$120 Million Yacht Just Arrived in Newport & It’s Massive

You know it’s summertime when boats begin dropping anchor in the harbors around the SouthCoast and Rhode Island, and every so often, there is a vessel that turns heads.

Goat Island in Newport attracts some luxurious vessels every season, and on Tuesday, a massive yacht worth over $100 million was the one turning heads.

The $120 million Yacht Podium belongs to Roger Penske of Penske Corporation.

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Who Is Roger Penske?

Roger Penske is a successful entrepreneur who got his start as a professional auto racing driver. His journey led him to become the founder and chairman of Penske Automotive, a global leader in transportation services with an extensive portfolio of automotive dealerships, used car centers, commercial truck dealerships, and collision centers.

As a testament to his beginnings, Penske also owns a racing team called Team Penske.

With an estimated net worth of $3 billion, a $120 million yacht is chump change.

READ MORE: Luxury Yacht Spotted in New Bedford Harbor

Penske's Yacht Spotted in Newport

What's Going On In Rhode Island shared stunning images of the yacht staking claim on Goat Island, and online users were excited to see the return of “The Captain.”

“Cool to see that he decided to come to our neck of the woods just days after they won the Indy 500,” said Ryan Jamal. “I’m sure him and (Jay) Leno have been kickin’ it.”

Whether the 236-foot luxury vessel is merely stopping by for a break or the Penske’s are spending their summer in Newport, the massive yacht has certainly got locals talking.