Owner laments $24M yacht that burst into flames

The owner of a yacht that burst into flames near San Diego on Thursday said he's lost "the most beautiful boat" ever made.

According to a report from NBC 7 in San Diego, Larry Jodsass, a 79-year-old Minnesota resident and the former chairman of a semiconductor company, owned the yacht that was caught on camera as it became engulfed in smoke and fire.

The $24 million yacht was named "Polar Bear."

"Am I angry? No. Anger is not the right word," he told NBC 7. "It was my toy, my wonderful, beautiful piece of equipment. I think it's the most beautiful boat that ever has been built."

Jodsass said it took five years to build the boat, which has spent three years in the water. After a winter trip to Costa Rica, the vessel was dry docked in Chula Vista when it caught fire. Initial reports suggest the fire was caused by welding work being done on the boat.

You can see video of the boat, including images of it before the fire, here.

By CNBC Staff