Name was confirmed by a rep at Wally.

Could anyone tell me why anybody would pay 33 Million dollars for this (ugly) boat???

WallyPower was at San Diego, California on July 13, 2014.

There is a picture of it taken in Vancouver harbour on july the 27th. The link is http://forum.skyscraperpage.com/showthread.php?p=6671682

It might be called power, look here,
https://www.facebook.com/WallyMonaco/photos/a.277723718940017.65990.190357347676655/277723765606679/?type=1&theater

Is there any way to find out its name so that I can take it out of the mystery category?

Definitely a Wally yacht.

It looks a little like the Turbinia, the first steam turbine ship that immediately made the Royal Navy obsolete at the Spit Head review, june 26, 1897. http://en.wikipedia.org/wiki/Turbinia

It furiouly looks like this : http://www.wally.com/wally-118/

Looks like Wallypower - http://www.shipspotting.com/gallery/photo.php?lid=751725