Billionaire Private Jets

Are billionaire private jets a decadent symbol of the super wealthy or simply the way that someone with vast money reserves puts back into the community. Think I'm stupid? Then read on.

Any strong economy depends on consumption, if consumers don't consume, then business don't sell, and businesses that don't sell don't employ people and so they don't have enough money to live.

It's also a sad fact they 95% of wealth is held by less than 5% of the population. The majority of us are workers who scrape by form paycheck to paycheck. Take for example a factory worker who earns say $30,000 per year. Chances are he spends nearly all that money on just living and supporting his family. The reality is that most western economies rely on the vast majority of us to do just that - work to consume. Now a factory worker would probably spend $10,000 on his car that he needs to get to and from work - that's a full 30% of his annual income.

Compare that to the billionaire. He probably has many business across the country or internationally to make his money. Just like the factory worker, the billionaire also needs to travel to his business. Now even if we take the most expensive private jet the Airbus 380 which runs out at about $300 million, then just like his factory worker the billionaire is spending about 30% of his wealth on business travel as well.

This is not a tongue in cheek commentary. By spending that $300 million, the billionaire is consuming in the same proportion to the factory worker, and so he is creating jobs, and opportunities for the likes of you and me with his expenditure and the subsequent downline purchases that business will create. So rather than pillorying the billionaire for such an opulent purpose, I for one would much rather see him do that than store up his money in the bank where it benefits no one but himself.

Take for example Joseph Lau, the Hong Kong property billionaire, who has ordered a Boeing 787 Dreamliner worth about $153 million as a private VIP jet. Boeing has received seven orders, including the latest from Mr Lau, for Dreamliners as VIP aircraft or business jets. Frankly I think that this is great. People such as Mr Lau spending money on private jets means jobs and profits and Boing, as well as jobs and profits for their suppliers, and so and so on.

Not all private jest are this expensive, but then again not all people are billionaires. Just a simple Lear jet for your run of the mill millionaire is just as valuable as the billionaire private jet. So rather than criticising through jealousy think of the opportunities that may be creating for you.

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