There’s a video that’s done its rounds on social media. It’s about people posting about having luxury time on private jets, and how it shows that most people do not understand the value of flying in a private jet. Here’s the video:
In his book, “Made in America”, Sam Walton describes his reason for purchasing a private plane. Sam Walton, of course, is the founder of Walmart. Walmart had been opening stores all over America. Walmart was especially instrumental in stimulating local businesses in small towns because they had been opening stores in these small towns.
Now, Sam Walton didn’t buy a luxury private jet. He bought a small aeroplane that he flew himself. But his reasons are in line with what’s been shared in the video: he was able to get to these small towns very quickly and do the business that he needed to do. Without the plane, many of these stores would have taken much much longer to get up and running.
Warren Buffet, one of the richest men in the world, also owns a private jet. Warren Buffet, rich as he is, has been known for being frugal in his spending habits. When he purchased his private jet, he called it the “Indefensible”. He was persuaded by one of his friends to purchase the jet, and being an advocate for frugal living, and a critique of luxury spending, he felt that he couldn’t justify purchasing the private jet.
Years later, understanding the value of flying private, Buffet renamed the aircraft, “The Indispensable”.
I’ve been privileged to receive some mentoring from the CEO of a leading mining company in South Africa. At the end of a call that we had, he said to me, “I look forward to having you invite me on a flight in your private jet one day.”
There are two ways of getting there. The one way is to make a lot of money, and then spoil yourself and some friends with a private jet flight. The other way is to become so valuable to the people you serve in your business, that travelling in a private jet becomes a necessity. One could argue about which of these routes is the harder one. The latter is certainly the more sustainable one, and certainly, the route that the truly wealthy have taken.
