Money Moguls

Billionaire’s Private Jets - $280 + Million

I thought people who drove expensive cars like Porsche, Lamborghini, Aston Martin, etc were the rich. These cars run in the $100,000 - $300,000 range. Then I got to thinking…what about an airplane? Not that’s really expensive! My dad was an aircraft mechanic and I knew what some of the planes cost. Some of the nicer prop planes went for $200,000 to $400,000. Now the small private jets were in the $2 Million to $5 million range. I knew the owner of the Boston Celtics back in the 70’s and he had a Cessna Citation ($2.5 million). He was a multi-millionaire. What do Billionaire’s fly?

Believe it or not, they buy bigger and more luxurious airplanes. How about a Boeing 747-8 or an Airbus A380? These “personal use” airline jets are ultra luxury and will set you back $280 - $300 million.

Boeing introduced their “personal use” versions of the commercial airline jets in 1996. The typical 737 business jet would retail for $30 million. These do not even come close to todays 747-8 or A380 luxury airline jets!

Boeing’s 747-8 luxury private jets will not be available until 2010 and the Airbus A380 sometime in 2015. Better get your order in now! Super luxury options are endless and can include Mahogany paneling, gold plated fixtures, Jacuzzis or perhaps a movie theater. These types of options would add a mere $20 million to your total.

Most private jet buyers own several jets. Some just have to have the latest and greatest, so they upgrade frequently. Private jets actually hold their values quite well, so trade-ins are welcome.

So who owns these huge and expensive luxury jets?

• Roman Abromavich - Russian oil tycoon
• Larry Page and Serge Brin - Google founders
• Sergio Mantegazza - gambling/leisure
• Philip Green - British billionaire
• Lakshmi Mittal - India steel billionaire

The reason for choosing a “personal use” airline jet in lieu of a smaller corporate jet is to increase the available room for entertaining. You can also stand up in an airline jet but definitely not in a small corporate jet. Well that certainly is a good reason to spend an extra $250 million!

According to regulation, you can customize a jet anyway you wish as long as you don’t rent it to third parties. Otherwise safety regulations take precedence. The most extravagant interiors are those of the planes belonging to Monarchs. One royal family had a webcam installed outside the plane and projected the image onto a 8 foot by 4 foot screen. Nice view of the clouds huh?