Ever wondered how the ULTRA Rich travel compared to the rest of us?
Once you get to a certain level of wealth, the way you operate changes. When ultra-rich travel, security, privacy, and convenience take the place of going wherever the road takes you.
Because you have places to be and meetings to attend. And you’ve got to be on time.
And with this comes an entire industry made solely to accommodate the needs of the 1%.
This is how the ultra-rich travel the world. If you don’t feel like reading the article, you can enjoy the video below or watch it on YouTube:
The ability to buy time
When your bank account reaches a certain amount, you unlock a new option: Having the power to buy time.
We’re talking about private jets, of course. Over the years, the private jet industry has grown in a big way. At the beginning of the 2000s, there were about 3,000 private jets just in the United States.
Airbus Corporate Jets analyzed industry data and found that the number had grown to over 14,000 by last year.
This rise in demand is partly due to the fact that the ultra-rich are getting richer and they want privacy and exclusivity. So, what would be a good reason to buy a private jet?
At the end of the day, it all comes down to ease of use and saving time.
If you own a private jet, you can travel on your own time and skip long stops and security checks. You can fly straight to your destination, which will save you time and help you get the most out of your busy life.
Also, owning a private jet gives the ultra-rich a level of privacy and security to their travel that is unmatched. They can hold business meetings and make important decisions without worry.
In this way, a private jet can also be thought of as a tool that helps you get more done in less time.
Private jets and exclusive ultra-rich destinations
One of the best things about private jets is that they can go places that commercial planes can’t.
This is mostly because private jets are smaller and more flexible than commercial planes. This lets them land at smaller airports with shorter runways that larger commercial planes can’t get to.
For example, the commercial airport on the island of St. Barts is known for its short runway and difficult approach. However, private jets can land easily at this exclusive Caribbean destination, giving them direct access to the island’s luxury resorts and pristine beaches.
Another example is Telluride, Colorado. A small town in the middle of nowhere that has a ski resort that is among the best in the world. The closest commercial airport to Telluride is the Montrose Regional Airport, which is about 65 miles (105 km) away.
Private jets, on the other hand, can land directly at Telluride Regional Airport. The Telluride Airport is only 6 miles (10 km) from town. This cuts travel time for the ultra rich who want to get to the slopes as quickly as possible.
In Europe, the ultra-rich and famous often travel to spend the summer on the beautiful French Riviera.
Most commercial flights land at Nice Côte d’Azur International Airport, which is 45 minutes to an hour from popular places like Cannes and Monaco.
But private jets can land at Cannes-Mandelieu Airport, which is much closer to these hotspots and only serves private aviation. Getting to remote or exclusive places isn’t just about saving time and making things easier.
It also gives the ultra-rich a higher level of privacy and safety. They can avoid the paparazzi and keep a low profile while traveling by flying straight to their destination.
So yes, once you get to a certain number, having a private jet can seem like a no-brainer. Until the next generation of AI invents teleportation, flying on a private jet will continue to be the absolute fastest way to get from A to B.
So, how much does it cost to air travel like the Ultra Rich?
Owning a private jet means more than just buying the plane; it’s a whole way of life with a lot of responsibilities and costs.
Maintenance is one of the most important costs that come with owning a private jet. These jets need to be checked and fixed up on a regular basis to make sure they stay in perfect shape.
Depending on the size and age of the plane, the cost of maintenance can range from $500,000 to $2 million per year.
Also, people who own private jets have to think about airport fees and taxes. Landing fees depend on the airport, but for bigger planes, they can be as high as $10,000 per landing.
You also have to pay for space in a hangar to store your jets when they are not being used. Depending on where the airport is and how big the hangar is, this can cost anywhere from $4,000 to $40,000 per month.
Another big expense is running the jet.
This includes hiring a professional crew like pilots and flight attendants, as well as paying for fuel, insurance, and food. All of these costs can easily add up to millions of dollars a year, which makes owning a private jet a very expensive thing to do.
We haven’t even started talking about how much all of this stuff costs.
Some of the most expensive private jets on the market can cost as much as $600 million.
Prince Alwaleed bin Talal, a member of the Saudi royal family, owns an Airbus A380, which is an example of this kind of jet.
His custom A380 has luxurious features like a concert hall, a Turkish bath, and a place to park his Rolls-Royce. Now, this is what we call ultra-rich travel!
Another favorite among the rich is the Gulfstream G700. This ultra-long-range jet costs a cool $75 million and has a large and stylish interior that can be customized to include a master suite, conference room, and even a full-sized kitchen.
When you have your own plane, you also need your own airport.
The ultra-rich only use the Teterboro Airport in New Jersey for their private flights. Celebrities like Beyoncé and Jay-Z are known to use the airport often.
Private jets are usually used for long-distance flights and international travel. However, there have been times when the very rich have used them for very short trips.
In 2018, Elon Musk was criticized for taking a 20-minute flight from Los Angeles to his home in Bel Air on a private jet. Even though the distance between these two places is only about 12 miles (19 km)! But Musk chose to fly instead of dealing with the notoriously bad traffic in LA.
However, when speed and efficiency are not concerns, what do you do?
Well, you buy a superyacht, of course.
Superyachts – The ultra-rich way of sea travel
One of the best things about luxury superyachts is that they can be customized in ways that other boats can’t. Superyachts can be changed to fit the needs and wants of their owners.
This can include a wide array of features. From custom interiors and state-of-the-art entertainment systems to helipads, submarine docks, and even ice-skating rinks.
Also, superyachts offer a level of privacy and exclusivity. With a dedicated crew and the power to choose who comes on board, the ultra-rich enjoy their travels without unwanted attention.
One of the best things about superyachts is that they can go to remote and exclusive places that are usually off-limits to commercial ships.
This includes pristine beaches, hidden coves, and private islands, so the ultra-rich can enjoy a truly unique and exclusive travel experience.
Let’s go on a tour of what an ultra-rich person’s typical superyacht schedule looks like
Our trip starts in January when the very wealthy go to the Caribbean to get away from the cold.
They might go to the annual Loro Piana Caribbean Superyacht Regatta in the British Virgin Islands. Here, luxurious superyachts race through the beautiful turquoise waters in a thrilling race.
As spring gets closer, it’s time to set sail for the Mediterranean. And in May, the famous Cannes Film Festival brings a lot of superyachts to the beautiful French Riviera.
Here, the very rich travel out with Hollywood A-listers and international movie stars at private parties and screenings, which are often held on their superyachts.
After the Cannes Film Festival, everyone heads to Monaco in late May for the famous Monaco Grand Prix. The owners of superyachts get the best spots in Port Hercules, so they can watch the Formula 1 races from the front row.
The event is known for its fancy parties, big celebrations, and chances to see famous people.
During the summer, the very wealthy continue to travel around the Mediterranean. They make the rounds in places like Porto Cervo in Sardinia, St. Tropez in France, and the beautiful Spanish islands of Ibiza and Mallorca.
These places are known for their beautiful beaches, top-notch restaurants, and lively nightlife.
As fall comes closer, it’s time to go to the Fort Lauderdale International Boat Show in Florida. This event, which takes place in October, shows off the newest trends in superyacht design, technology, and luxury.
It’s a great chance for the very wealthy to meet industry leaders, look at new superyachts for sale, and find out about the newest trends in luxury sea travel.
The very rich might sail to the Maldives or Seychelles to get some winter sun at the end of the year.
The price tag of superyachts
Now, the price of a superyacht is definitely a big investment, but the real cost of owning one is much higher than the initial payment.
In fact, when you add up all the costs, it becomes quite obscene. From maintenance, operation, and staffing, owning a superyacht can be more expensive than a yacht itself.
A superyacht’s annual maintenance costs can be anywhere from 5% to 10% of how much it cost to buy.
For example, if a superyacht costs $100 million, the owner can expect to spend between $5 million and $10 million a year just on maintenance.
Owners of superyachts also have to pay a lot for operating costs. This includes fuel, which, depending on the size of the yacht, can cost hundreds of thousands of dollars per year.
We all know that yachts don’t use fuel very well.
In fact, just the gas for a trip from the south of France to the Caribbean is likely to cost more than $100,000.
So, if you don’t want to be stuck in the middle of the ocean, it’s a good idea to have fuel worth like $500,000, just in case.
Also, owners have to pay for insurance, which can cost anywhere from 0.5% to 1.5% of the yacht’s value per year. Berth fees can also cost up to $500,000 per year for prime locations like Monaco or St. Tropez.
Staffing a superyacht is important if you want to give the ultra-rich the level of service and luxury they expect
A typical superyacht has a crew of 20 to 50 people, including a captain, engineers, chefs, and stewardesses. A superyacht crew’s salaries, benefits, and training can easily cost millions of dollars a year.
The crazy thing is that you don’t work from 9 to 5 on a superyacht. After your shift, you don’t go home. As a member of the crew, the yacht is your home for the time being.
Also, putting together and customizing a superyacht can be very expensive. The cost of the vessel can go up by millions of dollars if it has high-end furniture, art, and entertainment systems.
In some cases, the cost of customizing a yacht can be more than what it cost to buy in the first place. People often think of billionaires’ superyachts as the ultimate sign of their wealth, success, and ambition.
Even though superyacht ownership is expensive and bad for the environment, there are many reasons why billionaires buy these expensive boats and how they can justify the cost.
First and foremost, superyachts offer a level of privacy and exclusivity that you can’t find anywhere else
Billionaires value their privacy. And a superyacht gives them a place to get away from the public eye and relax away from the stress of their daily lives.
They can have private parties, entertain important people, or just hang out with their families. Another amazing thing about owning a superyacht is that you can go to remote and exclusive places that are off-limits to commercial ships.
This lets billionaires visit the world’s most beautiful and untouched places, away from the most popular tourist spots. Traveling on a superyacht is a unique experience that is hard to get any other way.
Moreover, a superyacht can become more than traveling for the ultra-rich. Some billionaires see owning a superyacht as a smart way to invest their money.
A superyacht that is well-kept and in high demand can keep its value over time and, in some cases, even grow in value.
Billionaires can also make money by renting out their superyachts to other wealthy people. This helps them pay for some of the costs of running and maintaining the boats.
Some people think that the fun and happiness they get from owning a superyacht are worth the cost. These boats offer a unique mix of luxury, adventure, and freedom that is hard to find anywhere else.
Those who can afford it can travel the world on their own private floating palace, which is a reward in and of itself. But besides private jets and superyachts, you need one extra thing to complete the billionaire travel experience.
The Ultra-rich experience – Five-star travel concierge services
These are the best option for people who have a lot of money and want the best experiences and services possible. These high-end services cater to their wealthy clients’ every whim and wish, making sure that their trips are truly unforgettable.
Let’s look at the most important parts of five-star travel concierge services and how they cater to the market for luxury travel:
Personalization and customization
At the heart of five-star travel concierge services is the promise of creating experiences that feel personal to each client’s tastes, interests, and goals.
From curated itineraries and bespoke experiences to personalized recommendations and exclusive access; every part of the trip meets and exceeds the expectations of the most discerning travelers. This is the difference between regular travel and ultra-rich travel.
Access and exclusivity
They give you access to unique and sought-after experiences that you can’t get anywhere else.
These can include private viewings at world-famous museums or behind-the-scenes tours of famous landmarks. Throw in some reservations at Michelin-starred restaurants with months-long waiting lists to sweeten the deal.
Five-star concierge services can open doors that are usually closed to the general public. They achieve this by using their large networks and connections in the business world.
Expertise and knowledge
Five-star travel concierge services have a team of travel experts for the ultra-rich.
These experts work closely with clients to find out what they want and give them expert advice.
When it comes to high-end travel, even the smallest details can make a big difference. Five-star travel concierge services work hard to make sure that their clients’ trips go smoothly.
This can include setting up private transfers, working with hotels and resorts to meet special requests, and handling changes or emergencies at the last minute.
They take care of the logistics. Their clients fully enjoy their trips without having to worry about the little things.
Personal Touch and Attention to Detail
Five-star travel concierge services have great attention to detail and personal touch.
Clients can expect thoughtful surprises from their travel consultants. Maybe a bottle of their favorite wine in their hotel room, personalized gifts, or even a handwritten note.
It’s a way to live in a way that’s comfortable and predictable, without any surprises you don’t want. Which is something that can be both good and bad.
A train trip from Europe to China is definitely going to take longer than a private jet flight. But you can’t buy the people you meet and the stories you hear along the way.
This is how the ultra-rich travel. So, if you want to sail around the world in a superyacht, you’d better get to work. See you next time!
