Associate of tycoon Ong Beng Seng linked to purchase of former Google co-founder’s superyacht

A close associate of billionaire property tycoon Ong Beng Seng was behind the purchase of a 73-metre luxury superyacht once owned by Google co-founder Sergey Brin, according to a report by Bloomberg, citing individuals familiar with the matter.

The vessel, named Capricorn, was transferred to a new holding company, Aquatic Holdings, in late October 2024. The filings reviewed by Bloomberg did not disclose the ultimate beneficial owner.

The timing of the transaction coincided with legal developments in Singapore, where Ong was charged in a political corruption case involving former transport minister S. Iswaran.

Yacht purchase and ownership trail

Under his bail conditions, Ong was required to remain in Singapore unless granted court permission to travel.

During one approved trip, a visit to the yacht was included in his itinerary, though Bloomberg’s sources stated it was unclear whether he actually boarded the vessel.

The superyacht, previously named Dragonfly, was listed for sale at about €27 million (US$31.7 million) in June 2024, according to a post by yacht broker Y.CO. The final purchase price was not disclosed.

At the time of sale, the yacht featured a helipad, an outdoor cinema, jacuzzi, and extensive water sports facilities, with eight cabins capable of housing up to 18 people.

Built in 2009 and later refurbished, the vessel was considered one of the more high-end yachts of its class.

Capricorn is registered in the Cayman Islands. Bloomberg’s review of maritime records found the vessel had transferred ownership from the Marshall Islands-based Prime Meridian to Aquatic Holdings, a company with no other listed ships—often a sign it exists solely to hold the asset.

Bloomberg tracking data showed that Capricorn anchored in several European locations, including Croatia and Italy, during Ong’s court-approved trip between 28 April and 15 May 2025.

The Singapore court allowed Ong to travel to the US, UK, and Italy, later expanding his itinerary to include Venice, Dubrovnik, and Bari. His travel was facilitated by private aviation due to medical needs.

Ong’s health and legal case

Ong, 79, was diagnosed with advanced multiple myeloma, an incurable cancer of the plasma cells. He is immunosuppressed and suffers from skeletal damage and a chronic, non-healing foot wound.

On 15 August 2025, the billionaire was fined S$30,000 (US$23,285) for abetting obstruction of justice after pleading guilty to the offence.

He had assisted Iswaran in improperly billing a S$5,700 business class ticket during an active Corrupt Practices Investigation Bureau (CPIB) probe.

Principal District Judge Lee Lit Cheng imposed the maximum fine available to a district court, citing humanitarian reasons.

Medical evidence presented in court indicated that imprisonment would likely endanger Ong’s life due to his fragile health.

Judge Lee stated that even with access to a medical ward in prison, the risk of trauma, infection, and lack of familiar caregiving support made incarceration disproportionately dangerous.

She also noted that Ong’s two overseas trips in the past year were carefully managed with his private medical team and specialised arrangements, reducing his exposure to health risks.

The judge stressed that judicial mercy was exercised solely on medical grounds, not financial privilege.

While acknowledging the seriousness of the offence, she concluded that humanitarian considerations outweighed punitive concerns.

Court documents showed that Iswaran had initiated the billing arrangement and that Ong maintained proper documentation without concealing the delay.

Ong paid the fine immediately after sentencing and did not file an appeal.

Background and corporate profile

Ong, credited with bringing Formula One night racing to Singapore in 2008 alongside Bernie Ecclestone, has an estimated net worth of US$1.4 billion, according to the Bloomberg Billionaires Index.

He and his wife, Christina Ong, control Hotel Properties Limited (HPL), which owns and manages several luxury properties, including the Four Seasons Hotel Singapore and the Concorde Hotel New York.

The couple also holds a majority stake in British luxury fashion label Mulberry Group.

Neither Ong nor a spokesperson for Sergey Brin responded to Bloomberg’s requests for comment. Hotel Properties also declined to comment.

A representative for Y.CO said the firm could not discuss the transaction due to confidentiality agreements.