inside million dollar yachts

What the US$600M 'world's biggest yacht' will look like inside

It's set to be one of the largest private residence yachts in the world when it launches in 2024, but what does a luxury apartment on board the 728 foot (221 metres) Somnio actually look like?

Interior renderings of the US$600 million vessel have just been unveiled, offering a glimpse inside what's being described as the world's first "yacht liner."

While all 39 of the floating apartments, which come with a private balcony or terrace, are said to be "fully customizable," some of the options showcased include huge shell-shaped beds, expansive living areas with ocean views, and wall-length mirrors.

FLOATING HOMES

Prices start from around $11 million, with sizes ranging from 1,600 to 6,500 square feet -- the largest condo takes up most of the top deck.

Somnio, which means "to dream '' in Latin, was designed by Winch Design and Tillberg Design of Sweden, and will be built by Norwegian ship designer and builder VARD.

The interior renderings were devised by Winch Design, Tillberg Design of Sweden along with Luttenberger Design.

Those who snap up a condo on "the most exclusive address in the world" will get to work with one of the design teams for up to three months in order to "decide the room configurations and select the materials, furniture, lighting and artwork."

EXCLUSIVE ADDRESS

A gym, a library, inside and outside dining spaces, "distinct" dressing areas and a "vast living room space with 270-degree forward views" are among the options available, although the layout is to be based on the buyer's preferences.

The identity of the owners will be kept secret, but all residents will have access to full concierge services "for both onboard and land-based needs."

"As the only residential superyacht in the world, we are delighted to work with designers that complement our exacting standards," Captain Erik Bredhe, co-founder of Somnio, said in a statement.

"Our owners will experience only the best, as is befitting of a yacht of this nature."

SUSTAINABILITY FOCUS

According to its designers, sustainability will be a key focus for Somnio, which is to be constructed with the "latest clean engine technology" along with materials and products to "create environmentally responsible interior design with a reduced impact" where possible.

Among the shared on board amenities onboard available include a 10,000-bottle capacity wine cellar and tasting room along with a lounge located in the ship's bow, a spa, a movie theater, restaurants and a beach club.

Residents will be charged an annual fee to cover expenses like maintenance and repairs, along with fuel and food.

A spokesperson for the project tells CNN Travel that Somnio has attracted exceptional interest since it was unveiled earlier this year, with some apartments already sold.

At present, The World, which measures 643 feet, is the largest private residential yacht on the globe, with a combination of studios as well as one to three-bedroom apartments on board.

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What the $600M ‘world’s biggest yacht’ will look like inside

Tamara Hardingham-Gill, CNN • Updated 11th November 2021

(CNN) — It’s set to be one of the largest private residence yachts in the world when it launches in 2024, but what does a luxury apartment on board the 728 foot Somnio actually look like?Interior renderings of the $600 million vessel have just been unveiled, offering a glimpse inside what’s being described as the world’s first “yacht liner.”While all 39 of the floating apartments, which come with a private balcony or terrace, are said to be “fully customizable,” some of the options showcased include huge shell-shaped beds, expansive living areas with ocean views, and wall-length mirrors.

Floating homes

Prices start from around $11 million, with sizes ranging from 1,600 to 6,500 square feet — the largest condo takes up most of the top deck.Somnio, which means “to dream ” in Latin, was designed by Winch Design and Tillberg Design of Sweden, and will be built by Norwegian ship designer and builder VARD.The interior renderings were devised by Winch Design, Tillberg Design of Sweden along with Luttenberger Design.Those who snap up a condo on “the most exclusive address in the world” will get to work with one of the design teams for up to three months in order to “decide the room configurations and select the materials, furniture, lighting and artwork.”

Exclusive address

A gym, a library, inside and outside dining spaces, “distinct” dressing areas and a “vast living room space with 270-degree forward views” are among the options available, although the layout is to be based on the buyer’s preferences.The identity of the owners will be kept secret, but all residents will have access to full concierge services “for both onboard and land-based needs.””As the only residential superyacht in the world, we are delighted to work with designers that complement our exacting standards,” Captain Erik Bredhe, co-founder of Somnio, said in a statement.”Our owners will experience only the best, as is befitting of a yacht of this nature.”

Sustainability focus

According to its designers, sustainability will be a key focus for Somnio, which is to be constructed with the “latest clean engine technology” along with materials and products to “create environmentally responsible interior design with a reduced impact” where possible.Among the shared on board amenities onboard available include a 10,000-bottle capacity wine cellar and tasting room along with a lounge located in the ship’s bow, a spa, a movie theater, restaurants and a beach club.

Residents will be charged an annual fee to cover expenses like maintenance and repairs, along with fuel and food.A spokesperson for the project tells CNN Travel that Somnio has attracted exceptional interest since it was unveiled earlier this year, with some apartments already sold.At present,  The World , which measures 643 feet, is the largest private residential yacht on the globe, with a combination of studios as well as one to three-bedroom apartments on board.

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An inside look at jeff bezos’ $500 million superyacht and what it costs to keep it afloat.

Cliché but true, the second-richest man on the planet, according to Forbes , owns the tallest sailing yacht in the world . In fact, the 417-foot Koru is so big, it has its own 250-foot support vessel .

Priced at $500 million, the Koru hit the sea for the first time in 2023 and has since ferried Jeff Bezos and company around the globe. Complete with three massive 229-foot masts, it can reach a top speed under sail of 20 knots, according to the New York Post — which is approximately 23 miles per hour.

Made for a group, up to 18 guests can set sail on the yacht, allowing Bezos to bring family and friends on vacation with him. Here’s a look at the Koru’s extravagant features and how much it costs to operate his floating mansion.

Also take a look at Bezos’ mansion collection.

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Key Features

As expected Bezos’ yacht is dripping with luxury. With a net worth of $203.8 billion — as of May 4, 2024, according to Forbes — he can afford to outfit the Koru with nothing but the best and he did just that.

The superyacht has three outdoor decks, with two containing swimming pools, according to the New York Post. It also features a cinema, several lounges and multiple business areas, according to Luxuo .

Highly personalized, the yacht is complete with a figurehead modeled after Bezos’ fiancée Lauren Sanchez. Even its masts are luxurious, as the Amazon founder chose in-boom furlers, which keep the canvases at the bottom of the mast above the deck, creating a pristine and spacious rope-free deck.

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Support Vessel

One of the most shocking features of the Koru is the fact that it requires its own support vessel. The $75 million Abeona features a helipad that Sanchez has been spotted using to park her personal helicopter, according to the New York Post.

Designed to carry extra gear, four jet skis, two fast launches and a dinghy were spotted on the Abeona during a 2023 trip to Mallorca, Spain, according to the New York Post. It’s also capable of lifting a small submarine, but Bezos isn’t believed to own one — at least not yet.

Additionally, the support ship has two extra staterooms, which can accommodate four guests. This could come in handy if Bezos wants to entertain a larger group than can fit on the Koru.

On-Board Crew

It probably isn’t a surprise that operating both the Koru and the Abeona is no small task. From staff to drive the boats and maintain them to caring for guests onboard, Bezos needs a small army at sea.

The Koru has a crew of up to 36 people, according to The New York Post. If you think that’s a lot, the Abeona requires up to 45 crew and support staff.

Annual Operating Costs

Purchasing the Koru and Abeona cost Bezos more than half a billion dollars, but his expenses didn’t end there. As you might imagine, the annual cost to maintain a superyacht and its own enormous supporting yacht is more than most people earn in a lifetime.

The Koru costs approximately $25 million in operating expenses per year, according to the Daily Mail . Much less, but still sky-high, Bezos spends around $5 to $10 million on annual maintenance costs for the Abeona, according to Super Yacht Fan ).

When their owners are on dry land, yachts have to find a parking space. However, even this doesn’t always come cheap for Bezos and the Koru.

In November 2023, the billionaire’s yacht arrived in Fort Lauderdale, Florida, but was too big to fit in the port with all the outer superyachts, according to the Daily Mail. Therefore, it had to be docked with cruise ships at Port Everglades, at a rate of $16,500 per week.

While one week of storage might be more than the average person can afford, picking up the tab for any number of weeks would clearly be no issue for Bezos. While his superyacht and the many expenses surrounding it are clearly astronomical, he’s still living well within his budget.

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This article originally appeared on GOBankingRates.com : An Inside Look at Jeff Bezos’ $500 Million Superyacht and What It Costs To Keep It Afloat

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The World's Most Expensive Yachts Available for Charter in 2024

By Katia Damborsky |   Last Updated 20 December 2022

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Thinking about renting a multi-millior dollar superyacht in 2024? Discover what you can expect on board the world’s most expensive luxury yachts available for superyacht charters   for more than $1 million per week. 

Most expensive charter yachts in the world in 2024:

Need more information?

There’s no doubt that the latest superyachts of the charter fleet offer the finest in luxury living, with a selection of cutting-edge amenities and state-of-the-art on-board facilities. From spacious swimming pools and plush cinemas to impressive basketball courts and underwater observation lounges, take a look at the world’s most expensive yachts which you can privately rent in 2023. 

Best for: an action-packed vacation with all the family

Coming in at 446ft (136m) superyacht FLYING FOX  is the world’s largest superyacht for charter. She features accommodation for 22 guests in 11 suites. Across her five colossal decks, she houses a pair of helipads that are large enough to accommodate some of the biggest choppers on the market.

FLYING FOX is the world's largest superyacht for rental

The superyacht’s aft deck is home to a 12m swimming pool, where you can slide in and soak up spectacular views from a prime vantage point. The beach club of Flying Fox is particularly noteworthy, as it boasts a split-level spa with a hammam, steam room, Cryosauna and treatment room. 

This majestic vessel also features a large indoor jacuzzi, with access to the sea lounge and a scuba-diving room. Take a look at pictures inside superyacht Flying Fox for a closer look.

Best for: jaw-dropping interiors and luxury amenities

Marking her debut on to the charter fleet in 2022, the 115m (387ft) Lurssen megayacht AHPO has been turning heads with her supercar-inspired exterior and vast deck spaces.

Her chic interiors come from the boards of Nuvolari Lenard, showcasing elegant refinement that borrows influences from the natural world, with plenty of calm colors, soft lines and organic patterns that help create a warm and convivial atmosphere that can be felt as soon as you step onboard.

Highlights on board include a beach club spa, 12-seater cinema with sound-proofing for the very best acoustic experience and vast 8-meter heated swimming pool via an innovative heat recovery system from its generators, as well as large well-equipped gymnasium up on her sky deck affording glorious views.

She provides accommodation for 12 guests across 8 cabins, including a sprawling full-beam owner’s duplex.

Best for: epic exploration in opulent surrounds

Legendary Lürssen superyacht OCTOPUS made serious waves when it was announced she was going to be available for charter for the very first time from January 2022.

A pioneering 126m vessel that was the largest explorer yacht ever built at the time of her launch in 2003, she's been mostly shrouded in secrecy until now. Up to 26 charterers in 13 elegantly appointed suites will have the joy of chartering OCTOPUS, with the primary guests being able to luxuriate in their own private bar, Jacuzzi, alfresco dining area and elevator in the Owner's suite.

Superyacht OCTOPUS is an iconic explorer yacht, available for charter in 2022 for the very first time

Packed bow to stern with seriously impressive charter-focused amenities, guests can quench their thirst for adventure in the utmost style and luxury. She boasts a showstopping aft swimming pool encircled by loungers, as well as a gorgeous glass-bottomed observation lounge, spa, library, basketball court, cinema and even a sound studio.

Best for: corporate yacht charters

Superyacht DREAM is a mammoth vessel that offers expansive and intimate areas for dining, sunning and relaxing, making her the ideal choice for a corporate yacht charter. A true declaration of superyacht style, this luxury yacht was built in 1997  by Olympic Yacht Services before being carefully refitted in 2018 to keep her in flawless condition. Her exteriors are crafted by Studio Vafiadis and interiors are helmed by CQStudio.

Sleeping up to 36 yacht charter guests across 22 plush rooms (one master suite, 2 VIP staterooms, 6 double cabins, and 9 double/twin cabins) she truly is a yacht of epic proportions. And with such colossal size comes an extraordinary number of amenities: including a sundeck swimming pool, helipad and swim-up bar, plus a multitude of wellness and beauty facilities. Whenever the open water beckons, peruse her veritable flotilla of toys and tenders for a rip-roaring ride.

Best for: vast interior and exterior spaces

Representing Benetti’s longest yacht built to date, the 108-meter superyacht IJE is a sleek charter platform offering endless possibilities for her guests. Whether that’s lounging in her chic interiors or taking advantage of more than 1,000 square-meters of outdoor space; from her bridge deck fire pit to her vast full-beam beach club the guests will be spoiled for choice. 

The yacht’s 3,367 GT of interior volume also ensures there’s plenty of sleeping space, with accommodation for 12 charter guests in no less than 11 cabins, along with 28 dedicated crew members on hand to offer exceptional 5-star service at all hours of the day and night.

Guests will particularly delight in her beautiful light-infused interiors, equipped with a wellness suite where guests can enjoy a wide range of treatments, as well as a gymnasium that overlooks the water thanks to a hydraulic fold-out platform on the yacht’s starboard side. There is also a dedicated movie theater with an array of wide plush sofas – perfect for lounging with a bucket of popcorn in front of your favorite film.

Best for: cruising in comfort

Luxury yacht LANA provides accommodation for up to 12 guests in eight cabins. She is replete with exciting onboard amenities, including a beach club with spa facilities and a continuous connection to the ocean, thanks to a swim platform and twin fold-out sections on both sides of the beam.

The yacht enjoys tasteful and minimal interiors from Benetti ’s in-house team, who have made full use of the tall windows and subsequent infusions of light. The owner’s suite onboard LANA is particularly lavish, with fold-out balconies flanking the space, large private dressing rooms and an interconnecting bathroom.

Best for: Award-winning interiors and layout

Boasting a wealth of amenities, highly-trained crew and unmistakable Feadship pedigree, the 97m (317ft) superyacht FAITH is one of the finest yachts in the fleet and supremely worthy of her charter price tag.

Delivered in 2017, and refitted in 2022, this award-winning yacht is brimming with crowd-pleasing features. Nowhere is this more evident than on her main deck aft, where you’ll find an impressive 9 meter by 3.5 meter glass-bottomed swimming pool, which floods light into her vast beach club below replete with a large bar and fold-out sea terraces for unparalleled waterside living.

FAITH is one of the most sophisticated superyachts ever to grace the world’s oceans

Additional highlights include a mammoth games deck with facilities for football, tennis, volleyball, paddle tennis, basketball and golf, as well as a dedicated wellness center with a beauty treatment room, spacious Hammam and snow room – ideal for muscle therapy, plus a sundeck gymnasium with indoor/outdoor layout. There’s also two movie theaters for cozy nights in, either inside or under the stars. 

She provides accommodation for 12 charter guests across 7 suites, including a dedicated owner’s deck with skylight and fireplace, plus a crew of 32 are on hand to offer the highest level of service. The yacht also comes with three on-board chefs trained in different disciplines, offering a dining experience unmatched by other yachts in the charter fleet.

Best for: a lavish superyacht vacation

Since 95m superyacht MADSUMMER made her charter debut in 2019 she has been met with critical acclaim, awarded with a continous string of accolades for her cutting edge exterior and interior design. Showcasing a riot of color, she sleeps up to 12 guests in 10 cabins all fitted with Calcutta-marbled ensuites, with her bridge deck master suite featuring its own private terrace. To ensure every possible guest whim is met, she also accommodates up to 28 members of crew.

Showcasing cutting-edge design and spectacular amenities decked in a kaleidoscope of colour, superyacht MADSUMMER is a one-of-a-kind vessel.

Upon boarding charter yacht MADSUMMER, the only words guests will be uttering is an endless murmur of wow — she's nothing short of extraordinary. Her standout amenities (of which there are many) include a 12m swimming pool with Jacuzzi, cinema, sprawling beach club, extensive spa facilities, and even a room completely dedicated to diving.

And when you are keen to jump off-board, superyacht MADSUMMER's glorious selection of water toys and tenders (which includes an uber-sleek 11m limo tender and Husky seaplane) will keep you occupied.

Best for: entertaining in style

Luxury yacht LADY S   comes from one of the most revered shipyards in the world: Feadship. She is also one of the most sought-after yachts on the charter market.  Her interiors are by the esteemed Reymond Langton Design, who has styled the yacht to reflect a contemporary jewelry box with plenty of crystals and shimmering surfaces. 

Offering accommodation for 12 guests in seven suites, superyacht LADY S's most impressive onboard highlights include her duplex IMAX cinema, an amenity that had never previously before featured on a yacht. She also volunteers two helipads, and the one positioned aft doubles as a basketball court.

Hard to miss on her main deck aft is an enticing swimming pool that offers separate shaded and sunning areas. Below it, the beach club is suffused with light, featuring generously sized large side-opening balconies.

Want to see her sheer size in perspective? Take a look at this video of superyacht Lady S in Portofino .

Best for: Endless entertaining in a supremely opulent setting

Luxury yacht AQUARIUS artfully fuses iconic Feadship design with contemporary flair throughout her indoor and outdoor spaces. With her exterior craftsmanship styled by De Voogt, and her deluxe interior by Sinot Yacht Design, she is a superyacht that has a lot up her sleeve, waiting to be discovered. 

She comfortably accommodates 12 guests in 7 gracefully designed staterooms, comprising a master suite and 6 VIP staterooms, all kitted out with state-of-the-art facilities to ensure the best possible charter experience.

Her splendid spaces are copious, but highlights worth mentoring are absolutely her capacious owner's penthouse, featuring its own private aft balcony, cinema suite, impressive 6.5m swimming pool cum dancefloor, as well as her extensive array of water toys and tenders. This includes a custom glass-roofed Venetian taxi and Riva tender.

Best for: extravagant interiors and premium exterior living

Joining the fleet of luxury yacht rentals in 2024, 400.3ft (122m) superyacht KISMET offers an opulent luxury yacht charter experience with highly indulgent interiors and exteriors that blend seamlessly to create a unique and inviting environment.

Featuring a plethora of key highlights including a state-of-the-art cinema, a deck Jacuzzi and swimming pool, a grand piano, and a spa-quality health and wellness center, this striking Lurssen charter yacht is the perfect match for charter guests wanting the utmost luxury and indulgence.

KISMET is spacious and packed with things to do making her fully primed for guests seeking a luxury charter at sea

Boasting collaborative design input from well-known designers Nuvolari Lenard and Reymond Langton Design, she can comfortably accommodate up to 12 charter guests in a well-appointed eight-cabin layout.

Superyacht KISMET offers the ultimate yacht charter experience with an ongoing list of amenities to be enjoyed across the decks and beyond.

If you would like more information about any of these superyachts, please reach out to your preferred yacht charter broker .

Are you considering renting a luxury yacht for a crewed yacht charter vacation? You can view and compare the complete fleet of superyachts for charter  to find the best one to suit the needs of you and your charter party. 

Be sure to check out our yacht charter destination features for inspiration to plan to help you plan your dream superyacht charter vacation. 

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SUPERYACHTS WHICH COST OVER $1 MILLION PER WEEK TO RENT:

136m Lurssen 2019

126m Lurssen 2003 / 2024

122m Lurssen 2024

115m Lurssen 2021

108m Benetti 2019

107m Olympic Yacht Services 1997 / 2022

97m Feadship 2017 / 2022

95m Lurssen 2019

95m Golden Yachts 2020

93m Feadship 2019

92m Feadship 2016

92m Neorion 2004 / 2023

92m Oceanco 2014 / 2023

90m Lurssen 2010 / 2024

90m Oceanco 2018 / 2024

89m Oceanco 2017

89m Oceanco 2015 / 2023

86m Oceanco 2010 / 2018

85m Lurssen 2011 / 2019

85m Lurssen 2013 / 2022

84m Feadship 2015 / 2020

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Most Expensive

The 20 most expensive yachts in the world.

What are the most expensive yachts in the world?

If you have a passion for sailing or can appreciate the engineering masterpieces mentioned below, then this is an article for you. 

To be able to afford even afford the cheapest superyacht on our list, your net worth will need to be in the hundreds of millions, if not, billions range!

Here’s a list of the 20 most expensive yachts in the world…  

Table of Contents

The list of yachts and figures mentioned below have been compiled from various sources around the web, such as Luxhabitat , List25 and Unilad . 

These are the 20 most expensive yachts in the world:  

20. Lionheart – $150 Million

Sir Philip Green kicks off the list with his 207-foot behemoth, Lionheart.

The British retail billionaire commissioned Italian shipbuilding company, Benetti, to build his superyacht.

The boat has six VIP rooms, several private balconies and was finished in 2016.

Lionheart has had many famous faces walking its decks, including Kate Moss , Simon Cowell and Cristiano Ronaldo .

19. Aviva – $150 Million

British billionaire Joe Lewis’s superyacht comes in at number nineteen at a cool $150 million.

His boat has a full-size tennis court and is thought to house some of his most precious and expensive art pieces, including Picasso.

When he’s not spending time in his Bahamas residence, Joe spends several months a year aboard Aviva and his other three superyachts.

18. Solandge – $180 Million

Next up, we have the $180 million dollar superyacht built by Lurssen. 

In 2017, the Solandge was the highest brokerage and is available to rent for around $1.1 million a week.

The 280-foot yacht has eight VIP suites, a grand piano and a glass art installation by Murano.

17. Ecstasea – $200 Million

Built by Russian oligarch Roman Abramovich in 2004, Ecstasea was the largest Feadship ever built.

The yacht is made of steel and is approximately 85.95 metres long and has a beam of 11.50 metres. This means it has a deadweight of 585 metric tons!

Ecstasea comfortably sleeps 14 passengers and has won multiple design awards for its stunning interior.

16. The Rising Sun – $200 Million

The Rising Sun was designed by Jon Bannenberg and built by Lürssen in 2004 for Larry Ellison .

It has 82 rooms over five floors, a basketball court, wine cellar and a movie theatre.

From 2010 it has been owned by David Geffen and is the 12th largest superyacht in the world, measuring 138 metres.

The Rising Sun cost $200 million to build and has since had even more money spent on luxury fixtures and fittings.

15. Octopus – $200 Million 

Designed and built in 2003 for Microsoft Co-founder, Paul Allen, Octopus has one hell of a lavish interior.

It has a large study, basketball court, recording studio, an outside bar with a whirlpool and a glass bottom swimming pool.

Octopus sleeps up to 26 guests and 56 crew members at any one time and comes equipped with two submarines and two helipads. 

14. Lady Moura – $210 Million

The next most expensive superyacht in the world is Lady Moura.

Lady Moura is owned by Saudi Arabian businessman Nasser Al-Rashid, who’s also an advisor to the Saudi Royal family.

The yacht comes with some very impressive features, such as a pool with a retractable roof, a helicopter and 24 karat gold lettering and embellishments throughout.

If that wasn’t enough, Lady Moura also features a unique sand-covered hydraulic platform that comes out of one side, to give guests a beach-like experience in the middle of the ocean.

13. Al Mirqab – $250 Million 

Al Mirqab is owned by Sheikh Hamad bin Jassim bin Jaber Al-Thani, the former Prime Minister of Qatar.

The yacht has 10 bedrooms, a helipad, a swimming pool, a selection of VIP suites, an onboard cinema, jacuzzi and a variety of watersports equipment.

After it was completed in 2008, it was dubbed the second most beautiful yacht in the world.

It can accommodate up to 24 guests and comfortably house crew members in its 55 crew cabins.

12. Dilbar – $256 Million

Number twelve is Russian owned superyacht, Dilbar.

It belongs to Russian oligarch Alisher Usmanov, and he’s often seen using Dilbar to cruise around his private islands.

As well as being one of the most expensive yachts in the world, it’s also one of the largest – measuring a colossal 360ft in length and just over 50ft high.

It was built in 2008 by Lürssen Yachts and was named after Alisher’s mother.

Dilbar has one helipad, several swimming pools and accommodates 20 guests and 48 cabin crew.

11. Pelorus – $300 Million

Pelorus was built by Lürssen in 2003 and bought by Russian billionaire, Roman Abramovich in 2004.

Since then, Pelorus has changed hands a few times and is now owned by HongKong based billionaire, Samuel Tak Lee.

Pelorus is 115 meters long and weighs a staggering 5517 tonnes.

As well as all the normal luxuries you’d expect to find onboard a superyacht of this calibre, she also comes equipped with two helipads, landing boats and jet skis.

She accommodates a full-time crew of 46, year round.

10. Serene – $300 Million

The tenth most expensive yacht in the world is the 439-foot, Serene.

Built-in 2011 by Fincantieri, for Russian billionaire Yuri Scheffler, Serene is has been one of the favourite rental yachts for the mega-rich, reportedly costing celebrities like Bill Gates around million a week!

It was purchased in 2015 by Prince Mohammed bin Salman of Saudi Arabia and sleeps around 24 guests and 52 crew members.

It comes with multiple swimming pools, two helipads, a submarine, and an amazing underwater viewing room!

9. Al Said – $300 Million

The next mega yacht on the list is owned by and named after the Sultan of Oman, Qaboos Bin Said Al Said.

Built between 2007-2008, little else is known about the Al Said, other than it has a large concert hall that’s big enough to house a 50-piece orchestra.

Also, it can host up to 70 guests, sleep a crew of 154 and reach around 22 knots!

8. Radiant – $320 Million

Built by Lürssen in 2009, Radiant is owned by Emirate Billionaire Abdulla Al Futtaim.

The superyacht is roughly 110 meters long, weighs approximately 5027 gross tons and sleeps up to 20 guests and 44 crew members.

She comes with multiple swimming pools, a helipad, a massage room, a swimming platform, a movie theatre, a gym and a jacuzzi.

The Radiant is also equipped with a highly powerful water cannon to defend herself from pirate attacks!

7. Dubai – $400 Million

Dubai is owned by the Sheik of Dubai, Mohammed Rashid al-Maktoum.

Some of its features include jacuzzis, a swimming pool with handmade tiles, a helipad and a striking circular glass staircase which changes colour when lit from above.

Dubai also houses a split-level owner’s deck, several VIP and social areas, guest suites and a crew of up to 115 people.

6. Motor Yacht A – $440 Million 

This very impressive looking 390-foot superyacht was built by Blohm + Voss shipyard and launched in 2008.

It’s thought to be owned by Andrey Melnichenko, a Russian billionaire businessman and philanthropist.

Motor Yacht A can accommodate 14 guests and 42 crew members and is around 400 feet long.

It features a 2,500 sqft master bedroom, a disco, a helicopter hanger, a separate 30-foot speedboat and a glass-bottomed swimming pool.

Awesome! 

5. Topaz – $527 Million

Coming in at number five is this stunning Lürssen built superyacht, Topaz.

She was built for Abu Dhabi tycoon, Sheikh Mansour bin Zayed Al Nahyan in Germany and launched in 2012.

The exterior was designed by Tim Heywood and Terrance Disdale Design did the interior.

It has a large jacuzzi on the main deck, a swimming pool, double helicopter landing pads and a state-of-the-art gym, cinema and conference room.

4. Azzam – $600 Million

This 590-foot megayacht is the world’s largest yacht to date.

Its owned by Sheikh Khalifa bin Zayed al-Nayan, President of the United Arab Emirates and Emir of Abu Dhabi.

Lürssen Yachts are the ones behind this mega build. Azzam has its very own missile defence system, a bullet-proof master suite and can reach speeds of more than 30 knots, or 35mph, making it one of the fastest yachts on the planet!

3. Streets of Monaco – $1 Billion

The first billion-dollar yacht on our list is the “Streets of Monaco”.

By far one of the most impressive and expensive yachts in the world, once finished, the Streets of Monaco is going to be a 509-foot mega yacht, designed to feature miniature versions of some of Monaco’s and Monte Carlos most renowned landmarks.

The finished superyacht will include a go-kart circuit, three swimming pools, a mini-submarine a helipad, seven guest suites, a mini waterfall and a restaurant that with a fabulous underwater view.

2. Eclipse – $1.5 Billion 

The second most expensive yacht in the world, Eclipse, is owned by Roman Abramovich.

The Russian billionaire has spared no expense when it comes to his superyacht.

He’s installed a private defence system, including missile detection sensors, intruder alarms and armour plating and bulletproof windows in his master bedroom. 

On top of that, Eclipse has two helipads, two swimming pools, 24 guest bedrooms, a disco hall and a mini-submarine.

It’s unclear how much Eclipse actually cost, but it is believed to be in the region of $1.5 billion!

1. History Supreme – $4.8 Billion

Topping the list of the most expensive superyachts in the world at an eye-watering $4.8 billion is History Supreme.

This magnificent accomplishment is built from 10,000 kilograms of solid gold and platinum and is 100-foot long.

It was designed by Stuart Huges, a world-renowned luxury designer, for Malaysia’s richest man, Robert Knok. The History Supreme took roughly three years to build and features an array of luxury items.

The master bedroom includes a genuine Tyrannosaurus Rex bone statue and a wall made entirely of meteorite rocks!

If that wasn’t enough, the master suite also has a 24-carat gold Aquavista Panoramic Wall Aquarium.

We hope you enjoyed our list of the 20 most expensive yachts in the world.

How cool would it be to spend a few months a year cruising the world on one of these bad boys!

Here’s a quick recap of the 20 most expensive yachts in the world!

• History Supreme – $4.8 Billion
• Eclipse – $1.5 Billion
• Streets of Monaco – $1 Billion
• Azzam – $600 Million
• Topaz – $527 Million
• Motor Yacht A – $440 Million 
• Dubai – $400 Million
• Radiant – $320 Million
• Al Said – $300 Million
• Serene – $300 Million
• Pelorus – $300 Million
• Dilbar – $256 Million
• Al Mirqab – $250 Million
• Lady Moura – $210 Million
• Octopus – $200 Million 
• The Rising Sun – $200 Million
• Exstasea – $200 Million
• Solandge – $180 Million
• Aviva – $150 Million
• Lionheart – $150 Million

What’s your favourite most expensive yacht? Leave a comment below.

The 10 Most Expensive Precious Metals in the World

The 10 Most Expensive Guitars in the World

Matt McIntyre is a digital marketing consultant and certified marketing strategist. When he's not talking about business or marketing, you'll find him in the gym.

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The 20 Most Expensive Tequilas in the World

What are the most expensive tequilas in the world?

Tequila is one of the most popular liquors in the world and, in the United States alone, nearly 20 million 9-liter cases are consumed every year!

Whether you’re drinking it neat or mixing it into a margarita, you probably have a favorite brand that you know tastes great.

However, some brands can get incredibly expensive, and it is these tequilas that we are counting down today.

How did we select this list of tequilas?

We’ve put over 10 hours of research into re-writing and updating this list for 2024.

The tequilas on this list were selected by taking the current average sale price, at the time of writing.

Prices for rare tequila can vary depending on where they’re listed for sale; so for each tequila on this list, we checked the price across multiple websites and settled on the average.

Next comes the question, when does tequila stop being tequila, and start being artwork?

If you’re a fan of tequila you can probably think of at least one brand that treats their bottles as artwork.

These bottles can often be worth thousands, but is it all just similar tequila in a fancy and unique bottle?

We’ve decided we’re not going to be the judge of what’s tequila and what’s artwork, so what you see on this list reflects a true order, based on price per bottle.

The 2 Most Expensive Tequilas in the World

Tequila is a very versatile liquor and there is no shortage of varieties you can find at your local store.

That said, some of these tequilas are reserved for only the most wealthy buyers, and you certainly won’t want to drink them on a casual night out.

Without further ado, here’s our list of the 20 most expensive tequilas money can buy:

20. 1800 Coleccion Tequila

Price/Bottle: $2,000

This unique expensive tequila gets its name from the year that distillers started using oak barrels for aging, and it is owned by the insanely wealthy Beckmann family.

Distilled twice during its 10-year aging process, this tequila has a flavor reminiscent of Amaretto, but with a bolder kick that reminds you that it’s tequila.

For $2,000, this tequila comes in its own crystal decanter trimmed with pewter and securely placed in a lavish case lined with suede to protect its precious contents.

It doesn’t get much more high-end than that!

19. Barrique de Ponciano Porfidio

Price/Bottle: $2,200

Made from 100% agave, Barrique de Ponciano Porfidio is a luxury tequila that has been aged for 10 years in French oak barrels and it is limited to special batches of only 2,000 bottles per year.

While its purity does impact this tequila’s price, the bottle that it comes in also makes it more expensive.

Each bottle comes with lettering and images engraved with one of the most expensive precious metals in the world, 21-karat gold.

It definitely looks and tastes every bit worth its hefty price tag.

18. Clase Azul Extra Añejo Ultra

Price/Bottle: $2,500

The first Clase Azul product to appear on this list is the only one in regular production and not a limited edition.

Clase Azul’s extra anejo ultra is aged for 5 years in American whiskey and sherry casks.

The bottle is decorated in platinum, silver, and 24-karat gold.

You can expect to pay around $2,500 a bottle for this tequila.

17. AsomBroso Reserva del Porto Extra Anejo

Price/Bottle: $2800

This brandy-like tequila is the type of drink that you break out during life’s greatest milestones.

Aged for 10 years in port wine barrels from Portugal, it is mixed with a small portion of white oak-aged tequila before being bottled.

Stored in a bottle shaped like a historical decanter found in an eighteenth-century Portuguese castle, it even comes secured in its own cedar humidor.

Although this tequila usually costs $2,800, you can sometimes get lucky and find it on sale for $1,499, which is honestly a great price, all things considered.

16. AsomBroso The Collaboration 12 Year Extra Anejo

Price/Bottle: $3,000

AsomBroso’s The Collaboration is an extra anejo tequila, aged 12 years in Silver Oak Cellar’s American casks.

The tequila is bottled inside a crystal decanter hand-made by Luciano Gambaro, a famous Italian artist.

The decanter is then packaged in a custom-polished humidor with laser engraving.

A single bottle might set you back $3,000, but there are places where you might be able to get your hands on one for cheaper.

15. Tesla Tequila Limited Edition Anejo

Price/Bottle: $4,000

It does seem that Elon Musk can do no wrong. 

Tesla Tequila started as an April Fool’s joke but quickly became a physical product that sold out immediately.

For the limited edition variant, only 420 bottles were produced, a number that jokingly references a time when Musk said he was going to take Tesla private at $420 a share.

The numbered limited edition variant with matching shot glass is currently selling for around $4,000, whilst the regular variant can fetch up to $1,500.

14. Codigo 1530 14 Year Extra Anejo

Price/Bottle: $4,500

Codigo’s 1530 extra Añejo has been aged inside French White Oak Napa Valley Cabernet wine barrels for 14 years and then finished in French Cognac casks.

This is Codigo’s most expensive tequila they’ve ever produced.

A single bottle is now worth $4,500.

13. Clase Azul Pink Limited Edition Reposado

Price/Bottle: $6,000

This isn’t the first Clase Azul tequila featured on this list, and it definitely won’t be the last.

The ‘Pink’ limited edition reposado was originally released in 2016 for breast cancer awareness, with a percentage of the proceeds being donated to charity.

Just 3000 bottles of the original 2016 version were produced, featuring a white bottle hand-painted with pink artwork.

There have since been one or two other ‘Pink’ breast cancer awareness releases from Clase Azul.

12. Patron Limited Edition En Lalique Serie 3

Price/Bottle: $7,500

Patron’s En Lalique Serie line the creme de la creme of their tequila. 

Whatever we have here is the Serie 3, their latest release, but it’s the least expensive of the three.

The Serie 3 contains a blend of 14 different extra anejo tequilas, aged in 6 different barrel types.

Held in a crystal hand-carved decanter, with decoration inspired by the Weber Blue Agave.

The decanter is stored inside a luxurious wooden box.

Each decanter is numbered, and given the fact that this is Patron’s latest release, you can expect the Serie 3’s price to rise over the next few years.

11. Patron Limited Edition En Lalique Serie 1 Extra Anejo

Price/Bottle: $8000

Patron’s En Lalique Serie 1 uses some of their oldest tequila, presented in a hand-made decanter inspired by Mexico’s Weber Blue Agave plant, topped off with an amber stopper.

Although this bottle cost $8,000, it’s not their most expensive tequila. 

Patron went one step further for their next tequila, but more on that shortly.

10. Dos Armadillos Extra Anejo Sterling Silver

Price/Bottle: $10,000

The Dos Armadillos Extra Anejo uses only an 8-year mature Blue Weber Agave.

The tequila is bottled in their signature armadillo-armored bottle, however, the armor for this edition is made entirely out of sterling silver.

$10,000 is the current price to pick up one of these bottles, a number that’s far more expensive than any other product in their range.

9. Clase Azul Puebla Limited Edition

The Clase Azul Puebla limited edition tequila was released on the 5th of May 2021, to commemorate Cinco de Mayo, or the Battle of Puebla.

Cinco de Mayo is a yearly celebration held on the 5th of May to celebrate Mexico’s victory over the Second French Empire in 1862.

Just 300 bottles were produced and sold with a price tag of $400.

If you wished to purchase a bottle of Puebla Limited Edition today, the price would be more along the lines of $10,000.

8. Clase Azul Dia de Muertos Limited Edition

The Dia de Los Muertos collection from Clase Azul features several individual releases, but with most of them fetching similar prices, we’ve decided to include them in one single entry.

Dia de Muertos, or ‘The Day of the Dead’ as it’s otherwise known, is a traditional Mexican holiday celebrated during November. 

Clase Azul has released a new edition within the Dia de Muertos line annually for the past several years.

Some of the bottle designs for the Dia de Muertos range are spectacular and tend to rise in value once they are no longer produced.

7. Patron Limited Edition En Lalique Serie 2 Extra Anejo

Price/Bottle: $10,500

Patron’s En Lalique Serie 2 is aged and made slowly in small batches to ensure perfect quality.

The bottle is carved crystal, featuring a crystal bee stopper with hand-painted gold accents.

It’s then placed inside a wooden box that spins to open, creating a rather luxurious effect.

We’ve seen prices ranging from $8,000 to $12,000 for this bottle, so if you’re patient you might be able to get it at a good price.

6. Clase Azul Master Artisans

Price/Bottle: $20,000

Clase Azul’s most popular and iconic tequila is their resposado tequila, housed in a blue and white bottle.

In 2021, the brand collaborated with the award-winning artist, Ángel Santos to create a hand-crafted, limited edition resposado.

The ‘Master Artisans’ line aims to highlight the work of Mexico’s most talented artists.

The Ángel Santos edition, which at launch sold for $5,000 a bottle , can now reach up to $20,000.

5. Clase Azul Jalisco 200 Limited Edition

Price/Bottle: $25,000

The Clase Azul Jalisco is an extra anejo tequila, named after Jalisco, a state in Mexico.

As the name might also suggest, only 200 bottles of this limited-edition tequila were distilled.

The tequila comes packaged inside a custom-built wooden box, which opens to reveal a drinking glass on either side.

With just 200 bottles released, getting your hands on one of these bottles isn’t cheap.

4. Clase Azul 15th Anniversary Edition

Price/bottle: $30,000.

The Clase Azul celebrated its 15th anniversary by releasing 15 limited edition bottles priced at $30,000 each.

Each of the unique bottles was handcrafted to convey the story of Mexico and all proceeds from the sale of these bottles were donated to the Fundacion con Causa Azul A.C, which supports the work of craftsmen and artisans in Mexico.

Although this tequila is no longer available for sale, we imagine that Clase Azul will release another special edition for a future anniversary, so if you want to grab a bottle, be sure to keep your eyes peeled.

3. Jose Cuervo 250 Aniversario The Rolling Stones Special Edition

Price/Bottle: $75,000

Jose Cuervo was the very first legal tequila company to be established, with the company’s history dating back to 1795 .

To celebrate the 250th anniversary of Case Cuervo, Jose Cuervo released the 250 Anniversario tequila.

They also released a limited edition of the tequila, in collaboration with the Rolling Stones rock band.

The Jose Cuervo brand played a leading role in the Rolling Stones’ 1972 North American tour, ‘Tequila Sunrise’.

For the Rolling Stones special edition, the tequila bottle is embossed with the famous ‘Hot Lips’ logo in 14-carat gold, and spikes along the sides.

It also comes packaged in a leather guitar-shaped case, including seven shot glasses.

The tequila was initially released with a price tag of just $4,000, but prices have skyrocketed to almost $75,000 since then.

2. Tequila Ley .925 Ultra-Premium

Price/Bottle: $225,000

In 2006, the artists at Tequila Ley designed three unique bottles to contain the tequila designed by Mexican artist Alejandro Gomez.

Each bottle was only created 33 times, for a total of 99 bottles, each more expensive than the last.

While this tequila in a glass bottle retails for $3,500, the gold and silver bottle goes for $25,000, and the gold and platinum for $150,000.

The most expensive of all was the white gold and platinum, which carried the insane price tag of $225,000!

Although the tequila itself is delectable, the real stars are the bottles that collectors and tequila enthusiasts scrambled to try and grab while they lasted.

1. Tequila Ley .925 Diamante

Price/Bottle: $3.5 Million

Recorded as the most expensive tequila ever sold by a mile, the .925 Diamante is a true work of art.

The Ley .925 Diamante tequila is made from 100% Blue Weber agave, which is grown in the highlands of Jalisco, Mexico.

The tequila is then aged for 7 years inside French Oak barrels before being poured into a platinum and white gold version of Tequila Ley’s signature-shaped bottle.

However, none of these things truly account for the Diamante’s insane price tag.

As the name might suggest, the bottle is encrusted with 4000 diamonds, amounting to a total of 18.5 carats.

Now that we’ve come to the end of the list, you might have noticed a common theme.

Clase Azul had the most entries on this list, holding seven positions in the top 20.

This is largely due to the fact they treat their bottles as artwork, often showcasing hand-painted art in limited edition releases.

That’s not to take away from their tequila, but to say that their unique approach is very popular among collectors and tequila enthusiasts alike.

Here’s a quick recap of the 20 most expensive tequilas in the world:

• Tequila Ley .925 Diamante
• Tequila Ley .925 Ultra-Premium
• Jose Cuervo 250 Aniversario The Rolling Stones Special Edition
• Clase Azul 15th Anniversary Edition
• Clase Azul Jalisco 200 Limited Edition
• Clase Azul Tequila Master Artisans
• Patron Limited Edition En Lalique Serie 2 Extra Anejo
• Clase Azul Dia de Los Muertos Limited Edition
• Clase Azul Puebla Limited Edition Tequila
• Dos Armadillos Sterling Silver Extra Anejo
• Patron Limited Edition En Lalique Serie 1 Extra Anejo
• Patron Limited Edition En Lalique Serie 3
• Clase Azul Pink Limited Edition Reposado
• Codigo 1530 Fourteen Years Extra Anejo
• Tesla Tequila Anejo
• Asombroso The Collaboration 12 Year Extra Anejo
• AsomBroso Reserva del Porto Extra Anejo
• Clase Azul Extra Añejo Ultra
• Barrique de Ponciano Porfidio
• 1800 Coleccion Tequila

Are there any tequilas we missed out from the list? Leave a comment below.

The 25 most expensive cigars in the world.

What are the most expensive cigars in the world?

Cigars have risen in price rapidly over the past two decades.

They’re associated with luxury and wealth more than ever before, and cigar aficionados are constantly looking for rare and exclusive cigars to add to their collections.

This begs the question: how expensive can cigars be, and how difficult could it be to get your hands on the rarest of the rare?

Today we’re bringing you our updated list of the most expensive cigars in the world.

How did we select this list of cigars?

One of the issues with many expensive cigar lists on the internet, including the original version of our own, is how the cigar values are calculated.

For instance, there was once an auction for a very rare box of cigars that sold for more than half a million dollars, but the box consisted of almost 800 cigars. More details on that are below.

We’ve decided to thoroughly calculate the price/stick for each of the entries on this list, so you can have a clearer understanding of exactly which cigars are the most expensive in the world.

Whilst it may be difficult to obtain some of these cigars individually, assuming you’d want to obtain them of course, we think this is the best way of ranking the list.

Another thing we decided to take into account is limited edition releases which are packaged in custom humidors instead of regular boxes.

These humidors can often cost thousands of dollars alone, and end up distorting the price of the cigar.

Can people still buy these cigars?

Most of the cigars featured on this list can still be bought and smoked to this day. 

Many of them are limited edition lines and are likely harder to find than most cigars.

What exactly makes some cigars more expensive than others?

Typically, there are a few things that can factor into cigar price:

• Limited edition productions
• Aged tobacco
• Brand recognition

Limited edition productions can often limit the total number of cigars produced, and as time passes the number of those remaining drops.

A lot of rare cigar releases also use aged tobacco leaves, and you’ll see several brands on this list that age their tobacco for at least 10 years before the cigar is rolled.

Brand recognition also plays a part as particular brands such as Cohiba are always sought after.

Finally, if none of the above results in a cigar being expensive, there are a select few who will cover cigars in gold leaf, and diamonds, and infuse them with expensive cognac.

But more on that later.

The 25 Most Expensive Cigars

We’ve done countless hours of research to ensure that our updated version of this list is the best resource available.

Without further ado, let’s get into this list of the 25 most expensive cigars in the world:

25. El Septimo The Zaya Collection (Mirifico Sapphire)

Price/Stick: $100

The Zaya Collection, produced by El Septimo, contains 8 different varieties of cigars.

Each variety contains five different filler tobaccos, with the tobacco leaves aged up to 15 years.

Typically, each cigar features are larger ring gauge of around 60, due to the variety of filler leaves used.

Whilst the cigars within this collection have very different flavor profiles from one another, the prices/stick are relatively similar.

At the time of researching this article, we’ve included the variety selling for the most, which is Mirifico Sapphire, at $100/stick.

Other varieties within the collection include:

• Bomba Orange
• Short Dream Topaz
• Kolosso Amethyst
• Fabuloso Dark Ruby
• Excepcion Esmerelda
• Double Shot White
• Bullet Black

24. Arturo Fuente Opus X 20th Anniversary

Price/Stick: $115

Arturo Fuente has long been known for their high-quality cigars, and their Opus X range contains some of the most sought-after cigars in the brand’s history.

The Opus X line was created in 1995 and in 2016 Fuente released the ‘Opus X 20th Anniversary’ edition to commemorate 20 years of the Opus X.

The ’20th Anniversary’ line contained four cigars:

• Father & Son
• God’s Whisper
• Power of A Dream

The prices do vary between each variety, however, because the ‘God’s Whisper’ variety comes in a ‘Perfecto’ size it tends to be sold for higher prices than the rest of the line.

23. Cohiba Spectre 2023

Price/Stick: $130

The Spectre line from Cohiba was initially introduced in 2018 and cost $90 per stick.

Separate versions of the Cohiba Spectre have since been released annually, with the most expensive being the Spectre 2023.

The 2023 Spectre is limited to 600 boxes of 10 cigars, featuring a 52 ring gauge and 6 1/2 inches in length.

What’s most interesting about the release is the packaging, which differs somewhat from most cigars, including that of Cohiba.

The cigars are stored in a box that opens vertically, featuring a hydraulic system that elevates the tubed cigars when you press the ‘O’ button inside the Cohiba logo.

22. Davidoff Royal Release Salamones

Price/Stick: $150

To be qualified enough to roll the Royal Release Salamones, Davidoff makes sure you have more than 15 years of experience rolling cigars.

This cigar is only rolled by 8 different people who together have rolled over 7 million cigars.

The Royal Release Salmones takes 10 years to grow from tobacco seed to finished product and is sold in boxes of 10 for $1,500.

21. Hoyo de Monterrey Epicure No. 2 Reserva Cosecha 2012

Price/Stick: $181

The Epicure No. 2 is one of Hoyo de Monterrey’s signature cigars.

In 2016, Habanos SA announced the release of the No. 2 Reserva Cosecha 2012.

This blend only uses tobacco leaves from 2012, aged for a minimum of three years.

With just 5000 boxes of 20 cigars produced, this cigar is bound to increase in value with time.

20. Hoyo de Monterrey Double Coronas Gran Reserva Cosecha 2013

Price/Stick: $200

Here we have another Hoyo de Monterrey ‘Reserva’ release, the Double Coronas Gran Reserva Cosecha 2013.

Typically, Gran Reserva lines are more sought after than regular Reserva series, due to the difference in tobacco aging.

Reserva cigar blends use tobacco leaves that are aged for a minimum of three years.

Whereas Gran Reserva blends use tobacco leaves aged for a minimum of 5 years.

Gran Reservas are also produced with only 15 sticks per box, instead of the usual 20.

19. Cohiba Siglo De Oro (Year of the Rabbit)

Price/Stick: $250

In 2023, Cohiba announced the release of the Siglo De Oro, to commemorate both the Chinese ‘Year of the Rabbit’, and also the 30th anniversary of the Siglo series.

Naturally, people across China, Hong Kong, and various other countries in Asia were the first to see these cigars unveiled.

Only 18,888 boxes of the Siglo De Oro will be produced.

That number might sound oddly specific, and it is indeed no coincidence, as the number 8 is lucky in Chinese culture.

The Siglo De Oro is a 54 ring gauge, 4 1/2 inch long cigar, sold in boxes of 18.

  18. H. Upmann Sir Winston Gran Reserva Cosecha 2011

Price/Stick: $260

H. Upmann is one of the oldest cigar brands in the world, with history going all the way back to 1843.

The Sir Winston Gran Reserva Cosecha is of course named after the legendary Sir Winston Churchill , who was known not only for being one of the most important prime ministers in British history; but also for his love of cigars.

The Gran Reserve line was launched by H. Upmann in 2009, and in 2011 the Sir Winston edition was released.

Just 5000 boxes of 15 cigars were produced, for a total of 75,000 cigars.

17. Partagas Serie E No.1 Colección Habanos 2013

Price/stick: $280.

The Serie E No. 1 Colección Habanos 2013 from Partagas appears 18th on our list of the most expensive cigars.

With this particular cigar now being over 10 years old, its price has risen heavily.

You can still find this cigar for sale in the USA for roughly $280 per stick, however, prices do vary.

16. Hoyo De Monterrey Maravillas Collection 2015

Price/stick: $290.

The most expensive Hoyo de Monterrey cigar is the Maravillas Collection 2015.

There were just 2000 boxes of 20 cigars produced, amounting to a total of 40,000 cigars.

Given the smaller production number in comparison to the other Hoyo de Monterrey’s featured on this list, you can expect to pay $290/stick for this cigar.

15. Cohiba Behike Series

Price/Stick $300

Cohiba Behikes are one of the most popular and sought-after cigars in the world.

Behike cigars are known for their full-strength flavor and quality, provided you can get your hands on the authentic product.

They’re sold in three different ring gauges: 52, 54, and 56.

These sizes are represented in their names respectively: Behike 52, Behike 54, and Behike 56.

The Cohiba Behike cigars are sold in 10-count boxes and increase in price depending on their size.

14. Oliva Serie V Roaring Twenties Super Limited Edition

Oliva Cigar Co. are well known for producing cigars that provide a great smoking experience for a great value.

However, in 2023 they decided to do something a little different.

The most popular line of Oliva cigars is the ‘Series V’, and last year they announced a new Series V Roaring Twenties Super Limited Edition.

When we take a look at the average price of an Oliva cigar, we can see a price of around $10, so what’s different?

The packaging is the most notable difference, with the Roaring Twenties SLE cigars being placed in boxes produced by Daniel Marshall.

Half of the cigars (the top layer) are also covered in gold foil.

In addition, there will only ever be 300 boxes created, for a total of 3000 cigars.

13. Trinidad Casilda Coleccion Habanos 2019

Price/stick: $370.

As you may have already noticed, Habanos limited edition collections can become incredibly expensive.

The Trinidad Casilda 2019 is another edition within the Coleccion Habanos with only 3000 boxes being produced.

This cigar once again features the traditional book-shaped box packaging as with any ‘Coleccion Habanos’ release.

Getting your hands on a single stick could cost up to $370.

12. Daniel Marshall 24KT Golden Gigante

Price/Stick: $395

Continuing both the obsession with gold and also the story of Daniel Marshall brings us to the next cigar on our list.

For those who are unaware of Daniel Marshall ; he’s a well-known figure within the cigar industry for his work with manufacturing custom humidors.

In 2011, Marshall decided to create a 24KT gold cigar for his friend’s 64th birthday. 

Marshall then produced a limited run of the cigar which would be packaged in a custom-signed travel humidor.

The 24kt cigar comes in two sizes, Torpedo and Gigante, with the Gigante size being the more expensive of the two.

Its base is that of the DM2 cigar, also sold by Daniel Marshall, which is rolled and sold to him by the Plasencia factory.

Daniel then covers the cigar with a thin layer of gold leaf from Italy.

  11. Montecristo Gran Piramides Limited Edition 2017

Price/Stick: $400 

Montecristo is one of the most popular cigar brands in the world, and one of their most expensive cigars is the Gran Piramides Limited Edition from 2017.

The Gran Piramides are part of the ‘Coleccion Habanos’, which come packaged in a box that’s shaped to look like a book.

At its core, the Gran Piramides are a Montecristo No. 2 that has been increased in size for this limited collection.

This cigar has a length of 6.25 inches and a ring gauge of 57, while Montecristo No. 2’s are a 52 ring gauge, and slightly shorter in length.

Only 2000 boxes of the Gran Piramides 2017 were produced by Habanos SA.

10. Partagas Lusitanias Gran Reserva Cosecha 2007

Price/Stick: $430

Continuing with another Habanos SA-produced cigar, the 2007 Gran Reserva Lusitanias from Partagas is our 11th most expensive cigar.

Just 5000 boxes of 15 cigars were produced, resulting in a total count of 75,000 cigars.

The Gran Reserve Cosecha 2007 can still be found for sale, but given its age, you might have to shell out more than you wish to.

9. Cohiba Talisman Edicion Limitada 2017

Price/Stick: $450

When it was originally released, the Cohiba Talisman EL 2017 cost just $547 for a box of 10.

Since their release, the price has risen rapidly year over year.

The cigars were produced at the world-famous El Laguito factory in Havana, Cuba.

At the time of writing this article, you’d be lucky to find a single stick for under $450.

8. Cohiba 55 Aniversario Edicion Limitada 2021

Price/Stick: $500

While not the most expensive release from Cohiba in the year 2021, the next entry on this list was certainly an important one.

The 55 Anniversario Edicion Limitada 2021 marked the 55th anniversary of Cohiba.

As the name suggests, the cigar was indeed a limited edition, and difficult to get a hold of.

The cigar was released in 10-count boxes, costing roughly $5000/box.

7. Davidoff Oro Blanco

Price/Stick: $600

Davidoff claims that the Oro Blanco is the most exceptional cigar they’ve ever created.

The Oro Blanco is a 6-inch, 54 ring gauge, toro-shaped cigar, with an all-Dominican wrapper, binder, and filler

So why does it cost $600 per cigar?

One of the main reasons for its high cost is due to Davidoff’s aging process.

The Oro Blanco, which translates to “White Gold”, is made with tobacco leaves grown in areas with some of the richest soil across the entire Dominican Republic.

The leaves are then aged for 12 years before the cigar is rolled; a task completed only by Davidoff’s most experienced rollers (15+ years of experience).

After one additional year of aging, the single cigar is then reviewed, approved, and placed into a custom box.

6. Mayan Sicars

Price/stick: $633.

At the beginning of this article, we mentioned a specific auction involving a box of 800 cigars.

In 2012, a large crate of Mayan cigars, expected to be more than 600 years old, was discovered in Guatemala.

It’s important to mention that the most reliable source of this information mentions the sale of all 800 cigars for a total of $507,000, which would put the price/stick at $633.

The cigars were buried deep below the surface in sealed clay pots, and discovered by an archeologist team from Tampa University.

Who paid the $507,000? A man named Gary Liotta, owner of the Santiago Cigar Factory in New York.

5. Gurkha His Majesty’s Reserve

Price/Stick: $750

On the sixth spot, we have Gurkha His Majesty’s Reserve cigar.

It’s made each year, and if you’re a cigar enthusiast, you will need to preorder them a few years beforehand. 

The total size of each cigar is 7-5 x 52 inches. The Connecticut Maduro wrapper comes with a Dominican binder and filler that is aged for 12 years.

The filler is infused with Louis XIII cognac, which gives it an amazing aroma.

This cigar is very rare and special, and the cognac has been known for selling only to dignitaries worldwide. 

A total of 75 boxes are being made every year. The incredible aroma, as well as the taste of the cigar, will be something that you will be so impressed with that you will never forget. 

4. Cohiba Ideales Coleccion 2021

Price/Stick: $1100

As the name suggests, this Cohiba cigar was released in 2021, measuring almost 7 inches in length, with a 56 ring gauge.

The Ideales Coleccion 2021 is limited to just 3000 boxes of 20 cigars, totaling 60,000 sticks.

The box is manufactured to look like a book.

Cohiba’s Ideales Coleccion 2021 is the last cigar to feature on this list that isn’t either covered in gold leaf and crystals or nearly 20 years old.

Which makes it the most expensive plain cigar that can still be purchased today.

3. Gurkha Black Dragon (2006 Edition)

Price/stick: $1,150.

The Gurkha Black Dragon is a cigar that you can still buy and smoke newer versions of to this day, but the original 2006 edition is a rare find.

The OG boxes were handmade using camel bone and were limited to just 5 boxes of 100 cigars.

Those who have smoked the original Black Dragon from 2006, and the newer editions seem to conclude that the taste is more or less the same.

Although the 2006 first edition of the Gurkha Black Dragon cost around $1,150, given how limited it was at the time; the current version of this cigar can be added to your collection for just $40/stick.

2. King of Denmark Cigar

Price/stick: $4,500.

The King of Denmark cigar is produced by Royal Danish and only 30 sticks are rolled per day.

Buyers can customize the cigar with both 24KT gold leaf and Swarovski crystals. 

They’re also able to have their name inscribed on the cigar.

Whilst this cigar doesn’t have to cost you thousands, it can reach up to $4,500/stick depending on the customization.

1. Gurkha Royal Courtesan

Price/Stick: $1.36 Million

The most expensive cigar in the world is the Gurkha Royal Courtesan cigar.

The Royal Courtesan is worth a ridiculous $1.36 million per stick.

One of the most interesting things here is that Gurkha are not known for their quality. 

In fact, Gurkha’s quality control is often a common problem reported by fellow cigar aficionados.

This begs the question: why does this cigar cost so much more money than anything else on the list before it?

Let’s get into the details of the Royal Courtesan:

• The cigar’s filler is infused with Remy Martin’s Louis XIII cognac.
• It’s hand-rolled by a select few skilled rollers, who are blindfolded.
• The band of the cigar is covered in 5-carat diamonds.
• Rare Himalayan tobacco leaves are used for the wrapper.
• The wrapper is also covered in a layer of 24KT gold leaf.
• Personal delivery to the owner by a messenger

Notable Mentions

That concludes our main list of the 25 most expensive cigars in the world.

There are, however, a few entries we’d like to mention.

Although these weren’t included in the main list, they’re worth mentioning to any fellow cigar aficionado.

Regius Double Corona Cigar

Price: $52,000.

We decided to leave out the Regius Double Corona from our main list as the cigar itself is not the main reason for the high price.

In 2013, Regius Cigars developed their Double Corona cigar, which is produced in Nicaragua.

However, the main attraction was not actually the cigar itself, but what was included with the purchase.

The buyer of the cigar would be flown first class out to Regius headquarters in Nicaragua, where they would be given a private tour of the factory.

They would also be allowed to create their own cigar blend, and be given 1000 sticks of said blend to take home with them.

Gran Habano #5 El Gigante

Price: $185,000.

Technically this cigar does have a clear price/stick, selling for $185,000 in 2013.

However, it’s probably worth mentioning that the cigar is 19 feet long, 3 feet thick, and weighs over 600 pounds.

Here are some interesting facts about the Gran Habano #5 El Gigante:

• Despite its size, it can be smoked by multiple people at the same time.
• Made with 1,600 pounds of tobacco.
• Equivalent to smoking 25,000 cigars
• Contains 15,000 wrapper leaves
• Has a ring gauge of 1920
• Weighs 2,500 pounds with the wooden case

We decided to separate the El Gigante from our main list of expensive cigars, but the story itself is worth mentioning.

If you enjoyed this list, don’t forget to check out our other most expensive lists:

• The Most Expensive Vodkas
• The Most Expensive Alcoholic Drinks
• The Most Expensive Cigarettes
• The Most Expensive Bourbons
• The Most Expensive Tequila

Here’s a quick recap of the 25 most expensive cigars in the world, per stick:

• Gurkha Royal Courtesan
• King of Denmark
• Gurkha Black Dragon (2006 Edition)
• Cohiba Ideales Coleccion 2021
• Gurkha His Majesty’s Reserve
• Mayan Sicars
• Davidoff Oro Blanco
• Cohiba 55 Aniversario Edicion Limitada 2021
• Cohiba Talisman Edicion Limitada 2017
• Partagas Lusitanias Gran Reserva Cosecha 2007
• Montecristo Gran Piramides Limited Edition 2017
• Daniel Marshall 24KT Golden Gigante
• Trinidad Casilda Coleccion Habanos 2019
• Oliva Serie V Roaring Twenties Super Limited Edition
• Cohiba Behike Series
• Hoyo De Monterrey Maravillas Collection 2015
• Partagas Serie E No.1 Colección Habanos 2013
• H. Upmann Sir Winston Gran Reserva Cosecha 2011
• Cohiba Siglo De Oro (Year of the Rabbit)
• Hoyo de Monterrey Double Coronas Gran Reserva Cosecha 2013
• Hoyo de Monterrey Epicure No. 2 Reserva Cosecha 2012
• Davidoff Royal Release Salamones
• Cohiba Spectre 2023
• Arturo Fuente Opus X 20th Anniversary
• El Septimo The Zaya Collection (Mirifico Sapphire)

Are there any cigars we’ve missed from this list? Leave a comment below.

The 10 most expensive countries to live in worldwide.

Which are the most expensive countries to live in worldwide? Hold tight, as you’re about to find out.

If you’ve dreamed about moving abroad and starting life afresh in a new country, then read through this list before you do, as you might be shocked to find out just how expensive some of these lesser-known countries are. 

We’ve put together this list based on accommodation and living expenses for a single person living in the capital city of each country, and according to population. 

Here’s a list of the 10 most expensive countries to live in worldwide…

The list of countries and figures mentioned below have been compiled from various sources around the web, such as World Population Review & Nomad List .

These are the 10 most expensive countries to live in worldwide:

10. Barbados – $2,061

Kicking off our list of the 10 most expensive countries to live in worldwide, is Barbados. 

Barbados is a sovereign island nation in the Lesser Antilles of the West Indies, which is the Caribbean region of North America. 

It covers approximately 349km² and is 23 kilometres wide and 34 kilometres long, with a total population of 285,719 people. 

Barbados is the fourth-most densely populated country in the Americas and, it’s capital city, Bridgetown, has approximately 110,000 people living in it. 

To rent a one-bedroom studio apartment in Bridgetown, you’re looking at spending around $500 a month, or $100 a night in an Airbnb. 

A basic meal out will cost you no less than $13. A beer is around $6.50 and coffee is approximately $5.00 depending on where you go. 

9. Japan – $2,612

The ninth most expensive country to live in worldwide is Japan. 

Japan is an archipelago island nation in South-East Asia, made up of 6,852 islands, with a current total population of 126.8 million people. 

Of the 6,582 islands, the four largest islands account for the majority of inhabitants, as roughly 97% Japans population live on the four islands. 

Japan has many major cities, like Osaka, Yokohoma, Nagoya and Sapporo, which are all populated by more than 2 million people. 

However, Tokyo, Japans Capital City and the largest city in Japan, has an approximate population of 37 million people. 

To rent a one-bedroom studio apartment in Tokyo, you’re looking at spending in the region of $1,370 a month, or $111 a night in an Airbnb. 

Eating out varies in price, but as an average for one person, you should be looking at spending around $15.00 for a basic meal and around $6.00 for a beer.

Coffee is also pretty reasonable, considering how expensive Tokyo is, at $2.81 a cup. 

8. Norway – $2,659

Located in Northern Europe, Norway is a Scandinavian country with a total population of 5.3 million people. 

Norway shares its borders with Sweden, Russia and Finland, and has a total landmass of 385,203 km².

It’s only the 171st most densely populated country on earth, with roughly 14 people for every square kilometre. 

Rent is expensive in Norway’s capital, so renting a one-bedroom studio apartment in Oslo, will set you back around $1,193 a month, or $85 a night in an Airbnb. 

You won’t have much change left from $15 when buying a meal out, and a beer will set you back around $9.11.

7. The Bahamas – $2,704

The next most expensive country in the world to live in is The Bahamas. 

Made up of over 700 islands, the Bahamas has an approximate population of 389,482 million people living across its 13,943km² landmass. 

The largest city in the Bahamas is Nassau, with a total population of 255,000. 

If you’re thinking about visiting the Bahamas, then you should budget approximately $950 a month for a one-bedroom studio apartment in the city, or $149 a night for an Airbnb. 

You’ll need to take at least $50-$100 with you when you go out for a meal and some drinks, as a basic meal costs around $15-$20 and a beer will cost you around $2.50. 

Coffee is a little on the expensive side, at around $5 each. 

6. Luxembourg – $2,751

One of the smallest countries on our list, Luxembourg, is also one of the smallest sovereign nations on the planet, and it won’t leave you with a lot of wiggle room when it comes to your monthly expenses. 

Luxembourg is a landlocked country, located in western Europe, and has an estimated population of 620,319 people. 

Its population is small compared to other countries on the list, however, it has roughly 207 people per square kilometre, making it the 67th most densely populated country on earth. 

When you arrive in Luxembourg City, you can expect to pay around $1,322 per month for a one-bedroom studio apartment, or $80 a night in an Airbnb. 

Luxembourg seems like it’s slightly more expensive than the Bahamas when it comes to luxuries like beer and coffee, as one beer will cost you around $9 and coffee will set you back $6. 

Eating a basic meal out will cost between $17-$25 for one person depending on what you order. 

5. Iceland – $2,802

Coming in at number five on our list of the most expensive countries in the world is Iceland. 

Iceland is located between the North and Atlantic Oceans and has a total surface area of 103,001 square kilometres. 

However, Iceland’s population of 339,949 people, remains relatively low in comparison to others on our list as its harsh geographical landscape proves difficult to live in for many, at times. 

As a result, Iceland has the lowest population density of any European country, at just 3 people per kilometre. 

Staying in Iceland will cost you approximately $1,236 a month for a one-bedroom studio apartment in the capital city of Reykjavik, or $128 a night in an Airbnb.  

Whilst you’re there, eating out will cost you around $12 for a basic meal, $8 for a beer and $2.15 for a cup of coffee. 

4. Denmark – $3,312

The southernmost Nordic country in Northern Europe, Denmark, is the fourth most expensive country to live in worldwide. 

Denmark, bordered by Germany, Sweden and Norway has a total current population of 5.7 million people. 

The Scandinavian countries capital city is Copenhagen, which has an urban population of 1.2 million people, and a metropolitan population of 1.99 million.  

Known as one of the happiest places to live on earth, Copenhagen is also a very expensive city to live in.

For a one-bedroom studio apartment, you’re looking at $1,917 a month, or $96 a night in an Airbnb. 

Eating out will cost you approximately $18 per person and beers and coffee are anyway between $5.50-$6.50 a pop!

3. Switzerland – $3,162

Switzerland is the third most expensive country to live in worldwide. 

With more than 8.6 million people living across, 41,285 square kilometres, Switzerland is the 95th most populated country in the world, and the 135th largest country in terms of the total landmass. 

Switzerland has a number of beautiful cities to live in, like it’s capital, Bern, and it’s the largest city, Zurich. 

Bern has approximately 133,000 people living there and accommodation for a month in Bern, for one person, will cost in the region of $1,366, or $86 a night in an Airbnb. 

A meal out will cost you approximately $15-$20, with an additional beer costing around $6.00 and coffee costing around $5.00 a cup. 

2. Cayman Islands – $3,387

The Cayman Islands is the second most populated British overseas territory in the world, just behind Bermuda.

It is located in the western end of the Caribbean sea and has a total current population of approximately 63,000 people. 

It’s made up of a number of islands like Grand Cayman, Little Cayman and Cayman Brac. 

The Cayman Islands are well known for housing offshore companies, and it’s believed that there are over 100,000 companies registered in the Cayman Islands. 

If you’re considering doing business in George Town, the capital city of the Cayman Islands, then a one-bedroom studio apartment will cost you around $1,924 a month or $83 a night in an Airbnb. 

Food and drink on the island are where you might spend a lot of your money.

A basic meal out will cost you at least $20-$30, with beer costing around $8.00 and coffee costing around $7 a cup. 

1. Bermuda – $5,011  

At over $5,000 a month for accommodation and living expenses, Bermuda is the most expensive place to live in worldwide.

Similar to the Cayman Islands, Bermuda is another British territory located in the North Atlantic. 

Bermuda has a total population of approximately 65,000 people living across a total landmass of 20.5 square miles. 

Its capital city, Hamilton, is also Bermudas only incorporated city and has a current population of just over 1,000 people. 

When looking for accommodation in the city, you’re going to need some deep pockets, as a one-bedroom studio apartment will cost you around $2,675 a month, or $212 a night in an Airbnb. 

If you’re a drinker, then get prepared to spend some cash, as one glass of beer will cost you a minimum of $10, and dinner will be around $20-$30 per person. 

Bermuda is the most expensive country to live in worldwide. 

We hope you enjoyed our list of the 10 most expensive countries to live in worldwide.

Well, there you have it, those were some super expensive countries to live in.

Living in those countries might make you think twice about drinking alcohol , on a regular occasion, and make you sharpen the purse strings a bit more.

However, it’s all relative and depends on your disposable income and expenses.

So, if you’re still planning on moving to, or even visiting one of these countries long term, then at least you know what to expect. 

Here’s a quick recap of the 10 most expensive countries to live in worldwide:

• Bermuda – $5,011
• Cayman Islands – $3,387
• Switzerland – $3,162
• Denmark – $3,312
• Iceland – $2,802
• Luxembourg – $2,751
• The Bahamas – $2,704
• Japan – $2,612
• Norway – $2,291
• Barbados – $2,061

What’s your favourite most expensive country? Leave a comment below.

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This $12 million yacht looks like a spaceship and can cross the Atlantic twice on a single tank — see inside 'Adastra'

• A sleek, lavish megayacht fit for a Bond villain, called "Adastra," has hit the market for $12 million.  
• Thanks to its efficient shape and lightweight construction, the yacht can cross the Atlantic twice without refueling and boasts a total range of around 11,500 miles. 
• Adastra has a master bedroom, two guest cabins, and room for six crew members. 
• Visit Business Insider's homepage for more stories .

Some people can't simply settle for a regular, run-of-the-mill superyacht like all the other millionaires and billionaires — they need something a bit flashier to set them apart from the crowd. 

For those people, there are yachts like Adastra , a sleek, custom-built trimaran that's currently on the market for a cool $12 million. 

The extravagant vessel — which looks less like a yacht and more like something out of "Star Wars" — is built for exploration, according to Burgess Yachts , which has the boat listed for sale. Due to its streamlined shape and lightweight construction, Adastra can travel across the Atlantic twice over without needing to refuel. Plus, Adastra's unique design means it can venture into shallow harbors and get up close to islands, unlike most traditional yachts.

But this multimillion-dollar yacht is built for pleasure, too — it sports multiple sunbathing areas, a diving platform, a lavish main room, three cabins for guests, and space for six crew members. 

See inside Adastra:

Adastra, a spaceship-like megayacht fit for a Bond villain, has hit the market for $12 million.

Commissioned in 2012 by shipping tycoon Anto Marden at a cost of at least $20 million, according to Robb Report, the trimaran yacht was built to cover vast distances and cross oceans.

Source: Robb Report

Thanks to its efficient shape, lightweight construction, and 15,000-liter fuel capacity, Adastra boasts a range of 10,000 nautical miles, or roughly 11,500 miles.

That means the 140-foot ship can cross the Atlantic twice over without having to refuel, and its owner has done just that, he told Robb Report.

Plus, the yacht sits less than four feet below the water line, so it can venture into shallow harbors where traditional yachts can't.

After spending several years cruising the globe aboard Adastra, Marden is ready to sell the head-turning vessel and give more attention to his other yacht, he told Robb Report.

To keep passengers comfortable on long journeys, Adastra is every bit as luxurious as it is capable.

Inside, there's a main living space with a wraparound lounge area ...

... and panoramic windows.

The yacht features lots of custom materials — including lightweight oak cabinetry — to decrease weight and improve fuel efficiency.

Behind the lounge, there's a full dining area ...

... complete with a kidney-shaped wood table and a pair of skylights.

Toward the back of the interior, there's a sofa and a bar area.

Below deck, there's a master suite that spans the full width of the hull.

The master bedroom has a private full bath and desk.

In total, Adastra sleeps up to nine guests ...

... along with six crew members.

There's a second full bathroom below deck as well.

The helm station has seating for two, and is raised up above the rest of the yacht.

On the aft deck, there's teak flooring and a couple of lounge areas ...

... including a full dining setup for meals outside.

The back of Adastra sports a large diving platform and has room for two "tenders," smaller boats for recreation and for getting to and from port.

A sliding door at the front of the main saloon gives way to a covered lounging area on the bow.

Plus, there's a tanning area with bean bags for catching some rays. If all that sounds appealing and you've got a spare eight figures sitting around, this may be the yacht for you.

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This $18.5 Million Miami Condo Feels Like It’s Floating on the Ocean

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RELATED: This $50 Million Riverfront Mansion in Florida Comes With a Pool and a Pickleball Court

The serene, clean-lined abode features three bedrooms, three full bedrooms, and one half bath, and there’s an additional 1,500 square feet of sprawling outdoor terraces overlooking the Atlantic Ocean. Throughout the home, you’ll find custom doors, automated lighting from Lutron, and swaths of polished Italian marble. There’s an eco-smart fireplace in the spacious, high-ceilinged living room, where floor-to-ceiling walls of glass provide the illusion of floating on the Atlantic Ocean. Elsewhere, the galley-style gourmet kitchen is by the German brand Eggersman and is complete with top-of-the-line Gaggenau appliances. Alongside the kitchen, a family room encased in glass includes a dark wood-paneled entertainment unit with marble-backed shelves.

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Over the years, notable buyers at the Oceana Bal Harbour have included Michel Doukeris, the CEO of Anheuser-Busch InBev, who purchased a unit in the south tower in 2016 for $6.9 million. He offloaded the spacious unit in 2022 to Morton Olshan, founder of Olshan Properties, The Real Deal reported . The building has seen its fair share of record-breaking deals, too. Last summer, just days after a unit sold for a whopping $22 million, a Chicago buyer dropped an even heftier  $25 million  on another unit, making it the tower’s most expensive transaction to date. 

Click here to see more photos of 10203 Collins Ave, #701. 

Abigail Montanez is a staff writer at Robb Report. She has worked in both print and digital publishing for over half a decade, covering everything from real estate, entertainment, dining, travel to…

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The Palace Coup at the Magic Kingdom

The inside story of how Bob Iger undermined and outmaneuvered Bob Chapek, his chosen successor, and returned to power at Disney.

Credit... Philip Cheung for The New York Times

Supported by

By James B. Stewart and Brooks Barnes

• Sept. 8, 2024 Updated 10:51 a.m. ET

At 5 p.m. on Feb. 25, 2020, Bob Chapek and Bob Iger settled into matching directors’ chairs on the Disney studio lot for a series of live media interviews. The company had just shocked pretty much everybody by announcing that the little-known Mr. Chapek would be replacing the wildly popular Mr. Iger as chief executive.

The bald and stocky Mr. Chapek and the graying but still debonair Mr. Iger struck an immediate contrast, even though both were dressed in navy suits and open-collar white shirts and both were named Bob. To avoid confusion, some referred to them as “Bob One” and “Bob Two,” or “Big Bob” and “Little Bob” (even though Mr. Chapek was taller and heavier). And then there was “Handsome Bob” and “Boring Bob.”

In an interview with Julia Boorstin of CNBC, Mr. Chapek fawned over his predecessor. “I obviously have huge shoes to fill,” he said with wide eyes, hailing Mr. Iger’s “magic” running Disney. Mr. Iger’s 15-year tenure as chief executive had been so successful that he had considered running for president as a Democrat. Queen Elizabeth II knighted him just before she died.

Mr. Iger said he and Mr. Chapek had worked together “extremely well,” but in the next breath qualified that praise: “Actually, our senior management team has worked together quite well.”

Mr. Chapek listened in vain for something more effusive, more personal.

As the questions — and the attention — shifted entirely to Mr. Chapek, Mr. Iger’s usually relaxed demeanor stiffened. His gaze shifted down, away from Mr. Chapek, and he looked increasingly uncomfortable. He crossed his arms.

Mr. Chapek was intimately familiar with Mr. Iger’s body language and expressions. “This is not good,” he thought.

He was right about that. But little did he realize that he and Mr. Iger were about to face off in an epic corporate power struggle with few rivals in business history.

When Mr. Iger stepped down as chief executive — abruptly, just weeks before the coronavirus pandemic plunged Disney into the worst crisis in its history — the company’s board agreed that he could stay on as “creative director” and executive chairman of the board for another two years.

That agreement nearly fell apart over the issue of whom, exactly, Mr. Chapek would answer to: Mr. Iger or the board. A last-minute compromise, reached without a board vote, had Mr. Chapek reporting to both. That proved a recipe for conflict — as Mr. Chapek soon began to realize.

Just weeks into his tenure as chief executive, Mr. Chapek expressed frustration. “I can’t survive another two years of this,” Mr. Chapek told Arthur Bochner , his chief of staff. Mr. Iger is “not going to leave. He’ll be here until he dies.”

Mr. Bochner worried that Mr. Chapek would quit. Mr. Chapek was ultimately deprived of even that option. The board fired him just before Thanksgiving in 2022.

As he had feared, his successor was Mr. Iger.

The New York Times has pieced together what happened inside Disney during those fateful months by talking to scores of people directly involved. Many of them talked extensively for the first time about what transpired, some only on the condition of anonymity because of their nondisclosure agreements with Disney. In each instance in which a past conversation is reconstructed in this article, the spoken words have been confirmed by multiple people with knowledge of the conversations.

Those conversations reveal how Disney’s board and executive ranks were consumed by conflict and drama just as the company was facing historic upheaval in the entertainment industry. When the pandemic hit, right as Mr. Chapek took over, the company had to temporarily close its highly profitable theme parks. In spring 2022, the streaming bubble burst, causing investors to flee all media stocks, including Disney’s.

But inside Disney, much of the focus was on trying to manage the tensions between Mr. Iger and Mr. Chapek.

Those problems have renewed importance now, as Disney embarks on yet another quest to find someone to succeed Mr. Iger, whose contract ends on Dec. 31, 2026.

The ‘Snake Pit’

For a company that bills its theme parks as the “Happiest Place on Earth,” Disney’s corporate headquarters have long been anything but — a hotbed of intrigue and power struggles. Mr. Chapek’s former chief of staff told people the company’s sixth-floor executive suite was a “snake pit.”

Mr. Iger ascended almost two decades ago, after a power struggle between Michael Eisner, a long-serving chief executive, and Roy E. Disney, Walt Disney’s nephew and a Disney board member. By that time, Mr. Eisner had already elevated and then dispatched two handpicked successors, Jeffrey Katzenberg, who became a co-founder of DreamWorks, and Michael Ovitz, once the most powerful agent in Hollywood.

Mr. Iger, who started his career as a weatherman on a cable channel in upstate New York, had vowed to never follow in Mr. Eisner’s footsteps. To friends, he mocked Mr. Eisner’s fears about leaving Disney — that his calls to power brokers would go unreturned, and that he wouldn’t be able to get reservations at top restaurants. He told Mr. Chapek and others that he would never stay more than 10 years.

Mr. Iger seemed well on his way to honoring that pledge. Once, while Mr. Chapek was running Disney’s consumer products division, Mr. Iger paid a rare unscheduled visit to Mr. Chapek at his office several miles from corporate headquarters. Mr. Iger asked whether Mr. Chapek thought Jay Rasulo or Tom Staggs, two top lieutenants, should succeed him as chief executive.

“Do you want my honest answer?” Mr. Chapek replied. “Neither.”

“That’s what I thought you’d say,” Mr. Iger said, according to Mr. Chapek, and then proceeded to list their respective faults.

It was Mr. Chapek’s first inkling that he might be Mr. Iger’s actual choice as successor.

But his hopes were dashed when, in February 2015, Mr. Iger named Mr. Staggs, then the theme park chairman, as chief operating officer and presumptive heir. Around the same time, the board extended Mr. Iger’s contract two years, to 2018, with the expectation that Mr. Iger would spend much of that time grooming Mr. Staggs as his successor.

But Mr. Iger soured on him. He complained that Shanghai Disneyland, Mr. Staggs’s project, was behind schedule and over budget. Mr. Iger pushed out Mr. Staggs in April 2016.

Mr. Chapek was back in the running.

He had started at Disney in 1993 in the VHS tape department, eventually rising to oversee all movie distribution. In 2011, he took over Disney’s consumer products division, which soon became flush with “Frozen” merchandise sales. By 2015, Mr. Chapek had been promoted to run theme parks, overseeing at least $24 billion in capital investments , including new “Star Wars,” “Avengers” and “Toy Story” rides.

Mr. Chapek was the consummate company man, loyal to Mr. Iger to the point of obsequiousness. Alone among Disney senior managers, he routinely called Mr. Iger “Boss” rather than “Bob,” which Mr. Iger found endearing.

At the same time, Mr. Chapek lacked Mr. Iger’s charisma and wasn’t a natural communicator; even Mr. Chapek acknowledged that he had low “E.Q.,” or emotional intelligence. Mr. Iger urged him to work on his bedside manner.

Mr. Iger told Mr. Chapek to schedule a series of one-on-one meetings with Disney’s directors to build a rapport and lay out his vision for the company’s future. But in late 2017, Disney reached a deal to buy the entertainment assets of 21st Century Fox. Mr. Iger received a big bonus for consummating the deal — stock awards of up to $142 million at the then-current share price — and the board extended his contract for a sixth time . He would now retire at the end of 2021.

Mr. Chapek canceled his plans to meet directors.

Is There Life After Disney?

A Disney chief executive is an instant celebrity. He (they’ve all been men) presides over what are perceived as some of the most powerful and glamorous businesses in the world: the Marvel, Disney, Pixar, Lucasfilm and 20th Century movie studios; the ABC broadcast network and news division; cable channels like ESPN, FX and National Geographic. Its 12 theme parks attracted a combined 142 million visitors in 2023. And even by chief executive standards, the pay is enormous. Forbes estimates Mr. Iger’s net worth at over $700 million.

With a yacht, corporate jet, power and influence, Mr. Iger and his wife, Willow Bay, a former television anchor and the current dean of the University of Southern California’s journalism school, hobnobbed with a rarefied crowd: Barack and Michelle Obama, Jeff Bezos, Steven Spielberg, David Geffen and Oprah Winfrey, to name just a few.

Once in the job, Mr. Iger wondered, as did Mr. Eisner before him: If stripped of his power and multimillion-dollar compensation at Disney, would his allure diminish? For several years, the license plate holder on Mr. Iger’s silver Porsche posed the question, “Is there life after Disney?”

There were aspects of the job that Mr. Iger didn’t especially enjoy, like earnings presentations and being grilled by Wall Street analysts. He had grown tired of budget meetings.

He often complained to Mr. Chapek (and board members) about his compensation. It was a frequent source of tension between him and Susan Arnold, who sat on the compensation committee for many years. Mr. Iger pointed repeatedly to Leslie Moonves, the chief executive of CBS, who was paid more than him even though CBS was much smaller and less complex. In 2017, Mr. Moonves made $69.3 million , Mr. Iger $36.3 million, barely half that. One Disney director called it “Moonves envy.” In 2018, shareholders rejected Mr. Iger’s compensation in a nonbinding vote; Disney won approval in 2019 only after Mr. Iger agreed to a smaller package .

Mr. Iger also pondered a conversation he’d had with Steve Jobs shortly before the Apple co-founder died in 2011. Mr. Jobs had urged Mr. Iger not to stay so long at Disney that he ended up depriving himself of some of the great things life had to offer.

When the company’s board met in December 2019, Mr. Iger broached the idea of stepping back — but not leaving entirely. “Why don’t we accelerate the process?” Mr. Iger suggested. Mr. Chapek was his choice to succeed him. Mr. Iger told the board that Mr. Chapek knew the brand well, respected it and would do no harm. He also said Mr. Chapek had great integrity.

One of Disney’s directors, Mark Parker, had recently decided to step down as chief executive of Nike and become executive chairman. Mr. Iger pitched doing the same thing. That model would allow him to stay at Disney for the remainder of his contract doing what he liked best, overseeing the company’s creative endeavors. Mr. Chapek would become the C.E.O. and handle everything else. A crucial element was that all the division leaders would report to Mr. Chapek, but Mr. Chapek would report to Mr. Iger, leaving Mr. Iger ultimately in charge. There was an obvious financial incentive as well: Mr. Iger still had more than $100 million in unvested stock options and his leadership could help protect its value.

Safra Catz, the chief executive of Oracle and a Disney board member, pushed back. Why make Mr. Chapek chief executive rather than chief operating officer?

Mr. Iger said he didn’t want a rerun of the situation with Mr. Staggs, in which people thought Mr. Staggs was merely auditioning for the top job and they could outmaneuver him by going to Mr. Iger.

But in a rare show of resistance, the board was unpersuaded. It agreed to consider the issue over the holidays.

By the time board members met in late January 2020, in Los Angeles, they had come around. Mr. Iger told Mr. Chapek the good news immediately afterward, saying an announcement would be made in just three weeks on Feb. 25.

Why the rush? Zenia Mucha , Disney’s chief communications officer and a close adviser to Mr. Iger, counseled delay; she disagreed with the entire plan, including the selection of Mr. Chapek. But Mr. Iger was adamant.

By mid-February, the coronavirus was spreading widely, and the pressure it could put on the company was becoming clear. Mr. Iger had received a detailed briefing in New York from the ABC News team covering the story. Disney’s theme parks in Shanghai and Hong Kong had already closed.

David Jefferson, a Disney spokesman, said the pandemic had nothing to do with the timing of the leadership change. Board members agree but, when pressed, offer no explanation for the haste other than that was what Mr. Iger wanted.

‘Don’t Step on His Toes’

When Mr. Chapek shared the good news of his promotion with his wife, Cindy, she was skeptical. “We’ve heard that before,” she told him. But the board’s lead independent director, Ms. Arnold, flew from her home in Oregon to meet with Mr. Chapek in the Rotunda, as Disney’s executive dining room is known. There, she confirmed that he was the board’s unanimous choice to succeed Mr. Iger as C.E.O. “This is happening,” Ms. Arnold assured him.

Mr. Chapek was told there was no time for him to meet with other directors. While they had met with Mr. Chapek in his previous roles, the idea that there was no time or no need to interview him to assess his capacity to serve as chief executive, not to mention explore his vision for the future of a company in the midst of profound change, seems inexplicable.

Ms. Arnold recognized that the unusual arrangement, in which Mr. Iger would be staying on as executive chairman and chief creative officer, posed a potential for conflict. She urged Mr. Chapek to show him deference. “Give him a wide berth” on creative matters, she advised. “Don’t step on his toes.”

Notably, Mr. Chapek would not be joining Disney’s board, which was unusual, given that nearly all chief executives also serve as board members, in many instances as chair. But the board wanted a probation period for Mr. Chapek, and wanted to emphasize that he would be reporting to Mr. Iger. It would be awkward if Mr. Chapek were also a member of the board responsible for Mr. Iger’s oversight.

In the days before the announcement Mr. Iger told just a handful of top executives, among them Christine McCarthy, the chief financial officer. Like almost everyone who learned the news, she was taken aback. While pledging to help Mr. Chapek succeed, she pointed out some of his weaknesses: He knew next to nothing about the television business, he didn’t know anything about sports programming, he didn’t have many relationships with Hollywood talent, he hadn’t dealt with Wall Street.

Mr. Iger agreed that Mr. Chapek didn’t come across as especially creative. But Mr. Iger had faced the same criticism when he was named president of ABC Entertainment in 1989.

“I think he can do it,” Mr. Iger insisted. “And I’ll still be around.”

A Last-Minute Hitch

On Feb. 24, the eve of Mr. Chapek’s announcement, the succession plan nearly fell apart.

Alan Braverman, Disney’s long-serving general counsel, called Mr. Iger to say that under the company’s bylaws, the chief executive had to report to the board — not to Mr. Iger. For Mr. Iger, that was a nonstarter. He wanted to retain ultimate control.

It was Mr. Braverman and Ms. Mucha who came up with a hastily conceived compromise: Mr. Chapek would report to both the board and Mr. Iger.

That was OK with Mr. Iger since, from his perspective, Mr. Chapek still reported to him. Mr. Iger insisted that the announcement be made the next morning as scheduled — even though board members hadn’t discussed as a group, let alone approved, the new dual reporting arrangement.

No one told Mr. Chapek about the change to the reporting structure. But Mr. Chapek wasn’t very concerned about it, because Mr. Iger had always been such a strong supporter of his.

In another sign that Mr. Iger intended to maintain a visible presence, he decided to stay in the office that both he and Mr. Eisner had occupied as chief executives. Mr. Chapek was relegated to smaller quarters nearby. The arrangement only added to internal confusion about Mr. Chapek’s new status.

Some board members weren’t thrilled with the office decision or the dual reporting change. But, as it had in so many instances, the board went along with what Mr. Iger wanted.

Mr. Chapek and Mr. Iger faced the cameras as planned the next day. The company’s announcement said the change was “effective immediately.”

The sudden move shocked and baffled Hollywood. Paul McCartney, a close friend of Mr. Iger’s, called him to ask if he was sick.

Iger’s ‘Lap Dog’

About two weeks later, on March 11, Mr. Chapek was scheduled to make his formal debut as chief executive at Disney’s annual shareholder meeting. Mr. Chapek was nervous, all the more so because public speaking had never been his strength.

Before the meeting, Disney’s investor relations personnel assembled thick briefing binders covering every conceivable data point and question that might arise. Armed with these binders, Mr. Iger and Mr. Chapek settled into the front compartment of the Disney Gulfstream jet for the four-and-a-half-hour flight to Raleigh, N.C., the site of that year’s meeting, for what Mr. Chapek expected would be an extended preparation session.

Several passengers, including Mr. Chapek, recalled that Mr. Iger pulled out his iPad and started flipping through recent photographs, telling the stories behind them. There were photos of himself with Mr. McCartney and recent dinner guests in New York. Mr. Chapek said he tried to steer the discussion back to the annual meeting, but Mr. Iger interrupted: “Did you see my new yacht design?”

Flustered by Mr. Iger’s digressions, Mr. Chapek got up and moved to the plane’s rear compartment.

(Others on the flight said Mr. Chapek immediately went to the back of the plane and didn’t recall his having any iPad chitchat with Mr. Iger.)

Mr. Chapek’s extended absence was noted in the front cabin. “Does Bob want to get briefed or not?” Mr. Iger asked his fellow passengers, Ms. McCarthy, Ms. Mucha and Mr. Braverman. Finally, Mr. Iger stood up and went to find Mr. Chapek.

“Bob, do you want to sit with us so we can brief you?” Mr. Iger asked.

“Isn’t it all in here?” Mr. Chapek replied, holding up the binder. Mr. Iger said the book couldn’t convey the nuances. But Mr. Chapek said he’d review the book and let him know if he had any questions. He went back to his reading.

“He doesn’t want to be prepped. He says the book is enough,” an incredulous Mr. Iger told his fellow passengers when he returned to the front compartment. Mr. Iger suddenly felt as if he were at the wedding altar with the bride walking down the aisle. He realized he’d made a terrible mistake. But it was too late.

On the way back to California, Gov. Gavin Newsom called Mr. Iger before announcing that he would restrict public gatherings in California because of Covid. But he thought Disneyland might stay open. The governor didn’t want people to panic — and he feared they might if Disneyland closed.

Mr. Iger argued to Mr. Newsom that keeping the theme park open was a bad idea, given the health risks to both guests and employees. Mr. Newsom later publicly praised Mr. Iger’s advice and cooperation.

Mr. Chapek didn’t disagree with the decision to close the parks, but he was furious that Mr. Iger had excluded him. The decision had nothing to do with Mr. Iger’s creative mandate.

Disney’s executives worried about the shock that the park closures would have on the company’s cash flow. Ms. McCarthy and Mr. Chapek made the decision to quickly furlough, albeit with health benefits, more than 90,000 employees at the theme parks.

But Mr. Iger overruled them. He decided to wait until the government passed a Covid relief bill.

Two months earlier, when Mr. Chapek and Mr. Iger had appeared together on CNBC, Mr. Iger brushed aside a question about the potential for confusion over who was in charge. “Bob is going to be running the company,” Mr. Iger said. But now it seemed to Mr. Chapek that Mr. Iger was acting as though nothing had changed — Mr. Iger was still chief executive in all but name.

Mr. Chapek’s wife told him he was little more than Mr. Iger’s “lap dog.”

‘He’s Killing Me’

However marginalized Mr. Chapek felt, the two maintained at least a facade of cooperation. Because of Covid, no one went into the office, but Mr. Chapek spoke to Mr. Iger weekly by phone and sometimes went to see him at his home in Brentwood, an upscale Los Angeles neighborhood where they took walks wearing masks. Mr. Iger never went to see Mr. Chapek at his home in Westlake Village, a far-flung suburb. (A spokesman for Mr. Iger said he had never been invited.)

At Mr. Chapek’s request, the two held a series of employee town-hall meetings, where Mr. Iger was supposed to reinforce the message that Mr. Chapek was now in charge. “My goal is for Bob to be successful, and to the extent that I can help him do that, I will,” Mr. Iger said at the first town hall they held in February 2020. “I think it’s got to be a balance between giving him the freedom to make the decisions and do things the way he wants to do them because, you know, they will feel right to him. On the other hand, I’ve got a fair amount of experience doing a lot of these things. And, you know, it’s not quite about throwing him into a swimming pool when he’s never swum. So it’ll be a balance.”

But nearly everything Mr. Chapek did (or didn’t) do reinforced Mr. Iger’s sense that naming Mr. Chapek as his successor had been a huge mistake. Mr. Iger expressed his frustration with friends in Hollywood. Word spread, and someone contacted The New York Times’s media columnist at the time, Ben Smith, to say Mr. Iger was reasserting control. Mr. Smith called and spoke to Mr. Iger, too, who followed up with an email.

On Sunday, April 12, Mr. Chapek hosted a belated late-afternoon party for family and friends at his home to celebrate his promotion. A friend emailed him Mr. Smith’s column, which had just appeared online. Mr. Chapek stepped out of the party and read it.

“After a few weeks of letting Mr. Chapek take charge, Mr. Iger smoothly reasserted control,” Mr. Smith wrote . Mr. Chapek read with mounting disbelief.

Mr. Smith called Mr. Chapek “the new, nominal chief executive” and even speculated that the choice of Mr. Iger’s successor “may be open again.”

Mr. Smith quoted Mr. Iger as saying in an email that “a crisis of this magnitude, and its impact on Disney, would necessarily result in my actively helping Bob [Chapek] and the company contend with it, particularly since I ran the company for 15 years!”

Mr. Chapek immediately called Ms. Mucha, the communications executive. “What the hell is this?” he demanded. Trying to calm him, she argued the column wasn’t that bad.

“He’s killing me,” Mr. Chapek responded.

Mr. Chapek didn’t sleep that night. Early the next morning, he confronted Mr. Iger on the phone.

Mr. Iger denied that he had spoken to Mr. Smith, which only further enraged Mr. Chapek, who pointed out that Mr. Iger’s quote came directly from an email. Mr. Iger said he didn’t understand why Mr. Chapek was so upset. What was wrong with saying he was reasserting control in the midst of a crisis?

“You’ve cut my legs out from under me,” Mr. Chapek said. “I’ve never felt worse in my life.”

The conversation became heated, and both men raised their voices.

Mr. Iger told several people immediately afterward that he’d never been treated with more disrespect by anyone in his entire life.

As far as Mr. Iger was concerned, his relationship with Mr. Chapek was over.

‘This Too Shall Pass’

Starting at 6 a.m. on Monday, Jayne Parker, Disney’s chief human resources officer, called Disney directors to alert them to Mr. Chapek’s fury. She got one out of bed to take the call.

An enraged Mr. Chapek got on the phone with Ms. Arnold, the board’s lead independent director. This was the first time he’d broached the feud with a director. He hadn’t wanted to call attention to something that seemed petty compared with a global pandemic, but he felt this could no longer be ignored.

Mr. Chapek, who deemed some other board members fiercely loyal to Mr. Iger, felt he’d developed a good rapport with Ms. Arnold, who had spent most of her career in the Midwest at Procter & Gamble, eventually becoming its first woman president. Mr. Chapek, the son of a machinist from Hammond, Ind., had gotten his start in packaged goods, working in the pet-food division at Heinz and helping to market Kraft cheese.

Ms. Arnold also knew something about corporate succession: She’d been a leading candidate to become Procter & Gamble’s chief executive but took herself out of the running and left the company in 2009, partly because, as a prominent gay executive, she didn’t want her personal life to be publicly scrutinized, something that would most likely accompany the job.

Ms. Arnold was taken aback by the vehemence of Mr. Chapek’s reaction to the column. She thought he seemed paranoid that Mr. Iger was out to destroy him. She urged him to calm down and defer to Mr. Iger, as she had advised before.

“What will be left of my reputation?” Mr. Chapek pleaded.

“This too shall pass,” she responded. Mr. Iger would be gone in 20 months, and the C.E.O. prize would be Mr. Chapek’s alone.

Mr. Chapek all but begged to be named to the board as a show of confidence in him. Ms. Arnold conferred with several other directors. None was aware of the depth of the hostility that had developed between Mr. Iger and his designated successor. But they agreed it could damage his standing. The board now felt it had no choice but to name Mr. Chapek a director as a show of support.

Ms. Arnold called Mr. Iger and chastised him for the column. She told him it was the worst thing that could have happened to Mr. Chapek. She pointed out that, had Mr. Iger taken the board’s suggestion to initially name Mr. Chapek chief operating officer rather than chief executive, none of this would be happening. In any event, the sniping had to stop.

Mr. Iger was taken aback by both the tone and substance of Ms. Arnold’s call. She seemed to be siding with Mr. Chapek — even though he had been C.E.O. for less than two months and Mr. Iger was still ultimately in charge. She and other board members should be happy he was stepping back up during a crisis, Mr. Iger thought, especially when Mr. Chapek’s leadership had been so lackluster.

On April 15, three days after Mr. Smith’s column published, Mr. Chapek was named to Disney’s board .

In June, the board scheduled private sessions by video call with both men to address the conflict. Mr. Iger went first. He aired his complaints about Mr. Chapek’s leadership, including that he hadn’t sought Mr. Iger’s advice and counsel. Mr. Chapek had no standing in the creative community and hadn’t made any efforts to improve it. He’d skipped creative meetings that Mr. Iger had invited him to.

Mr. Chapek said he was sorry their differences had become a board issue. But he was incensed when Mr. Parker, the board member who had led Nike, questioned Mr. Chapek’s lack of contacts in the Hollywood creative community, since that was supposed to be Mr. Iger’s jurisdiction. He insisted that he hadn’t skipped meetings but rather that Mr. Iger had scheduled them without telling him. Mr. Chapek said Mr. Iger had ceded little authority, something Mr. Chapek said he had accepted without complaining. “I was just trying to be a good soldier,” Mr. Chapek said.

The board’s message to both men: The company was in crisis, and they needed to start acting like adults and work together.

Later, in an audit committee board session with Ms. McCarthy, Ms. Catz, the board member who had questioned Mr. Chapek’s readiness, asked if she thought Mr. Chapek was up to the job. Ms. McCarthy, the chief financial officer, didn’t immediately answer.

“I don’t like the fact that you’re hesitating,” Ms. Catz said.

“I’m giving you a qualified answer,” Ms. McCarthy said. “If he will start to listen. If he will listen. We’re all trying to help him, but he doesn’t listen.”

In the ensuing months, Mr. Iger seemed increasingly cranky about the board’s reaction to Mr. Smith’s column. “Why are you so hostile toward the board?” Mr. Chapek finally asked during one of their calls, which had continued despite the tensions.

Mr. Iger told him that he couldn’t handle the truth, and then proceeded to say that before the board had agreed to name Mr. Chapek chief executive, the directors had assured Mr. Iger that, if he didn’t think it was working out, he could fire Mr. Chapek and return as chief executive anytime he wanted. (Given the dual reporting structure, it is unclear whether Mr. Iger had that authority.)

Ellen Davis, a spokeswoman for Mr. Chapek, confirmed that account. She said Mr. Chapek “was shocked and surprised when told by Mr. Iger that he believed he could have his job back if and when he wanted it.”

Immediately after the call, Mr. Chapek called Ms. Arnold. “What is he talking about?” he asked.

Ms. Arnold tried to make light of it. “Well, you know Bob,” Ms. Arnold answered. “He may think so, but just let it go.”

It wasn’t the answer Mr. Chapek was hoping for.

Mr. Jefferson, the Disney spokesman, said there was never any such understanding between Mr. Iger and the board. The claim that he could return at will was “not something Mr. Iger would have said,” Mr. Jefferson added.

For Mr. Chapek, it was a turning point. It wasn’t just paranoia: He was now convinced that Mr. Iger was trying to get rid of him and return as chief executive, and that the board might let him.

‘This Is His Company to Run’

As Covid shutdowns continued into the fall of 2020, it wasn’t just Disney’s theme parks that bore the brunt. Disney’s movie and television production had ground to a halt, just as consumers were staying home and turning to streaming services. Wall Street had been obsessed with subscriber gains, and Disney+ had delivered, surpassing 70 million, hitting its initial five-year goal after only nine months of operation. But it needed new content, which had all but dried up. Subscriber growth was slowing.

Mr. Chapek pleaded with his studio heads — Pete Docter of Pixar, Kevin Feige of Marvel, Jennifer Lee of Disney Animation — and encountered resistance: All of them wanted to hold back their best material for debuts in theaters with star-studded premieres. Mr. Chapek had no idea when, if ever, those days would return. In the meantime, Disney needed cash flow to meet interest payments on the enormous debt it had racked up under Mr. Iger to buy most of 21st Century Fox.

One of Mr. Chapek’s perceived strengths was corporate organization. He proposed remaking the company around a new division, Disney Media and Entertainment Distribution, to give priority to streaming services ( Disney+ , Hulu and ESPN+) and to guarantee they received a steady flow of Disney’s best content. DMED, as it became known, would now have bottom-line responsibility for all the company’s entertainment, and would decide where films and programs would appear — in theaters, on television or, as was increasingly likely, on Disney+. It would be Mr. Chapek’s signature initiative as chief executive.

There was logic to Mr. Chapek’s plan. But its seemingly benign, business-school rationale belied a reality: To strip Disney’s creative heads of authority over spending, as well as where their movies and shows would be distributed, would be a huge loss of power and status. Moreover, Hollywood talent wanted guarantees of where projects would end up before committing to a deal. Although the division heads would still report to Mr. Chapek (and indirectly to Mr. Iger), it was a huge demotion. In many ways, their new boss would really be the head of DMED.

For that role, Mr. Chapek approached Alan Bergman, then the chairman of Walt Disney Studios, a figure both well known in Hollywood and respected by Disney’s creative teams. Mr. Bergman said he’d think about it and called Mr. Iger to ask what he should do. Mr. Iger said he should tell Mr. Chapek what he really thought, which was that DMED was a terrible idea. Mr. Bergman turned down the offer.

Exasperated, Mr. Chapek turned to a loyal former lieutenant at consumer products, Kareem Daniel . A 13-year Disney veteran, Mr. Daniel was nonetheless barely known outside the company and had little experience with movies or television. Overnight, he would be running a division with more than $50 billion in annual revenue and would be in the spotlight as Disney’s highest-ranking Black executive. Like Mr. Bergman, Mr. Daniel had his doubts about the wisdom of the proposed restructuring.

Mr. Chapek spent hours, both on the phone and in person at Mr. Iger’s house, selling Mr. Iger on the idea. Mr. Iger was unenthusiastic but didn’t object.

By early October, after a two-hour meeting at Mr. Iger’s house, Mr. Chapek thought he’d gotten Mr. Iger’s blessing. He was in his car heading back to Westlake Village when Mr. Bergman called him. “Iger just told me we’re not doing the reorganization,” Mr. Bergman said, according to Mr. Chapek. “He said he hates it.”

Mr. Chapek was dumbfounded. He’d left Mr. Iger just 10 minutes earlier. “No, it’s on. We’re doing it,” Mr. Chapek replied.

Mr. Chapek said he immediately called Mr. Iger, and asked if he’d said that to Mr. Bergman. “Yes, I hate it,” Mr. Iger confirmed.

“Why didn’t you say that to me?” Mr. Chapek asked.

Mr. Iger didn’t answer.

A more seasoned chief executive might well have paused at this juncture, given the lack of internal support. At least a dozen senior Disney executives had told Mr. Chapek that the reorganization was a bad idea. But the Disney board gave Mr. Chapek its strong backing for the creation of Disney Media and Entertainment Distribution after extended discussions in which Mr. Iger raised questions but said nothing to oppose it. Mr. Iger was on such thin ice with the board at that time that there was little he could say without appearing to undermine Mr. Chapek. “This is his company to run,” Mr. Iger said to directors at one point. The reorganization, and Mr. Daniel’s promotion, were announced on Oct. 12, 2020.

Mr. Chapek had finally accomplished something, and he was proud of it. As he later told a reporter at The Times, “It was singularly the best thing I could have done to transform this culture.”

In June 2021, the board gathered at Aulani, a Disney resort in Hawaii, for its first in-person meeting since the pandemic. Few companies had been as hard hit as Disney . For a time, revenue from its theme parks and movies had all but been wiped out. But it was on a rebound. Disney World had reopened . Disney+ subscriber growth had pushed Disney’s stock to near a record high.

Mr. Iger opened the board retreat with a paean to creativity, “the essence of who we are as a company.” He warned that data and algorithms would never supplant creativity and that “not everyone is born with the ability to be wildly creative, and not everyone is born with the ability to manage wildly creative, or sometimes wild and creative, people.” He didn’t mention any names, but directors said they knew whom he was talking about.

Mr. Iger asked Ms. Arnold if she wanted to run the executive session along with him, but she told him to leave and asked Mr. Chapek to stay. Mr. Iger was taken aback, but took a seat outside the room, expecting to be called back after Mr. Chapek finished.

“We know it’s been hard,” Ms. Arnold told Mr. Chapek once Mr. Iger was out of the room. She complimented the stock price and his operational leadership during the pandemic. Directors nodded in agreement.

When the session with Mr. Chapek ended, the meeting adjourned and directors left the room. No one thought to tell Mr. Iger, who was left outside to fume.

For the first time since his promotion to chief executive, Mr. Chapek let himself think that Mr. Iger had been vanquished.

But trouble soon arose.

That summer, Disney was locked in negotiations over the release of “Black Widow,” Marvel’s big new superhero film, with its star, Scarlett Johansson. Now that DMED was up and running, Mr. Chapek wanted to see a return on the $350 million cost of the movie.

On July 9, a few days into the annual gathering of media moguls in Sun Valley, Idaho, Disney released “Black Widow” in theaters and on Disney+, even though Ms. Johansson’s contract called for an exclusive theatrical release and her pay was pegged to the theatrical box office. Releasing it on Disney+ would obviously cut into ticket sales, costing her as much as $50 million, her agent contended. “She’s not happy,” her agent told Mr. Chapek when he ran into him at the conference. This was exactly the kind of problem Mr. Bergman had warned about when DMED was created.

“Black Widow” took in $80 million at the domestic box office during its first three days, sharply less than previous Marvel films had. A few weeks later, when Ms. Johansson sued Disney , the company took a hard line. In a statement approved by Mr. Iger, Disney called the suit “especially sad and distressing,” accused Ms. Johansson of a “callous disregard” for the impact of Covid on theatergoers and said she’d already been paid $20 million. Talent relations fell under Mr. Iger’s purview as creative head, but Mr. Chapek also contributed to the contents of the statement and signed off on it.

“Attacking Johansson so personally was a pretty spectacular unforced error,” wrote Kim Masters in The Hollywood Reporter. “And many observers are laying that at the feet of C.E.O. Bob Chapek. The person who isn’t getting the blame? Outgoing chairman Bob Iger.”

Mr. Chapek was stunned that he — and not Mr. Iger — was blamed for the debacle.

‘Fasten Your Seatbelts’

That fall, as his end-of-year retirement date approached, Mr. Iger said he didn’t want a farewell ceremony or party at Disney. The thought of Mr. Chapek hosting such an event was too galling. Instead, he and his wife decided to host their own party at their home in Brentwood. Mr. Iger chose a date when he knew Mr. Chapek would be in Orlando, Fla., for an event.

Mr. Chapek canceled the trip.

On Nov. 19, he arrived for the party at the same time as Thomas Schumacher, the longtime president of Disney’s Broadway division. Ms. Bay, Mr. Iger’s wife, was outside greeting guests as they arrived. “Tom Schumacher, it’s been too long,” she gushed. “I can’t believe you came all this way.” She embraced Mr. Schumacher. Mr. Chapek stood awkwardly by until she finally turned to him. “Hi, Bob. I see you all the time,” she said. She turned back to Mr. Schumacher.

A guest who witnessed the exchange recalled Bette Davis’s memorable line in “All About Eve”: “Fasten your seatbelts. It’s going to be a bumpy night.”

About 80 guests were seated at three long tables outdoors behind the house. Mr. Iger was flanked by Mr. Spielberg and Ms. Lee of Disney Animation. Mr. Chapek was in the middle of the table farthest from Mr. Iger’s.

Mr. Iger began a speech recognizing people who’d helped and inspired him. In one of his first jobs at ABC, Mr. Iger had worked as an assistant to the acclaimed sportscaster Al Michaels, who was at the party. Mr. Iger mentioned that back in the day he and Mr. Michaels had covered dirt-track racing in Terre Haute, Ind., for “Wide World of Sports.” Mr. Iger looked toward Mr. Chapek and went off script: “That’s your area, isn’t it Bob?” he asked, referring to Terre Haute, in rural southwestern Indiana. “You’d know all about dirt tracks.”

Mr. Chapek’s hometown of Hammond is near Chicago. He seethed at what he felt was a put-down.

Mr. Iger pushed on, worked his way through his career thanking people and then paused when he reached the present. “I think I’ll just stop there,” he said. “Thank you all for coming.” There was no praise, and no further mention, of Mr. Chapek.

Mr. Chapek reddened as he felt every gaze turn on him. He stood up and stalked out.

‘It’s Going to Get Worse’

On Nov. 30, in ABC’s old board room at Disney’s West 66th Street offices in New York City, Mr. Iger presided over his last meeting as chairman. He’d given considerable thought to what he’d say, discussing it with his wife and making detailed notes. He could have reflected on his accomplishments and made a graceful exit, something that he’d considered and that some board members expected.

But he didn’t.

During an executive session without Mr. Chapek, Mr. Iger began by apologizing for not having had more interaction with board members since the meeting in Hawaii. Then he said, “There are things that I feel I must leave you with, that you must know because there are things that you need to watch.” He then unleashed a broadside.

Mr. Iger asserted that under Mr. Chapek, the collegial culture he’d built over 15 years was crumbling. Disney was a company that depended first and foremost on creativity, and Mr. Chapek’s DMED reorganization had damaged Disney’s creative engines. The company, he said, had become distracted by a deep rift — Mr. Chapek and his allies on one side, Disney’s creative executives and the Hollywood talent community on the other.

Mr. Iger didn’t go so far as to say the board should fire Mr. Chapek. Nor did he ask to replace him as chief executive or to remain as chairman.

Afterward, Mr. Iger seemed unusually subdued at the board’s farewell lunch for him. They showed a video tribute. Mr. Parker gave him a pair of custom Nike sneakers. Mr. Chapek gave him two gold coins embossed with Mickey Mouse to be placed under the mast of his new yacht, a good-luck custom to ward off pirates.

Mr. Chapek felt a chill. “It’s going to get worse,” Mr. Chapek told Ms. Arnold after lunch. He worried that, once he was gone, Mr. Iger would feel more emboldened to criticize Mr. Chapek.

In conversations with allies at the company, he started referring to Mr. Iger as an “assassin.”

A Mea Culpa

During Mr. Iger’s tenure, the studio had greenlighted a bevy of projects with progressive social and political themes. But Mr. Chapek worried the development slate had veered too far left on social issues. Disney was being pulled into partisan political debates more frequently, a worrisome situation for a brand that was supposed to stand for everyone.

Some board members agreed. Coming up through the pipeline was “Strange World,” Disney’s first animated film focusing on an openly gay teenager. Ms. Catz, a board member, was so opposed to the character that she told Mr. Chapek she’d have him fired if Disney released the film. He reported the threat to Ms. Arnold.

The film was too far along for Mr. Chapek to block it, but his fears about Disney’s becoming a cultural flashpoint soon materialized. In January 2022, the Parental Rights in Education bill was introduced in Florida. Opponents labeled the bill “Don’t Say Gay” because it prohibited classroom discussion of sexual orientation and gender identity for young students. The Human Rights Campaign, a prominent L.G.B.T.Q. advocacy organization, soon had more than 100 corporate signatories to a letter opposing anti-gay legislation in various statehouses. Media companies like Comcast, which owns NBCUniversal, had signed on. But Disney, one of the largest employers in Florida, was conspicuously absent.

Mr. Chapek realized that staying silent might cause controversy. He called Ms. Arnold, who had succeeded Mr. Iger as chairman, to discuss his view that Disney had become too politicized. He mentioned the Florida bill and the pressure on Disney to publicly condemn it.

Ms. Arnold agreed that Disney should stay above the fray. But she said the company should sign the Human Rights Campaign letter. Since so many companies had already signed — including Nike, General Motors and Oracle, whose chief executives sat on Disney’s board — she didn’t envision Disney’s being singled out for criticism: There was safety in numbers. Mr. Chapek agreed.

On Feb. 1, at the board’s first meeting with Mr. Iger no longer at the company, Geoff Morrell, the new chief corporate affairs officer, gave a presentation arguing that Disney should stay out of divisive social and political issues, especially at the state and local levels, unless necessary. Disney should fight “the wars not the battles,” he said. He also said Disney’s employees, accustomed to Mr. Iger making public comments supporting progressive positions, would need to be “reconditioned.” The board agreed.

The Florida legislation soon vaulted to national attention. On Feb. 8, President Biden issued a statement on Twitter: “I want every member of the LGBTQI+ community — especially the kids who will be impacted by this hateful bill — to know that you are loved and accepted just as you are.”

Disney remained silent and soon faced an internal revolt. Creative employees — many of them gay or staunchly supportive of gay colleagues and friends — were still seething over the DMED reorganization. And now this?

On Feb. 24, Mr. Iger put a match to kindling by reposting Mr. Biden’s comment and adding : “I’m with the President on this! If passed, this bill will put vulnerable, young LGBTQ people in jeopardy.”

A few days later, a Disney L.G.B.T.Q. employee group sent a letter to Mr. Chapek and other high-ranking executives demanding that Disney oppose the bill and denounce similar legislation pending in other states. Mr. Chapek met with the group the next week, describing the discussion as “meaningful, illuminating and at times deeply moving.”

In the midst of this, Disney’s board held an emergency meeting to discuss the mounting controversy. Mr. Chapek told the board that, in keeping with the company’s new policy, Disney had not signed the Human Rights Campaign petition. Ms. Arnold was taken aback. “I’m confused,” she said. “You told me Disney was going to sign it.”

The discussion moved on, but Ms. Arnold was visibly upset. Mr. Chapek sent her a text: “My bad. We decided not to sign. I got busy and forgot to tell you.”

Ms. Arnold was furious.

Despite the pressure from employees, Disney’s board agreed to stay the course. Mr. Chapek and his corporate affairs team drafted a statement defending Disney’s decision not to comment, which was circulated to Ms. Arnold and the rest of the board: “Corporate statements do very little to change outcomes or minds. Instead, they are often weaponized by one side or the other to further divide and inflame.”

The memo, distributed to employees and the news media on March 7, backfired in spectacular fashion. Letters and calls from prominent people criticizing Disney’s failure to speak out poured in to Mr. Chapek. Abigail Disney, granddaughter of the co-founder Roy O. Disney, said on Twitter that she was “deeply angered.” The Los Angeles Times called Disney’s policy “corporate cowardice.”

With pressure on Disney increasing, Ms. Arnold advised Mr. Chapek to reverse course and condemn the bill. “You’re losing the creative community,” she warned him. “You have to stand with your team.”

On March 9, Ms. Arnold’s first shareholder meeting as chair, Mr. Chapek extolled the company’s recent accomplishments in a taped video, then delivered a mea culpa . “I understand our political approach, no matter how well-intentioned, didn’t quite get the job done,” he said. He announced that Disney would sign the letter and give $5 million to the organization. The Human Rights Campaign promptly said it would take the money only after Disney demonstrated it was following through on its promises.

Two days later, Mr. Chapek went even further in another memo to employees: “You needed me to be a stronger ally in the fight for equal rights, and I let you down. I am sorry.” Taking direct aim at Gov. Ron DeSantis of Florida, he also halted political contributions in the state.

There were those at Disney, including Ms. Arnold, who thought Mr. Chapek had now gone too far in the other direction. The about-face and abject apology did little to assuage Disney’s outraged L.G.B.T.Q. community. And it gave Florida’s governor a national platform to mock the company as “Woke Disney.” “If Disney wants to pick a fight, they chose the wrong guy,” Mr. DeSantis said. Florida moved to revoke Disney World’s special tax status and Disney and the state were soon battling it out in court .

Mr. Chapek thought it unfair that he was being blamed for a policy that had been endorsed by the board at every step. And he saw Mr. Iger’s “assassin” fingerprints all over the ensuing firestorm, starting with his tweet. His suspicions only hardened on March 31, when Mr. Iger appeared on CNN . Mr. Iger never mentioned Mr. Chapek by name, but he didn’t need to. “To me, it wasn’t about politics,” Mr. Iger said on the air. “It is about what is right and what is wrong, and that just seemed wrong.”

As the bad press continued, Mr. Chapek insisted that his contract as chief executive, set to expire on Feb. 28, 2023, be extended as a show of board support. Terms for a new three-year contract were agreed to by late March. But Ms. Arnold declined to make the agreement public, saying the time wasn’t right given the furor over the Florida legislation.

She was also trying to buy time. The board was having its first serious discussions about whether Mr. Chapek had been the wrong choice for the job. Two directors, Mr. Parker and Mary Barra, GM’s chief executive, were especially critical of Mr. Chapek. The board discussed the possibility that Mr. Parker of Nike could step in to replace Mr. Chapek on an interim basis while it conducted a search, but he declined. In side discussions, a couple directors explored the idea of an office of the chairman led by Ms. Arnold, but she shut down that suggestion, saying she was happily retired from the daily slog of corporate life. The possibility of asking Mr. Iger to come back wasn’t suggested.

Unnerving Calls

In most respects, Mr. Iger was pleasantly surprised by life after Disney. While a rumored appointment as ambassador to China or Britain never materialized, his calls were returned and restaurant reservations remained easy to come by. He spent time on his yacht, wrote a draft of a second book and acquired stakes in companies like Funko, a maker of pop culture collectibles, and Gopuff, the rapid-delivery start-up. He joined Josh Kushner’s firm Thrive Capital as a venture partner and gave more than 20 talks at corporations seeking his wisdom.

Mr. Iger insisted he’d put Disney behind him and vowed not to talk about Mr. Chapek unless others brought him up. Evidently, many did. Mr. Chapek fielded a steady drumbeat of unnerving calls from people who had met with Mr. Iger. They told Mr. Chapek that Mr. Iger had heaped criticism on him and wanted to talk about little else.

Mr. Chapek complained about Mr. Iger’s whisper campaign to Ms. Arnold and other board members, some of whom had independently heard about Mr. Iger’s trash talk. But now that Mr. Iger had officially retired, the board had no leverage on him. No board member ever reached out to him, according to Mr. Jefferson, the Disney spokesman.

Despite the board’s growing reservations about Mr. Chapek, and given the lack of any alternative, Ms. Arnold agreed to announce Mr. Chapek’s new contract, which allowed for a $20 million annual bonus, up from $15 million. On June 28, the board said: “Bob is the right leader at the right time for The Walt Disney Company, and the board has full confidence in him and his leadership team.”

‘We Have to Save Chapek’

Since becoming chief executive in 2020, Mr. Chapek’s sometimes rocky tenure had been buoyed by Disney’s strong share price. But since hitting a record high in March 2021, it had been falling, along with stocks of other entertainment companies grappling with the new economics of streaming and the decline of cable. In April 2022, Netflix reported it had lost subscribers for the first time in 10 years, panicking Wall Street. Netflix shares lost 35 percent in just one day. Seemingly overnight, investors went from caring only about subscriber numbers to focusing on earnings and losses. The streaming honeymoon was over.

By the time the board announced Mr. Chapek’s new contract, Disney shares had dropped almost 50 percent from their peak, so low that activist investors like Dan Loeb and Nelson Peltz were circling the company, seeking board seats and calling for management changes.

Mr. Peltz knew a good deal about Disney and Mr. Iger, thanks to his neighbor in Palm Beach, Isaac (“Ike”) Perlmutter, who had sold Marvel to Disney in 2009 and stayed on as Marvel’s chairman. The deal made Mr. Perlmutter one of Disney’s largest shareholders.

The irascible Mr. Perlmutter had clashed with Mr. Iger over the years. In 2015, Mr. Perlmutter tried to fire Mr. Feige, Marvel’s celebrated movie chief, amid a disagreement about budgets; Mr. Iger saved Mr. Feige and effectively demoted Mr. Perlmutter by stripping superhero movies from his oversight. In 2019, Mr. Iger further marginalized Mr. Perlmutter, taking away the television portion of his job and leaving him with only a tiny fief involving comics publishing and a few consumer products. Mr. Perlmutter had been glad to see Mr. Iger step down.

But Mr. Perlmutter had sources in the company who convinced him that Mr. Iger was plotting a return. Mr. Perlmutter warned Mr. Chapek, fanning Mr. Chapek’s own anxieties about Mr. Iger’s intentions.

With Mr. Perlmutter’s encouragement, Mr. Chapek met with Mr. Peltz in July at Disneyland Paris and the two men forged a rapport. Soon after, Mr. Perlmutter called several board members, including Ms. Catz, lobbying them to add Mr. Peltz to the board. If not, he warned, Mr. Iger “would be back at Disney,” as Disney later put it in a proxy filing.

In a call to Horacio Gutierrez, the company’s new general counsel, Mr. Perlmutter told him: “We have to save Chapek. We can’t allow Iger to come back.”

Mr. Chapek told Ms. Arnold that he thought inviting Mr. Peltz made sense. It would spare Disney a costly and distracting proxy fight. But Ms. Arnold said the board would never offer Mr. Peltz a seat, partly because of his friendship with Mr. Perlmutter. The board was wary of Mr. Perlmutter given the antagonism between him and Mr. Iger and also because of Mr. Perlmutter’s campaign against Mr. Feige, whom the board had come to view as a crucial employee.

‘I Am Telling the Truth’

To prepare for that fall’s earnings report, Mr. Chapek and Ms. McCarthy, the chief financial officer, met around Labor Day to preview the numbers. They discussed a looming shortfall between Wall Street’s forecasts and the actual results, but Mr. Chapek wasn’t especially concerned given strong streaming subscriber growth. He told Ms. McCarthy that Mr. Daniel, the DMED chief, had assured him that streaming was “killing it.”

But that changed a few weeks later when Ms. McCarthy led board members through a presentation of the expected results. The first slide disclosed that Disney’s earnings per share would be 27 cents below Wall Street’s estimates — far more than what she and Mr. Chapek previously discussed, and a result sure to shock Wall Street. Disney’s streaming business was still signing up subscribers at a fast pace. But soaring programming and marketing costs meant that streaming was now heading toward a $1.5 billion quarterly loss, up from $630 million a year earlier — just when investors had been promised there would be light at the end of the tunnel.

Board members started pelting Mr. Chapek with questions. How could the results be this bad?

Mr. Chapek felt blindsided. Ms. McCarthy had distributed projected earnings results nine days earlier to the board that prominently highlighted the 27-cent miss. But Mr. Chapek hadn’t read that board package — he had assumed the material in it reflected what he and Ms. McCarthy had discussed when they met.

Ms. McCarthy continued through the slide presentation as board members appeared to grow more agitated. About an hour into the meeting, Mr. Chapek was visibly annoyed. He stared at Ms. McCarthy, tapped his watch, then took it from his wrist and began swinging it back and forth like a pendulum, signaling Ms. McCarthy to finish up.

During the ensuing break, he confronted her.

According to Ms. McCarthy’s recollection, he accused her of upsetting the board. “I am telling the truth,” she replied. “I never lie, and I’m not starting now. The numbers are the numbers.”

Mr. Chapek said he didn’t attack her, and simply asked why she’d blindsided him. He said she didn’t offer any explanation.

The board met in executive session with Mr. Chapek, and then Ms. McCarthy. Ms. McCarthy said Mr. Chapek had attacked her during the break for being truthful. Ms. Catz again asked if Mr. Chapek was up to the job.

This time, Ms. McCarthy answered, “He can’t do it.”

Ms. Catz and others told Ms. McCarthy she had to hold the place together.

Afterward, an angry Ms. Arnold called Mr. Chapek.

“How could you attack Christine?” she demanded.

“She’d never told me the numbers!” Mr. Chapek exclaimed.

Petting a Hippo

Worried that Mr. Chapek was in denial about the gravity of the shortfall, Mr. Gutierrez, the general counsel, called for meetings during an October management retreat in Orlando. Mr. Gutierrez invited the senior leadership team, saying he wanted to ensure a common understanding of the situation and plan for what would surely be a difficult earnings call.

Mr. Chapek didn’t attend Mr. Gutierrez’s meetings. Instead, during one, Mr. Chapek greeted park visitors and petted a hippo at Disney’s Animal Kingdom resort. (Mr. Chapek’s spokeswoman said he went to every meeting he was told about, adding that the hippo encounter was part of an effort, encouraged by the board, to come across as more personable.)

Pressed by Mr. Gutierrez that a crisis was looming, Mr. Chapek offered him a meeting at 6:30 a.m. on Friday. Mr. Gutierrez declined, saying that several participants were scheduled to leave Orlando that morning.

The week before the earnings call, Kristina Schake, who had replaced Mr. Morrell as communications chief, tried to warn Mr. Chapek that the quarterly results would prompt a cascade of negative news articles. He chided her as an “Eeyore,” a reference to the gloomy donkey from the Winnie-the-Pooh franchise.

Mr. Chapek unveiled the earnings as scheduled on Nov. 8. They fell short of estimates by 26 cents a share, only a penny better than the forecast. In his upbeat presentation to analysts, Mr. Chapek avoided mentioning the $1.5 billion in streaming losses, instead saying only that the red ink had hit a “peak.” He spent more time extolling the post-Covid comeback of the theme parks.

On CNBC, Jim Cramer called the results “one of the most disappointing quarters I’ve ever seen at a major company.”

Disney stock dropped 13 percent over the next 24 hours.

With the stock seemingly in free fall, creative personnel revolting and Mr. Chapek no longer on speaking terms with Ms. McCarthy, the chief financial officer, Mr. Gutierrez called Ms. Arnold.

Mr. Chapek didn’t have the credibility or leadership skills to continue as C.E.O., Mr. Gutierrez told her. The only person who could solve the problems was Mr. Iger.

“You aren’t the first” to suggest that, she replied.

Alarm Bells

A few days later, Mr. Iger went for separate walks with Mr. Bergman, the movie chief, and Dana Walden, who oversaw television operations. Each vented their frustrations with Mr. Chapek and told Mr. Iger how bad things were.

“Don’t talk to me, because I can’t do anything about it,” Mr. Iger said. “Talk to the board.”

Each said they already had. They told him everyone had.

Ms. Walden asked Mr. Iger if he’d consider coming back. “I might,” he said. “But they’ll never ask me.”

“Would you call Susan Arnold?” Ms. Walden asked.

Mr. Iger was still on bad terms with Ms. Arnold, partly because of the column by Mr. Smith, and hadn’t spoken to her since he left. “If she wants to talk to me, she knows how to reach me,” he said.

That weekend, Mr. Chapek was in Palm Beach, Fla., to meet again with Mr. Peltz, even though Mr. Jefferson, the Disney spokesman, maintained that board members had instructed Mr. Chapek in August not to meet alone with any activist investors.

Mr. Chapek “never received any such admonition,” Ms. Davis, the spokeswoman for Mr. Chapek, said. Mr. Chapek deemed communicating with activists and other large investors to be an essential part of his duties as chief executive. He “faithfully followed the board’s direction on all matters,” she said.

Mr. Chapek went to Mr. Peltz’s oceanfront mansion, where the investor and one of his sons made their case for change at Disney. The meeting lasted about two hours. Afterward, Mr. Chapek met Mr. Perlmutter of Marvel and briefed him on the meeting.

Mr. Chapek didn’t tell anyone on the board about the trip, but Mr. Iger nonetheless found out about it soon after it happened. (There appear to have been few secrets within Disney’s upper ranks.) Mr. Iger assumed Mr. Chapek had been in Palm Beach solely to see Mr. Perlmutter.

On Nov. 17, the Disney board held a special meeting to discuss the Peltz situation. Mr. Chapek was in Disney’s New York offices and participated by video. He mentioned that he’d had conversations with Mr. Peltz, but not that they’d met in person a couple days earlier. The board reaffirmed its decision to rebuff Mr. Peltz.

Soon after the meeting ended, Ms. Arnold called Mr. Chapek, ordering him to have no further contact with Mr. Peltz, even if other Disney executives were with him. Ms. McCarthy and Mr. Gutierrez would be the only “designated points of contact” with the investor, as Disney said in one of its proxy filings.

The order set off alarm bells for Mr. Chapek. He’d met earlier with Mr. Loeb, who had dropped his campaign to shake up Disney. The board had praised Mr. Chapek for that. Now, he was barred not only from meeting alone with Mr. Peltz but also from communicating with him at all. He sensed a growing lack of trust.

There were two Disney premieres in New York that week, the Searchlight film “The Menu” and the FX series “Fleishman Is in Trouble.” Mr. Chapek, preoccupied by the mounting pressures on both him and the company, didn’t show up. Ms. McCarthy stood in for him.

That Friday, Ms. Walden called Mr. Iger and canceled a walk they had planned for that afternoon. Ms. Walden said Ms. Arnold would be calling him instead. Mr. Iger reported this to his wife.

“They’re not asking you back,” she said.

Mr. Iger agreed, but wondered, “What if they do?”

Ms. Bay said he’d have to accept. “If they’re asking you to come back, they must be desperate. And second, you love the company and the people, you kind of owe it to them.”

Ms. Arnold called as scheduled at 3 p.m. After brief pleasantries, she said she wanted to apologize for their rupture. That was important to Mr. Iger. Without an apology, he wouldn’t consider a return. He accepted it and said they should move on.

“Would you come back?” she asked.

He accepted without hesitating, with three conditions: He wanted it to be announced immediately, no later than Monday, because it was too big a secret for him to keep. It had to be for a limited period — they decided on two years. And he wanted to serve without pay, because he didn’t want anyone to think he was doing it for money.

Ms. Arnold said she’d have to get back to him on that.

The call lasted all of 15 minutes.

Ms. Arnold told Mr. Gutierrez to convene a virtual meeting of the board’s independent directors for Sunday without telling Mr. Chapek. During the meeting, Ms. Arnold asked for Mr. Gutierrez’s assessment. He said that Mr. Chapek had lost the support of the senior leadership team and that there was a serious risk of losing some key creative talent. He’d become dysfunctional. He’d missed important meetings in Orlando preceding the disastrous November earnings call. In a moment of crisis, rather than charting a way forward, he was in denial. He seemed depressed.

The board voted unanimously to terminate Mr. Chapek and instructed Ms. Arnold and Mr. Gutierrez to call him.

That night, Elton John was giving a concert at Dodger Stadium that was being livestreamed on Disney+. Mr. Chapek planned to attend, but was still at home in Westlake Village when the call came.

Ms. Arnold got straight to the point: “Effective immediately, you’re out.” He wasn’t even offered the face-saving gesture of resigning.

Despite his anxieties, Mr. Chapek was unprepared for something this sudden. “Why?” he asked.

“We lost confidence.”

Iger’s Last Extension?

Four hours later, the news broke about who would be replacing him. Mr. Chapek wasn’t surprised.

Mr. Iger moved swiftly to dismantle Mr. Chapek’s legacy and stifle any internal opposition. DMED was abolished within days of his return, its functions returned to the creative executives. Mr. Iger ousted Mr. Daniel . Mr. Perlmutter lost his job four months later. Next, Mr. Iger demanded Ms. McCarthy’s resignation. Ms. Arnold left the board in March 2023, when her one-year extension as board chair came to an end. Ms. Catz left the board this July.

Mr. Iger returned to a company beleaguered on nearly every front. He soon faced a debilitating strike by Hollywood writers and actors, then a bitter proxy fight waged by Mr. Peltz. “Wish,” a high-profile Disney animated film released in late 2023, became the fifth big-budget Disney film to bomb at the box office that year.

Disney shares rose immediately after Mr. Iger’s return, but soon turned down again. After Mr. Peltz lost the proxy contest in April 2024, Mr. Perlmutter sold all of his 25.6 million shares, saying he had no confidence in Mr. Iger and Disney management. Disney shares this week were trading at less than $90, down 55 percent from March 2021.

Predictably, the board rebuffed Mr. Iger’s suggestion that he work for nothing. A securities filing revealed he earned $31.6 million last year.

Mr. Chapek departed with over $20 million in severance payments (after earning just over $24 million for 2022), but his reputation was in shreds.

After he was fired, Mr. Chapek hired Bryan Freedman, a lawyer in Los Angeles known for handling high-profile media departures. Mr. Freedman told The Times he had advised Mr. Chapek that he had “a very strong legal claim against Bob Iger for illegally interfering with his ability to do his job.” But Mr. Chapek told him that his children and grandchildren were a “Disney family” and he couldn’t bring himself to file a lawsuit that might hurt the company, Mr. Freedman said.

Disney responded with a statement saying that Mr. Chapek was fired by the board because “he was no longer the right person to serve as C.E.O. during an increasingly complex period of industry transformation.”

Muzzled by a severance agreement, Mr. Chapek has stayed in the background in the face of what he considers unflattering, unfair and, in some cases, inaccurate accounts of his leadership. Though he joined the board of a medical technology firm , few opportunities have come his way.

From the outset, as Disney’s C.E.O., Mr. Chapek faced daunting challenges beyond his control: the onset of a global pandemic, upheaval in an industry being transformed by streaming and the overt hostility of a much admired and still-powerful predecessor.

At the same time, he certainly contributed to his own demise. Soon after he was named chief executive, he stopped ingratiating himself with Mr. Iger. And, by the end, nearly his entire executive team had turned against him, even people he’d hired and promoted. So did the board — not just Ms. Catz, skeptical of him from the outset, but also Ms. Arnold, once his strongest defender.

Mr. Chapek, his spokeswoman said, “remains deeply proud” of navigating Disney through the “unprecedented terrain” of the Covid crisis, “all while working to transform Disney into a media company poised for future success. Mr. Chapek is confident that, absent his predecessor and ultimate successor’s campaign against him, this collective vision would have been realized under his leadership.”

Current Disney executives say Mr. Iger has restored morale and brought needed stability to the management ranks. Marvel and Pixar had big summer hits in “ Deadpool & Wolverine ” and “ Inside Out 2 ,” both started while Mr. Iger was still creative head. Though Disney stock remains in the doldrums, the streaming combination of Disney+, Hulu and ESPN+ eked out a profit in the quarter ending June 29, three months ahead of projections. Mr. Iger was greeted by fans with delirious applause when he appeared onstage at this summer’s D23 fan gathering in Anaheim, Calif. Mr. Iger was so moved that he had to fight back tears before speaking.

In the annals of corporate governance, there are surely few failures that rival the Disney board’s handling of Mr. Iger’s transition. The influential shareholder advisory service ISS called it a “failed succession” and cited “major missteps” by the board. Among the more startling were the board’s failure to formally interview Mr. Chapek for the job, its failure to fully consider the unworkable reporting structure in which Mr. Chapek reported to both the board and Mr. Iger, and its failure to curb the debilitating conflict that erupted between the two men.

Few feuds among top executives have ever reached the level of intensity and bitterness of the one between Mr. Iger and his handpicked successor. Mr. Iger has called hiring Mr. Chapek for the top job the worst mistake of his career. Still, the question lingers: How could Mr. Iger have so misjudged Mr. Chapek after working with him for nearly 30 years? “I’ve tried hard to conduct my own post-mortem, just so that we as a company don’t do it again,” Mr. Iger said at The New York Times’s DealBook Summit last year, but declined to disclose any conclusions.

Disney said Mr. Iger had nothing further to add.

Last summer, Disney’s board extended Mr. Iger’s contract yet again, until late 2026. Mr. Iger is adamant that this will be the last extension.

James B. Stewart has been a reporter and business columnist for The Times since 2011, focusing on the human drama of the business world and the struggle for corporate power. More about James B. Stewart

Brooks Barnes covers all things Hollywood. He joined The New York Times in 2007 and previously worked at The Wall Street Journal. More about Brooks Barnes

Inside the Media Industry

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