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There's Treasure Worth Billions Under the Sea Waiting to Be Found
Posted
November 26, 2023
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November 26, 2023
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0:59Now PlayingThe most successful shipwreck hunter in modern times, perhaps in all of history, is a 43-year-old hedge fund executive who rarely leaves dry land.
The glitter of deep-sea treasure has lured adventurers since time immemorial, and most have ended up poorer instead of richer. There are about 3 million wrecks in the ocean, an unharvested bounty worth untold billions of dollars, but getting to them can be dangerous, difficult and ruinously expensive.
Recently, though, advances in underwater technology have opened up swaths of the ocean floor to exploration. Beyond gems and cultural treasures are rare minerals, oil, gas, battery metals and creatures unknown to science—all outside the reach of any state regulator that might constrain an eager entrepreneur. In the deep-sea gold rush that’s resulted, what matters most is getting there first.
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