New yacht eclipses all others in size

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The world's largest yacht, the 557-foot Eclipse, has hit the water.

Eclipse, which is being built by Roman Abramovich, is getting its finishing touches, and may not be officially launched and delivered until next year at the earliest, according to the Wall Street Journal's Wealth Report.

Eclipse tops the world's previous record holder, a 525-footer owned by Sheikh Mohammed bin Rashid Al Maktoum of Dubai.

Abramovich has lost about half his wealth in the last year, now ranking No. 51 on the Forbes list of the world's wealthiest people, with $8.5 billion. The yacht is estimated to have cost $492 million.

Click here for a report in The Daily Mail.