When it comes to chartering private jets, it goes without saying that you need a little money in the bank to be able to do so. That said, recent modernisation of the private jet charter sector means that now the service is more accessible than ever before. So, what type of millionaire charters a private jet?
3 Types of Millionaire
According to research published by the Business Insider website, there are 3 types of millionaire with varying degrees of wealth and differing approaches to how it is accrued. The research was conducted by Thomas Corley and suggests that “savers” make their millions by living below their means in order to save and invest as much surplus cash as possible.
Top executives, meanwhile, become millionaires by receiving stock compensation, on top of their basic pay and it is this that catapults them into the realms of the super rich.
Those who mange to make the most money, however are the entrepreneurs – those who start their own businesses and make huge sacrifices in order to become successful millionaires.
The Top 1%
The very richest individuals in the world transcend being millionaires and are billionaires. These folk are far more likely to own a private jet than to charter one, along with a super yacht, a couple of helicopters and a massive property portfolio.
The savers from Corley’s study are also unlikely to charter a private jet as it does not match their profile as people who live below their means. That leaves successful entrepreneurs and top executives as the most likely type of millionaires to charter private jets.
The Benefits of Chartering a Private Jet
Not only has chartering private jets become more accessible, due to apps that work in a similar way to that used by Uber taxis, there are many other benefits. Besides the more obvious benefits of comfort and privacy, private jets offer convenience.
When you charter a private jet, for example, you don’t have to wait in line at check in and customs and so the airport experience is much quicker. Also, private jets can fly out of smaller airports and so getting to one close by can be easier. Plus, private jets fly direct and so there are no lengthy connecting flight issues.
So, even for “poorer” millionaires chartering a private jet is an option with hidden rewards.