Warren Buffett Private Jet Company Source Bing.com
Warren Buffett, one of the richest men in the world, owns a private jet company called NetJets. NetJets is a company that provides fractional ownership of private jets to individuals and businesses. Fractional ownership means that a person or company can own a share of a private jet and use it whenever they need it. NetJets takes care of all the maintenance, scheduling, and staffing of the jets, making it a convenient and hassle-free option for those who need to travel frequently.
The History of NetJets
Netjets History Source Bing.com
NetJets was founded in 1964 by Richard Santulli, who later sold the company to Berkshire Hathaway, a conglomerate owned by Warren Buffett. Since then, NetJets has become the world’s largest private jet company, with a fleet of over 700 aircraft and around 7,000 owners.
The idea of fractional ownership of private jets was revolutionary when NetJets was first founded. It allowed individuals and businesses to enjoy the benefits of owning a private jet without having to bear the entire cost of ownership. It also provided a more efficient way of using private jets, as multiple owners could share the same aircraft.
The Benefits of Using NetJets
Benefits Of Using Netjets Source Bing.com
NetJets offers many benefits to its owners, including:
- Access to a fleet of over 700 aircraft, including jets, turboprops, and helicopters
- 24/7 customer service and support
- Flexible scheduling and on-demand access to aircraft
- Guaranteed availability of aircraft with as little as 10 hours’ notice
- Access to exclusive benefits and perks, such as luxury accommodations and event invitations
NetJets also takes care of all the maintenance, cleaning, and staffing of the aircraft, making it a convenient and hassle-free option for those who need to travel frequently.
The Cost of Using NetJets
Cost Of Using Netjets Source Bing.com
As with any private jet service, using NetJets can be expensive. The cost of fractional ownership depends on the size and type of aircraft, as well as the number of hours flown per year. According to Forbes, the average cost of owning a share of a NetJets aircraft is around $1.4 million, with additional annual fees ranging from $200,000 to $500,000.
However, for those who need to travel frequently and value the convenience and luxury of private jet travel, the cost may be worth it.
The Impact of NetJets on the Private Jet Industry
Impact Of Netjets Source Bing.com
NetJets has had a significant impact on the private jet industry, revolutionizing the way people think about private jet travel. It has made private jet travel more accessible and affordable, and has set a new standard for luxury and convenience in air travel.
NetJets has also inspired other private jet companies to adopt the fractional ownership model, creating more competition and driving innovation in the industry.
Conclusion
Warren Buffett’s private jet company, NetJets, has revolutionized the private jet industry by providing fractional ownership of private jets to individuals and businesses. With a fleet of over 700 aircraft and around 7,000 owners, NetJets offers convenient and hassle-free access to luxury air travel. While it can be expensive, for those who value the benefits of private jet travel, the cost may be worth it.