 He had originally intended to restore a yacht from J.P. Morgan's era but, when he was unable to find one that met his requirements, he set out to build a modern replica.Morgan built four large yachts with the name "Corsair".The last, "Corsair IV", launched in 1930, was 343 feet in length and cost of $2.5 million ($33.3 million in 2011 standards).