Oceanco, one of the world’s leading custom superyacht builders, is entering a new phase with Gabe Newell joining the company’s ownership structure.

According to a statement released this morning by Oceanco, with Gabe Newell’s acquisition, the shipyard begins a new chapter focused on enhancing internal competencies and advancing design and engineering activities. The declared goal is to continue investing in people and processes, with attention to the marine environment and the reliability of the shipyard’s technical solutions.

According to Forbes, Gabe Newell has an estimated net worth of USD 9.5 billion, placing him 322nd among the world’s wealthiest individuals. He is the head of Valve Corporation, a company active in video game and digital technology development, founded in 1998 together with former Microsoft colleague Mike Harrington.

Newell is also believed to be the owner of the superyacht Y722, launched in 2023 and currently under construction at Oceanco. The 111-meter (364-foot) vessel is designed for scientific research and exploration. The exterior styling is by Espen Øino International, while the interiors are by Mark Berryman Design. The yacht features innovative technologies and a radical layout compared to industry standards, with amenities including a spa, sauna, beach club, gym, and Jacuzzi. Delivery is scheduled for 2025, with an estimated value of around USD 335 million.

According to the statement, “Newell’s intention is not to alter the identity of the brand, but to work alongside the existing team, contributing to the development of the shipyard’s technical and production potential in a medium to long-term perspective. With this transition, Oceanco confirms its orientation toward an approach that integrates industrial experience and design development, keeping construction activities and professional expertise at the core.”

Over the past fifteen years, under the leadership of the Omani Barwani family, Oceanco has built some of the most well-known yachts in contemporary yachting, including:

Kaos – believed to be owned by Sheikha Moza bint Nasser (Qatar Royal Family),

Bravo Eugenia – owned by Jerry Jones, owner of the NFL team Dallas Cowboys,

Black Pearl – owner not officially confirmed; previously attributed to Oleg Burlakov, who passed away in 2021,

Koru – owned by Jeff Bezos, founder of Amazon.

In these years, the shipyard has strengthened its position in the custom yacht segment over 100 meters, standing out for its targeted design approach and application of advanced technical solutions.

The Barwani family, which contributed to the brand’s development, will remain active in the sector through its ownership of Turquoise Yachts, a Turkish shipyard specialising in custom yacht construction.