- Monaco, a tiny city-state on the French Riviera, draws celebrities and the ultra-wealthy to annual events like the Monaco Grand Prix the Monaco Yacht Show.
- The 2019 Monaco Yacht Show kicks off on September 25.
- Nicholas Frankl, founder and CEO of My Yacht Group, throws superyacht parties and other events for an ultra-exclusive and ultra-wealthy clientele, including royalty, business leaders, and celebrities, in Monaco and beyond.
- For his parties at the Monaco Yacht Show, Frankl told Business Insider that he charters luxury yachts for between $US250,000 and $US1 million per week.
- Onboard, the exclusive guest list goes through at least 100 bottles of Champagne, 35 ounces of caviar, and countless bottles of rosé.
- Visit Business Insider’s homepage for more stories.
Monaco, a city-state on the French Riviera, is famous for hosting glamorous events such as the Monaco Yacht Show and the Monaco Grand Prix.
Thanks to these glitzy events and its reputation as a tax haven, the tiny country has become a magnet for the ultra-wealthy, earning it the nickname of “Billionaires’ Playground.”
If there’s anyone who knows this playground, it’s Nicholas Frankl, the founder and CEO of My Yacht Group. The company creates high-end experiences for an elite clientele of millionaires, billionaires, celebrities, business leaders, socialites, and artists at events like the Monaco Grand Prix, the Monaco Yacht Show, Art Basel in Miami, the holiday season in St. Bart’s, and even the Super Bowl.
During the Monaco Yacht Show, which kicks off this year on September 25, Frankl, an ex-Olympian, hosts extravagant superyacht parties and ultra-exclusive dinners.
In a recent interview, Frankl gave Business Insider the low-down on what goes into throwing a superyacht party for the ultra-wealthy at the Monaco Yacht Show.
Throwing a superyacht party for billionaires and celebs doesn’t come cheap
You can’t throw a superyacht party like he does for under six figures, Frankl said.
First of all, if you don’t have your own yacht, you’ll have to charter one, which typically costs between $US250,000 and $US1 million per week plus expenses. One of the yachts Frankl has chartered, a 254-foot vessel called Legend, charges more than $US540,000 per week in the summer months.
Then there’s the staff, which includes bartenders and catering staff, security, hostesses – Frankl says they hire “angels” who roam around pouring rosé for guests – and musicians. There’s always live music: a five-piece band that strolls around the yacht, as well as a DJ on the top deck.
And don’t forget the food and drink: caviar, rosé, and Champagne galore. Because according to Frankl, the types of guests who attend these parties will be expecting only the best.
The clientele is ultra-exclusive – and good luck getting in if you don’t know the host
Between 120 to 150 people usually attend Frankl’s yacht parties in Monaco, and of course, they’re invite-only.
“The difference between our events and the majority of every other event that you’ll ever go to in your life is that I know 80% of the guest list,” Frankl said. “… [so] you could say, ‘how do you know Nicholas and Annabelle?’ and there is an immediate point of connection.”
The guests might discover they both met their hosts at Art Basel or Hong Kong or last year’s Grand Prix, he says. This keeps the atmosphere feeling intimate.
“It’s not a bunch random and discombobulated strangers,” Frankl said. “There’s really a connection amongst the people.”
Indeed, Frankl says one of his primary aims is connecting people. My Yacht Group’s tagline is “Connecting the world’s most interesting people.”
At Frankl’s events, that could mean royalty – Prince Albert II of Monaco has been his guest – as well as astronauts, doctors, scientists, or athletes. Curating the guest list is something he takes great pride in.
“It’s a broad spectrum of interesting [people] and, in general, high achievers in their fields,” he said. “And when you put those people together on a superyacht with the right atmosphere and the right level of exclusivity, then people tend to have a really great time and they thank you for it.”
100 bottles of Champagne and 35 ounces of caviar
Of course, when you get so many interesting – and wealthy – people together on a superyacht, you have to make sure the food and drink is on the same level as the guest list.
“If you’re hosting a large superyacht soiree for 125 to 150 VIPs, it goes without saying that they expect the finest food and wine and that’s what we deliver,” Frankl said.
My Yacht Group hires A Roca Gourmet to cater their Monaco yacht parties.
“We go through more than a kilo of caviar,” Frankl told Business Insider. “We’re serving lobster, langoustines, beef.”
Canapés are typically served to start, and then there’s a “light cooking station” with dishes like risotto, caviar, and vegan options, followed by a variety of desserts.
All the food must be “yacht-friendly,” meaning you can eat it while standing and chatting, and it’s not crumbling through your fingers onto the decking, Frankl says.
And then there’s the alcohol. Over the course of a night’s yacht party, the guests will go through about 100 bottles of Champagne, Frankl said.
That’s in addition to the Rock Angel Rosé from Château D’Esclans. Frankl said they usually go through “quite a number” of their three-litre Double Magnum bottles, which retail for about $US190 each.