By A hedge fund executive has been revealed as a leading deep-sea shipwreck hunter following a Bloomberg Businessweek investigation that uncovered his decades-long pursuit of sunken treasures worth billions of dollars.
Anthony Clake’s Underwater Ventures
Anthony Clake, a 43-year-old executive at Marshall Wace in London, has been directing high-tech operations to locate lost treasures on the ocean floor. Although Clake himself doesn’t dive to the depths, he invests in and manages the advanced technology necessary for these expeditions.
High-Tech Treasure Hunts
Marshall Wace is a major hedge fund managing around $62 billion in assets. Clake has quietly led treasure hunts using sophisticated underwater technology, including million-dollar marine robots capable of descending to depths of 6,000 meters and sonar systems that create detailed 3D maps of the seabed. This cutting-edge technology enables Clake and other wealthy individuals to explore the ocean’s depths for hidden treasures.
Notable Discoveries
Clake’s ventures have resulted in significant discoveries. In 2016, his contractors located the SS Coloradan, an American steamer sunk by a German U-boat off the coast of South Africa, which contained drums of gold precipitate. Another significant find was a shipwreck at a depth of 4,500 meters off the coast of West Africa, containing 50 tons of silver coins. The discovery was kept secret, the coins were melted down and sold, and all parties involved signed non-disclosure agreements.
Legal and Logistical Challenges
The financial gains from these treasure hunts remain unclear. However, the most lucrative shipwrecks often lead to competing claims, legal battles, and government seizures. For instance, the San José, a Spanish galleon discovered off the Colombian coast by a Clake-affiliated company, is believed to hold treasures worth billions. Nevertheless, recovery efforts are stalled due to claims from another US treasure-hunting entity, the Colombian government, and a Bolivian indigenous group.
Avoiding Interference
To circumvent governmental interference, Clake’s crews sometimes employ a tactic known as “wet storage,” where they temporarily leave their findings at a different underwater location. Despite the challenges and uncertainties, Clake remains motivated by the intellectual and technological aspects of underwater exploration.
Legal Considerations
While treasure hunting itself is not illegal, international law mandates that any discovered shipwrecks be reported to the authorities. According to the US Abandoned Shipwreck Act of 1987, all shipwrecks within US waters belong to the state.
Clake declined to comment to Business Insider but told Bloomberg, “I don’t do it for a living. I find it interesting to use technology to solve problems under the sea.”