When you become a billionaire, you run into a whole new class of problems that you sometimes have to deal with.
For instance, those making minimum wage at a Burger King somewhere, while honorable work, may not have the luxuries of the billionaire lifestyle - but at least they never have to worry about slamming their super-yacht into the side of a prized coral reef off the coast of Belize.
Because that's the problem that hedge fund manager Daniel Loeb is being forced to deal with this week. Loeb's yacht damaged what is being called a "pristine reef" near the famous Great Blue Hole outside of Belize, according to Bloomberg.
Loeb's 200 foot yacht was filmed last Sunday anchored at Belize's Lighthouse Reef Atoll. Spokespeople say Loeb was not on the yacht at the time and the Financial Times has reported there will be an official investigation.
A spokesperson for Belize's department of the environment said Loeb's yacht caused the damage: “Samadhi on Sunday lowered the anchor in a very sensitive area of Belize. Officers are doing an investigation. We know that damage was done,” the spokesperson to FT.
Loeb responded: “As a life-long surfer and someone who loves the ocean, I was horrified to hear about this incident in Belize. We promptly contacted the Belize Audubon Society (a conservation group) and are committed to working together to restore the reef.”