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$300 million yacht spotted off Malibu coast

August 12, 2010 12:00:00 AM PDT
A $300 million yacht was spotted off the coast of Malibu on Wednesday. The luxury vessel is owned by 38-year-old Russian billionaire Andrey Melnichenko.

The 394-foot yacht, designed by Phillippe Starck, is en route from San Diego to San Francisco.

The yacht features elaborate décor, a 2,500 square-foot master suite and three swimming pools on board.