Clive Palmer's $40 million superyacht hits Gold Coast sandbank
Billionaire mining magnate Clive Palmer's $40 million superyacht has been saved from a sandbank on the Gold Coast after it became stuck for the second time in months.
The 56-metre vessel Australia ran aground on a sandbank near Wave Break Island in the Gold Coast Broadwater estuary at about 6pm last night.
A tugboat was deployed and managed to free the superyacht by about 8pm.
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Clive Palmer's superyacht Australia ran aground on the Gold Coast overnight. 9News
It's not known if Palmer was aboard when the yacht ran aground.
It isn't the first time the Australia has been in need of rescue.
The superyacht also ran aground off the coast of Singapore last October.
The Australia, which is outfitted with a jacuzzi, two sundecks, and multiple bars, is now docked safely at the Southport Yacht Club on the Gold Coast.
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