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Billionaire defends Titanic II plan

An Australian billionaire today insisted his plans to build a replica Titanic are not motivated by money.

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Titanic II 'not a publicity stunt'

Clive Palmer talks to the press at The Ritz in London Credit: PA Wire

An Australian billionaire has today insisted his plans to build a replica Titanic are not motivated by money.

Mining magnate Professor Clive Palmer, spoke at a press conference at The Ritz earlier, saying "Money wasn't my primary consideration for this."

He then joked with journalists: "But it looks like, unfortunately, I'll make a lot of money out of it!"

The Queensland businessman's plans have been questioned by critics, who say the Titanic II project will never be a reality and Prof Palmer is simply trying to create headlines.

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