logo
The World's Richest Shipwreck in History Could Be Worth $17 Billion

The World's Richest Shipwreck in History Could Be Worth $17 Billion

Yahoo2 days ago

"Hearst Magazines and Yahoo may earn commission or revenue on some items through these links."
A decade ago, the Colombian government announced the discovery of what was presumed to be the wreckage of the San José, a Spanish galleon that was sunk by the British Navy more than 300 years ago. But this wasn't just any ship. Historians say the vessel was carrying not only a crew of more than 600 men but also a massive fortune, including "200 tonnes of gold, silver, and emeralds belonging to the viceroy of Peru.' In today's currency, that pot would be worth more than $17 billion, making it the world's richest shipwreck in history if recovered. In the years since then, the government has funded research efforts to confirm the ship's origins.
This week, researchers shared new findings after sending an underwater drone on 'a non-intrusive investigation of an 18th-century AD shipwreck,' which was covered in a new article in the archaeology journal Antiquity, published by Cambridge University Press. The most essential clue: 'hand-struck, irregularly shaped coins—known as cobs in English and macuquinas in Spanish—that served as the primary currency in the Americas for more than two centuries.'
'This case study highlights the value of coins as key chronological markers in the identification of shipwrecks, particularly those from the Tierra Firme Fleet,' researchers wrote in Antiquity. 'The finding of cobs created in 1707 at the Lima Mint points to a vessel navigating the Tierra Firme route in the early eighteenth century. The San José Galleon is the only ship that matches these characteristics.'
The San José Galleon is also referred to as the 'Holy Grail of shipwrecks,' and a private company Sea Search Armada (formerly called Glocca Morra) say they first discovered the shipwreck in 1981, and later shared the coordinates with the government. The company then sued the government for $10 billion, 'equivalent to half the fortune, according to its calculations.' Colombia has since declared the area a 'protected archaeological area,' and President Gustavo Petro wants to recover and raise the wreck for scientific purposes before his term ends in 2026, according to Bloomberg.
However, researchers stopped short of confirming the wreckage entirely, noting at the end of the report that this 'represents only the first step in a long-term project. The initial phase focuses on non-invasive surveys, with no plans for object recovery or excavation until the entire site is fully characterized.'
You Might Also Like
12 Weekend Getaway Spas For Every Type of Occasion
13 Beauty Tools to Up Your At-Home Facial Game

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Staff sues Seaport's Mecha Noodle Bar claiming wage theft
Staff sues Seaport's Mecha Noodle Bar claiming wage theft

Boston Globe

time3 hours ago

  • Boston Globe

Staff sues Seaport's Mecha Noodle Bar claiming wage theft

The filing is the latest in a series of local lawsuits brought by restaurant workers alleging wage theft as result of illegal tip pooling practices. Earlier this month, the state's Attorney General's office fined Montoya, who is from Colombia, said shortly after she began working at the restaurant, she found herself helping many of the Spanish-speaking kitchen staff sort out inconsistencies in their paychecks. She then started taking a closer look at her own paycheck and noticed that her tips were very low. Advertisement 'I never really received a full paycheck,' said Montoya, who has worked in the restaurant industry for nearly six years. 'Nobody really knew the math and the numbers were very inconsistent.' Advertisement This was all more more disconcerting to Montoya, she said, because the restaurant has a policy of 'They said they were donating $25,000 or $50,000 a month,' Montoya said. 'But no money for kitchen staff, servers, or bartenders... It felt weird. It just didn't make any sense.' The ramen chain was founded in 2013 in Connecticut by co-founders Tony Pham and Richard Reyes and has ten locations, including one in Brookline. Mecha promises affordable insurance, paid time off, and parental leave for its workers, and runs a foundation called Eat Justice, which donates a portion of the company's profits toward employee scholarships. After repeated attempts to ask for clarification, Montoya decided to sue, claiming in her filing that she 'frequently complained about not receiving all tips to which she was entitled' and that management refused to let her see the tip out sheets to verify where the tips were going. 'In the State of Massachusetts you have to provide someone payroll and employee records on request,' said Lou Saban, who is representing Montoya in the case. 'Their refusal is something I haven't encountered before.' Attorneys for Mecha did not return a request for comment. Janelle Nanos can be reached at

Mayor Bass offers support to downtown L.A. businesses
Mayor Bass offers support to downtown L.A. businesses

Yahoo

time4 hours ago

  • Yahoo

Mayor Bass offers support to downtown L.A. businesses

Mayor Karen Bass is moving quickly to shore up small businesses caught in the crossfire of recent federal immigration enforcement actions in L.A. In a rebuke of what she called the 'chaotic' and 'reckless' federal response, Bass announced today that the city is launching a series of multilingual virtual webinars to connect Downtown L.A. businesses with urgent assistance – from legal aid and funding access to graffiti cleanup and staffing support. 'For a week now, our city has been dealing with the fallout driven by reckless raids of Home Depot parking lots and the activation of federalized troops,' Bass said in a news release. 'They have no plan but chaos – but the city is prepared to deliver for downtown businesses who have been impacted.' The response comes as L.A. grapples with the aftermath of high-profile immigration raids and rising tensions in immigrant neighborhoods. The Mayor's Office has instituted a nighttime curfew (8 p.m. to 6 a.m.) following vandalism and looting incidents by what Bass described as 'bad actors' exploiting the crisis. The virtual assistance events begin today – Friday, June 13 – and will be held in English, Spanish, and Korean. The webinars aim to offer practical support for business owners navigating damage, legal confusion, and staffing disruptions caused by ongoing enforcement activity. Councilmember Ysabel Jurado, who represents the district, emphasized the need to stand strong for both businesses and the immigrant community. 'Our local businesses are the backbone of Downtown L.A.,' Jurado said. 'We will keep showing up for them – and for the people who make Los Angeles vibrant and strong.' DTLA Business Relief Webinars: Friday, June 13 | 1-2 PM Monday, June 16 | 1-2 PM Wednesday, June 18 | 1-2 PM👉 RSVP here Businesses can also request help with property restoration, legal rights, funding access, and more. For info on curfew enforcement and public safety updates, . Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Barcelona winger target ready to accept €12 million gross annual salary
Barcelona winger target ready to accept €12 million gross annual salary

Yahoo

time4 hours ago

  • Yahoo

Barcelona winger target ready to accept €12 million gross annual salary

Following the meeting between FC Barcelona sporting director Deco and Nico Williams' agent, Felix Tainta, there is renewed hope that the Spaniard might end up joining the Catalans. Nico had been Barcelona's priority target last summer and everything appeared to be on track for the transfer to go through. However, the youngster's concern about his registration, owing to the Blaugrana's FFP issues, meant that the deal fell through. Advertisement However, Nico still harbours hopes of playing for Barça and is believed to have requested the meeting that took place today. Nico Williams is willing to accept salary terms offered last year Furthermore, a new update from journalist Santi Aouna now reports that Nico is willing to accept the salary terms that Barcelona offered him last year. The Blaugrana had put forth a wage packet worth €12 million gross per season (~€6.3 million net) to the 22-year-old Spanish international in 2024. Nico Williams is keen on joining Barcelona. (Photo by) It must be noted that Nico is also attracting strong interest from Bundesliga champions Bayern Munich. Advertisement And journalist Florian Plettenberg in Germany had claimed that the winger was seeking a salary of around €20 million gross per season. But, it appears that Nico would be willing to accept a lower offer of €12 million gross annual salary from Barcelona – the same amount that they had proposed in 2024. If true, this shows that the Athletic Club winger is very much intent on playing for the La Liga champions and is prepared to do everything in his power to make it happen. Nico has a release clause worth €62 million which Barcelona will have to trigger as Athletic Club will not negotiate on the transfer fee.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store