Billionaire Buys £65m Yacht & Cuts Employees Wages

65 million pound yacht

A German billionaire who has put his factory workers on short-time and cut their wages has bought himself a luxury yacht.

Screw manufacturer Reinhold Wuerth has ordered 1,250 of his 5,000 employees in Germany to reduce their working hours and cut their pay by 15 percent.

The rest of his workers are being forced to take a solidarity pay cut of five percent.

At the same time, though, the convicted tax evader also celebrated the christening of his new super yacht, the Vibrant Curiosity.

The 85-meter-long white ship, built at the Oceano dock near Rotterdam, cost around £65million to build.

Posted on April 5, 2009 | Filed Under Life