Submarines replace yachts as trendy toy for the mega-rich

Big boats have long been status symbols of the rich and famous. As Van Halen singer David Lee Roth noted in his autobiography, "Money won't buy you happiness. But it will buy you the yacht that pulls up alongside it."

But ABC News' Christina Ng says submarines appear to be replacing yachts as the signature vehicle of today's wealthy adventurers. Virgin media mogul Richard Branson has his own innovative submarine, and as we recently reported on the Sideshow, James Cameron has been breaking records for the world's deepest solo dive in his own high-tech sub.

"More people have been to the moon than to that depth of the ocean," Bailey S. Barnard, associate editor of luxury magazine Robb Report, told

And even though Microsoft co-founder Paul Allen owns Octopus, the world's largest yacht, it does come equipped with its own private submarine.

Check out Ng's full story to learn why submarines are so popular with the world's richest individuals.

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