Yacht owner and businessman Peter de Savary has died aged 78.

Yacht owner and businessman Peter de Savary has died aged 78.

An avid yachtsman, de Savary owned more than 30 boats during his lifetime, including a 30-meter river barge named CleverHollywood’s iconic yacht Kalizma and sailboat designed by Herreshoff Vagabond.

The British entrepreneur also led the British challenge for the America’s Cup by the Royal Burnham Yacht Club in 1983. The team qualified for the Louis Vuitton Cup final but were beaten by the Australian syndicate of ‘Alan Bond, who went on to win the Auld Mug by beating the New York Yacht Club for the first time in 132 years.

De Savary was also a regular on the regatta circuit competing in the Newport Bucket and the St Barths Bucket.

Famously expelled from school at the age of 16, de Savary began his business empire with an export business to Africa in the 1960s. However, he is best known for his work in the hospitality industry. . He founded the St James’s Club franchise and launched the Carnegie Club at Skibo Castle, where Guy Richie married Madonna.

De Savary also invested heavily in Grenada, developing the Port Louis site as a marina and owning the Mount Cinnamon Resort on Grand Anse beach. During his colorful career, he also founded Pendennis Shipyard and served as chairman of Millwall Football Club.

De Savary is survived by his third wife and five daughters.

In memory/British investor Peter de Savary on the boats he loved and lost

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