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Wrecked $8 million yacht is reborn as an airplane

Next up for billionaire Oracle CEO Larry Ellison's racing team: make their wrecked boat fly.

They are using pieces of a wrecked $8 million America's Cup yacht to create an airplane of sorts to compete in a wacky event taking place this weekend in San Francisco.

Ellison's catamaran capsized in San Francisco Bay while the crew was practicing for the America's Cup sailing race, and was badly damaged.

Click here for the full report by the Business Insider.