Tech billionaire Gabe Newell has taken his passion for the sea to an entirely new level. The man best known for revolutionizing gaming through Valve Corporation is now turning the tides in the superyacht industry by acquiring the world-renowned shipyard, Oceanco.
Oceanco, until recently owned by Dr. Mohammed Al Barwani and his family since 2010, has long held a place at the top of the luxury yacht world. The shipyard’s iconic vessels are known for their size, elegance, and technological sophistication. But beyond its glamorous reputation, what makes this deal stand out is how well Newell’s ideals mesh with the culture of the company. Described in the article as someone who “doesn’t want to fix it; he wants to fuel it,” Newell respects Oceanco’s legacy and seems intent on amplifying its strengths rather than overhauling them.
Newell’s relationship with the sea is not a recent hobby. It runs deep—so deep, in fact, that he already owns Inkfish Expeditions, a marine research company devoted to deep-ocean exploration. With this background, his purchase of Oceanco seems less like a luxury acquisition and more like a strategic alignment. He understands yachts not just as symbols of wealth, but as platforms for innovation and discovery. The yard’s order books are reportedly full until 2030, signaling a booming demand that Newell now has a direct hand in shaping.
Among his personal fleet, Newell’s $250 million yacht Tranquility has already drawn significant attention. Yet even that is about to be outshined by his latest creation, Project Y722, a massive 367-foot superyacht currently under construction at Oceanco. Priced at around $400 million, the vessel is expected to double as a hub for scientific research, a feature that reflects both his adventurous spirit and commitment to the future of marine technology.
What sets Newell apart from other billionaire yacht owners is not just the size of his boats but how he integrates them into his lifestyle. He reportedly works remotely from the master suite of Tranquility, keeping a seven-day work schedule that includes scuba diving and gym sessions as part of his daily routine. In this sense, he lives the very culture he now owns—immersed in both innovation and the ocean itself.
Oceanco, under Newell’s leadership, may be set for an even bolder future. Its previous achievements include some of the most famous yachts on the water. Jeff Bezos’s $500 million sailing yacht Koru, known for its towering triple masts, was built by Oceanco. The shipyard also created the eco-conscious Black Pearl, which uses a revolutionary DynaRig sail system and is rumored to have inspired Koru. Other prestigious builds include Kaos, owned by Walmart heiress Nancy Walton Laurie, and Bravo Eugenia, the sleek, $225 million superyacht of Dallas Cowboys owner Jerry Jones.