Celebrity Rides: Jeb Bush’s $75 Million Corvette
With Hillary Clinton a favorite to win the Democratic nomination, and Jeb Bush reportedly considering a run for the Republican candidacy, 2016 may very well feature a rather retro matchup of Bush vs. Clinton (those 90s kids from Buzzfeed will love it!).
In the last election cycle, Mitt Romney had an issue with being perceived as an obscenely wealthy, out-of-touch elite. Jeb could find himself in the same position, now that the news is out about his blue, $75 million Corvette. On the other hand, he might score some points with environmentalists, since it’s a relatively fuel-efficient Corvette (compared to the other vehicles in its class, that is).
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Allow us to explain: Bush is the chairman of BH Logistics, which owns 1.4 million shares of Dorian LPG, a liquefied petroleum gas shipping company that uses new, eco-friendly tanker ships (Bloomberg calls them “the Prius of the tanker class”).
“Our new VLGC [Very Large Gas Carrier] vessels use about 17 percent less fuel than a regular vessel,” said Ted Young, Dorian’s chief financial officer. “They cost about $75 million to $80 million a piece.”
So Jeb Bush’s $75 million Corvette isn’t a pricey sports car, but actually the name of Dorian’s newest ship.
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“All of our newbuilds begin with a ‘C,’” said Young. “But it’s actually not named after the car. It’s named after a class of ships called corvettes.”
Yeah, apparently a “corvette” can also refer to a small, lightly armed warship. You learn something new every day.
News Source: Bloomberg