Colombia's $20B Sunken Treasure: The Holy Grail of Shipwrecks Resurfaces
Colombia is aiming to expedite the recovery of up to $20 billion worth of sunken treasure from the Spanish galleon San José, known as the "Holy Grail of shipwrecks," which sank off the coast of Colombia in 1708. The treasure, including gold, silver, and emeralds, lies about 700 feet below the water's surface. A U.S. company, Glocca Morra (now Sea Search Armada), claims to have discovered the treasure in 1981 and is suing the Colombian government for half of its estimated value. The ownership of the treasure has been a point of contention, with conflicting claims and lawsuits over the years. Colombian President Gustavo Petro has instructed officials to accelerate the recovery process before his term ends in 2026.