking ownership, Sajwani converted the bow helipad into a pickleball court.

Sajwani told Forbes he uses Amadea as a primary residence rather than a vacation property, running his real estate business from aboard when not in Dubai. He said he turned down an offer from another buyer at a significantly higher price. “I love the boat’s interior, I love the style,” he told the magazine. “It’s beautiful.” His real estate portfolio is considerable: his company, AHS Properties, purchased the Shangri-La Hotel in Dubai for a reported $300 million and is developing luxury properties along the Dubai Water Canal. Forbes estimates his net worth at $1.9 billion.

After the auction, yacht tracking data from VesselFinder shows Amadea sailed to Fort Lauderdale, Florida, and then Charleston, South Carolina. Yacht industry executives said those voyages were for minor repairs and upgrades.

The government has not announced how it will use the $187 million in proceeds. A U.S. aid package signed into law in May 2024 authorized the seizure of Russian state assets within U.S. territory and directed proceeds to benefit Ukraine, though it remains unclear whether the Amadea sale falls under that framework or what becomes of the funds.