Why do millionaires buy private jets?

Perception of safety. Managing risk is a common skill for the wealthy and often a high-end traveller will consider private travel to be safer than a commercial offering. The report claimed that the two dominant factors are the age of the plane and the visual condition of both its exterior and cabin.



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Mukesh Ambani: Boeing Business Jet 2, $73 million. Elon Musk; Jeff Bezos; Sergey Brin; Larry Page: Gulfstream G650 ER, $70 million each. Bill Gates: Bombardier 8000, $66 million.

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Yes, civilians can buy fighter jets as long as the plane has been demilitarized, which means that all weapons and radar technology have been removed.

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On average, business jets up to 25 years old may only have about 12,000 hours on them, and when they're well-maintained aircraft can easily last for 25,000 hours.

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Finally, private planes are often based at private airstrips, which are not subject to the same level of security as commercial airports. That said, the TSA is not powerless when it comes to private planes. If they have reason to believe that a private plane is carrying a security risk, they can search the plane.

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The High Life Amidst Austerity. At the heart of this dichotomy was Meta CEO Mark Zuckerberg's private jet travel. Despite the company's rigorous cost-saving measures, Zuckerberg's personal jet expenses soared to nearly $2.3 million in 2022, outstripping the $1.8 million spent in 2020 and the $1.6 million in 2021.

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