Aussie billionaire Clive Palmer planning to “ressurrect” Titanic

The life of the super rich seemingly knows no boundaries with reports that billionaire Australian businessman Clive Palmer (58) has entered into an agreement with Nanjing-based CSC Jinling Shipyard to build a replica of the ship as part of a planned fleet of luxury liners. The replica Titanic is reputed to have been priced at close to half a billion dollars and will run to just under 270 metres in length (watch out Larry Ellison, Steve Balmer and Roman Abramovich there’s a new ship in town!) but will feature the very latest in 21st century technology (hopefully enough lifeboats too!).

Palmer’s fortune has been estimated at A$5.05 billion (£3.3 billion) making him Australia’s fifth-richest person. His interests range from golf courses, hotels, coal and iron-ore mining projects, a nickel smelter, a soccer team and a horse stud.

Let’s hope the venture doesn’t suffer the same fate as the ill fated original Titanic which sank on April 15 1912 after hitting an iceberg of the coast of Newfoundland. Over 1500 passengers and crew lost their lives.