{"id":1627,"date":"2026-06-23T15:35:41","date_gmt":"2026-06-23T15:35:41","guid":{"rendered":"https:\/\/americanhomejournals.com\/?p=1627"},"modified":"2026-06-23T15:35:41","modified_gmt":"2026-06-23T15:35:41","slug":"an-insane-wealth-boom-is-changing-how-people-buy-private-jets-ceo-says","status":"publish","type":"post","link":"https:\/\/americanhomejournals.com\/?p=1627","title":{"rendered":"An ‘insane’ wealth boom is changing how people buy private jets, CEO says"},"content":{"rendered":"
\n

A new wave of wealth is already transforming the private jet market \u2014 and first-time buyers are going big off the bat, according to one aviation CEO.<\/p>\n

Read more John C. Reilly rejects Elon Musk\u2019s warning about empathy: \u2018Empathy is a superpower\u2019<\/a><\/p>\n

Israel Slodowitz, the founder and CEO of private aviation company Craft, said during a recent episode of the “Sourcery with Molly O’Shea” podcast that these customers are increasingly bypassing the traditional entry point into private flying.<\/p>\n

“We’re seeing people entering the market buying bigger airplanes,” Slodowitz said, adding that newcomers who once would have started by chartering flights or purchasing a smaller aircraft are gravitating toward larger, more expensive jets from the outset.<\/p>\n

More buyers, he said, are opting for super-midsize aircraft such as the Bombardier Challenger 350 or even larger heavy jets like the Gulfstream G450 \u2014 categories where aircraft can cost in the tens of millions of dollars range.<\/p>\n

“They’re going straight towards buying or even chartering the latest and greatest,” Slodowitz said.<\/p>\n

The trend is being fueled by a new generation of wealth stemming from the AI and technology sectors, said Slodowitz. He pointed to Elon Musk’s rocket company SpaceX, which made its historic Nasdaq debut earlier this month, and ChatGPT-maker OpenAI’s anticipated IPO.<\/p>\n

“We’re seeing like not just an insane wealth creation moment \u2014 probably the largest we’ve seen in the history of humankind \u2014 but we’re also seeing a shift in how people spend their wealth and their priorities,” Slodowitz said, explaining it’s “completely new money.”<\/p>\n

Read more Older Americans debate AI\u2019s risks and rewards as retirement nears<\/a><\/p>\n

“So there’s like this massive tsunami that’s hitting, and we’re seeing it in our business; we’re seeing it in the preferences of what people are choosing, and how they’re accessing private aviation,” the CEO added.<\/p>\n

Slodowitz, whose company would stand to benefit from increased spending on private jets, said he expects the population of PJ users to more than double, creating a “huge cataclysmic effect” on the industry that could lead to a jet shortage as demand outpaces supply.<\/p>\n

Slodowitz did not respond to a request by Business Insider for further comment.<\/p>\n

While airplanes are generally considered depreciating assets, Slodowitz said that’s starting to change.<\/p>\n

“They don’t go up in value normally, but we’re seeing them go up in value for the first time almost ever, especially in the higher end of the market,” he said. “So that small little change in wealth, which I think is actually huge, is something this industry is not at all ready for.”<\/p>\n

“There’s going to be a lot of adjustment and price fluctuation and uncertainty until the new wave sort of takes effect,” he added.<\/p>\n

Read more Are you a consultant? Tell us how much you\u2019re spending on AI these days.<\/a><\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"

The founder and CEO of private jet company Craft said customers are increasingly bypassing the traditional entry point into private flying.<\/p>\n","protected":false},"author":1,"featured_media":1626,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[],"class_list":["post-1627","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-transportation"],"yoast_head":"\nAn 'insane' wealth boom is changing how people buy private jets, CEO says - American home journals<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/americanhomejournals.com\/?p=1627\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"An 'insane' wealth boom is changing how people buy private jets, CEO says - 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