Private Jets of the Rich

These days having a private jet has become so affordable that many a millionaire are able to purchase such a luxury. So if millionaires can afford it, what does billionaires do? They buy a Boeing 747-8 or an Airbus 380, pricing $280 million and $320 million respectively.

In 1996, when the first Boeing was made available as a private jet, the $30 million Boeing Business Jet(a reconfigured 737) was the ultimate in spaciousness and luxury. Now the 737 pales in comparison to some of the latest luxury lifts.

The Boeing 747-8 came into use in 2010, while the Airbus 380 made its first commercial flight in 2007. They were well worth the wait for the billionaires. Just to customize these planes with things like special paneling, a movie screen, and a jacuzzi, costs around $20 million.

Buyers of these massive private jets are likely to already own several other smaller private jets. Out of the four billionaires who bought the Boeing 747-8, two were previous owners of smaller Boeing Business Jets, and their motivation if to get the 'latest and greatest', according to Steven Hill, president of Boeing Business Jet.

Owners of Boeing aircraft include Russian oil tycoon Roman Abromavic and Google guys Larry Page and Serge Brin. Other billionaire private jet owners are Sergio Mantegazza (Falcon 900), Philip Green and Lakshmi Mittal (who both own Gulfstream G550s).

The most luxurious jet out there is probably the Airbus 380 though. For one thing it has plenty of room. The one thing an owner could not do in a smaller private jet was to stand up, but the Airbus 380 has plenty of head room.

As long as an owner adheres to regulations and does not rent out the plane to third parties, the potential for interior design is great. According to Greg Thomas, CEO of Privateair, there are some extraordinary interiors in the jets his company has sold, especially the owners from the Gulf States royalty. One royal family put a Webcam on the planes exterior to enjoy clouds and rainbows on a 8-by-4-foot screen inside the plane.

No need for a window seat then, is there?

Price: $320 million

This 'flying palace' was bought by a billionaire from oil-rich Saudi-Arabia, Prince Alwaleed bin Talal, and that was before fitting it with bedrooms, a movie theater, jacuzzi, etc. The $320 million was mere spending money for the prince, as he was at the time the 13th richest person in the world with around $20 billion in assets. The European Airbus A380 is a double-story, wide-body, four-engine aircraft that is as tall as a seven-story building. The football field wide wings is big enough to each hold 70 cars, while the airline is capable of carrying 853 passengers in an all economy class configuration. It can travel 15200 km without refueling, about the distance from New York to Hong Kong, and has a top speed of 900kph. It was developed by the European corporation Airbus.

Price: $280 million

Four people have already bought this aircraft as a private jet. The purchase price will only get you the basics though and to customize it will cost about another $20 million. This wide-body airliner was manufactured by Boeing Commercial Airlines and is the largest commercial airline made in the Unites States, as well as the longest passenger airliner in the world.

Price: $118 million-$165 million

Chelsea football club owner Roman Abromavic and Google founders Larry Page and Serge Brin bought this aircraft. It has a relatively low operating cost to other similar craft and carries between 181-375 passengers. It has a range of 9400 - 12200 km.

Price: $68 million

Also known as the 737-900ER, this is the classic business jet that originated the concept of converting commercial jets in 1996. This is the latest version and is one of the top tech crafts with systems such as Head-Up Display, Global Positioning Landing and Vertical Situation Display.

Price: $65 million - plus

This Airbus Corporate Jet is used by Privateair to fly several of its high net worth customers. Heads of state such as French officials and the president of Brazil uses this craft as their main form of transportation. 

Price: $50 million

The Gulfstream G550 business jet was purchased by London billionaire Lakshmi Mittal and is also used by the US Air Force. It has the longest flight range in its class of 6750 miles and can seat 14-19 passengers.

Price: $45 million

This corporate jet is both ultra-long and super fast with a top speed of almost 950 kph. It makes a flight halfway around the world seem almost like a breeze. It has a spacious cabin at the same time.

Price: $42.95 million

The Embraer Lineage 1000 is a variant of the Embraer 190 regional jet, and did its first flight in October 2007. It has comfortable seating for 15 passengers. When it first came out the company called it 'the most accomplished and luxurious business jet ever brought to market'.

Sources:

http://www.forbes.com/2007/03/06/jets-private-travel-forbeslife_07billionaires_cz_ls_0308jets_slide_6.html?thisSpeed=undefined

http://english.pravda.ru/news/society/12-11-2007/100711-luxury_plane-0

http://en.wikipedia.org/wiki/Airbus_A380