With a fleet of large and long-range aircraft and a jet card price which likely starts at about $600,000 (Vista Jet’s program requires 50 hours of flying and hourly private jet cost estimated to start at $12,000) you’re probably talking about different missions than say the Pilatus PC-12 or a King Air 350 user. But who are VistaJet’s customers? As part of a report on who flies privately produced jointly with Wealth-X, a research firm specializing in Ultra High Net Worth families, there is some interesting information.
In terms of how VistaJet’s customers make their money, finance, banking and investment compose 21%. There’s a huge drop off to the second spot with executives from industrial conglomerates making up 7%. The technology sector adds 6%, followed by real estate and manufacturing at 5% each. Beyond that, via Instagram, we’ve spotted tennis pro Novak Djokovic, producer DJ Khaled, master chef Nobuyuki Matsuhisa and supermodel Claudia Schiffer.
In terms of hobbies, sports took the top spot at 41% followed by philanthropy at 39%, then politics at 19% with 18% saying art and 17% selecting the outdoors. However, if this all makes you think the VistaJet crowd is cut from a different cloth than folks on an Embraer Phenom 300, we’re not so sure. Over half of its jet membership customers also own planes, but use VistaJet when their own aircraft are in for maintenance or their planes are right for the mission.
The report notes that jet cards have become “very popular” in part because many enable customers to vary the aircraft they need based on mission. The report also reveals the average age of its customers is 61 and 94% are men, with 68% completely self-made and a further 23% folks who inherited a business but then were able to supercharge growth. About 40% of wealth is via private holdings, 33% is public and 24% in cash, not bad when one considers their average net worth is $1.1 billion.
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