It's GOOD to be Larry Ellison! $300 Million to him is about 30 bucks to you and me.
Wasn't there an old saying about the only difference between men and boys, is the price of their toys?
The traditionalist, Monhull Yatch Club types went nutz when Larry said he was going to use 72' catamarans to race for the America's Cup. There were all kinds of nay-sayers who said you can't match race in catamarans, etc. Then they figured out how to make them foil (the Kiwi's actually did it first) and all hell broke loose. It turned into one of the best America's Cup matches ever.
If you saw those foiling C class cats I put the video of a few pages back, they have been foiling for about 10+ years. Larry went and got some of those guys to join his team, and some guys from the foiling Moth class, and some got help from Boeing as well.
Money is no object when you are number 2 or 3 on the World's Richest Man list.
Here's an excellent video which explains how both the AC 72 and the Moth are able to "Fly", done by Nathan Outteridge, two time Moth World Champion. He lives in Detroit now.
America's Cup: Nathan Outteridge foiling on his Moth - YouTube
Oh, I looked into getting a Moth, so I could fly too. A new one is about $16K and the dealer I spoke with said you do a lot more swimming than actual flying! Nathan makes it look easy, but then the best guys always do!