Billionaire Paul Allen's yacht allegedly hit protected coral reefs in the Cayman Islands. The Microsoft co-founder's yacht, The Tatoosh, allegedly hit protected reefs in the West Bay Replenishment Zone with its anchor and damaged 80 percent of the corals, the Department of Environment in the Cayman Islands reported, according to CNN Money.

The anchor destroyed around 14,000 square feet (1,300 square meters) of reef in the islands' West Bay area.

Allen was not aboard the yacht during the encounter.

A statement from Allen's company, Vulcan, said that the port officials of the area were directing the yacht when the incident occurred.

"When its crew was alerted by a diver that her anchor chain may have impacted coral in the area, the crew promptly, and on their own accord, relocated their position to ensure the reef was protected," the statement said, according to the New York Daily News.

"Vulcan and the ship's crew are actively and cooperatively working with local authorities to determine the details of what happened. An investigation by local authorities is ongoing," the statement added.

Scott Slaybaugh, the Deputy Director for the Cayman Islands Department of Environment, noted that the billionaire could face a fine up to $600,000.

"It's not going to depend at all on who's vessel it is, or what assets they have," Slaybaugh said, according to the Telegraph. "It's the value of the reef and that's what we take seriously, so the consequence would be the same for anyone."

In 2015, Allen donated almost $4 million in funding the research in reversing the rapid decline of coral reefs, according to the Vulcan.

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