, 2022-12-09 13:00:00
The wealthiest and most famous people in the world have long favored the conveniences of private jet travel, and among younger generations, owning your own jet has become the ultimate status symbol.
With an ever-growing number of choices, more customization options, and greater public scrutiny due to environmental concerns, selecting a private jet has become one of the biggest—and priciest—decisions a mogul can make.
While private jet purchases occasionally make the news—pop superstar Beyoncé famously celebrated her husband Jay-Z’s first Father’s Day by gifting him a $40 million Bombardier Challenger 850, complete with a cream leather living room, kitchen, bedroom, and two bathrooms—most acquisitions are shrouded in secrecy.
Megan Wolf, chief operating officer of Flexjet, a Richmond Heights, Ohio-based provider of fractional ownership aircraft, leasing, and jet card services, has seen interest spike in recent years.
“The biggest challenge facing ultra-high-net-worth people right now is the lack of aircraft available for purchase,” Wolf says. “After the initial lockdowns, private jet activity has soared since the pandemic started.”
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