VIDEO: Australian Billionaire to Build TITANIC 2 Luxury Liner

More than one hundred years since the sinking of the Titanic, an Austrailian billionaire has announced that he has already started construction on the Titantic 2, a luxury replica of the doomed oceanliner which will be ready to set sail in 2015. Below, Today show reporter Stephanie Gosk looked into the story and asked viewers, "Would you take a ride?"

The 1997 American Epic romantic disaster film TITANIC was directed, written, co-produced, and co-edited by James Cameron. A fictionalized account of the sinking of the RMS Titanic, it starred Leonardo DiCaprio and Kate Winslet as members of different social classes who fall in love aboard the ship during its ill-fated maiden voyage. At the time, it was the most expensive film ever made, with an estimated budget of $200 million.

Upon its release on December 19, 1997, the film achieved critical and commercial success. Nominated for fourteen Academy Awards, it won eleven, including the awards for Best Picture and Best Director, tying Ben Hur (1959) for most Oscars won by a single film. With an initial worldwide gross of over $1.84 billion, it was the first film to reach the billion-dollar mark. It remained the highest-grossing film of all time since 1998, until Cameron's 2009 film Avatar surpassed its gross in 2010. A 3D version of the film, released on April 4, 2012 (often billed as Titanic 3D), to commemorate the centenary of the sinking of the ship, earned it an additional $343.6 million worldwide, which pushed Titanic's worldwide total to $2.18 billion.