FEAR & GREED | Business News Q+A: A $20 billion shipwreck and the Wild West of investing
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Mar 26, 2026 
Stefan von Imhoff, co-founder and CEO of Alts.co and maritime recovery specialist. He explains how shipwreck recovery is moving from treasure hunts to structured, investable operations. He covers the $20 billion San Jose saga, archival research plus AI and robotics, negotiating with governments, staging recovery operations, and the high legal and technical risks.
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Many Wrecks Contain Real Precious Metals
- Maritime recovery has many valuable wrecks including gold, silver and copper rather than just mythical treasure chests.
- Stefan Von Imhof highlights the San Jose as the "holy grail" with an estimated $20 billion of metals and artifacts aboard, attracting multiple national claims.
San Jose Shows What Happens Without Government Deals
- The San Jose recovery became a legal and diplomatic mess because the recovery team failed to secure clear agreements beforehand.
- Stefan Von Imhof describes competing claims from Colombia, Spain and indigenous groups leading to litigation in The Hague.
Do Deep Historical Research First
- Do extensive historical research before selecting a wreck target to confirm manifests and likely value.
- Stefan Von Imhof notes clients employ full-time historians to verify records and avoid costly mistakes before committing to recovery.