KUALA LUMPUR, Nov 21 — A luxury yacht once owned by Malaysian fugitive Low Taek Jho, infamous for its ties to the 1Malaysia Development Berhad (1MDB) scandal, has found new life under a different name and ownership.

The 300-ft (91.5 metres) vessel, now named Draak — Dutch for "dragon” — was rebranded by its Dutch-based shipbuilding company, Oceanco.

Before adopting its new name, the yacht was called Tranquility when it was sold to the Genting Group for a discounted price of US$126 million (RM514 million) in 2019.

This sale followed the vessel’s seizure by Malaysian authorities in 2018.

Originally, the yacht was named Equanimity, and it was valued at US$250 million (RM1.1 billion) when completed in 2014.

The superyacht can accommodate up to 26 guests and 31 crew members, and it underwent several refits between 2021 and 2023.

As of its last reported position on May 10, Draak was docked at the Port of Zwijndrecht in the Netherlands, according to VesselFinder, a free AIS vessel tracking website.

Not a Saudi Prince or an oligarch

According to Forbes, Draak’s new owner is none other than US video game developer-turned-billionaire, Gabe Newell.

He is a Harvard dropout and former employee at Microsoft where he helped create the first versions of the Windows operating system.

Nicknamed "Gaben” by fans and video game enthusiasts alike, Newell co-founded video game company Valve Corporation in 1996 with former colleague Mike Harrington after spending 13 years at Microsoft.

Valve is known for creating popular game franchises such as Half-Life, Counter-Strike, Left 4 Dead and Team Fortress.

As Valve’s co-founder and president, Newell also led and oversaw the development of Valve’s digital distribution service Steam for Windows PC, which saw tremendous commercial success and near monopoly of the global market share in the following decades since launching in 2003.

He is also estimated to be the wealthiest person in the video games industry and the top 400 wealthiest in the United States, with a net worth of an estimated US$9.5 billion (RM42.44 billion), according to Forbes.

Forbes also reports that Newell is the owner of another Oceanco yacht, Project Y722.

Designed by Oceanco and Espen Øino International, with interiors by Mark Berryman Design, Y722 will be used for scientific research and exploration.

Oceanco described the vessel as embracing innovative technologies and featuring radical layout changes that challenge the traditional yacht concept.

This 364-ft (111-metre) vessel, valued at US$335 million, is set for delivery in 2025.