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THE WEALTH REPORT
Robert Frank looks at the lives and culture of the wealthy.
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< Renting the Lifestyles of the Rich -- Previous | SEE ALL POSTS FROM THIS BLOG |
May 9, 2008, 12:13 pm
The World’s Largest Private Jet — Take Two?
Prince Prince Al-Waleed bin Talal may have been the first buyer of a private Airbus A380, but he won’t be the only one.
An Airbus A380 (Credit: Rolls-Royce PLC)
According to an item from the Kampala Monitor posted on AllAfrica.com, a Ugandan tycoon named Michael Ezra is in talks with Airbus about buying an A380 for use as his private jet.
David Velupillai of Airbus told the site that “We have met with Michael, have had discussions with him and come to a preliminary agreement.”
Airbus confirmed to the Journal that it’s in discussions with Mr. Ezra but it’s unclear whether they’ll actually reach a deal. A380s normally sell for about $300 million, but maybe Mr. Ezra is getting a deal on the leather interior and rust-proofing. He would likely get the plane after 2010, and would then have to spend additional time (and an esimated $150 million) tarting up the interior.
As Wealth Report readers know, the A380, with 6,460 square feet of floor space, is the ultimate airborne status symbol. The commercial version can be configured to carry 853 passengers, but billionaires prefer to fill the space with spas, theaters, and car garages.
Michael Ezra (michaelezra.name)
Mr. Ezra, according to the Monitor article, is planning “a conference room for 12 people, a karaoke room, a movie room, medical center, four VIP bedrooms, another four executive bedrooms as well as a spa.”
Who is Michael Ezra? I have no clue, other than the few clips that describe him as a sports magnate, soccer impresario and a generous Ugandan. On his Web site, Mr. Ezra says that “From my experiences while traveling, usually on business, I constantly ask myself how I can help Uganda portray a more positive and welcoming image? I’ll let my deeds do the talking.”
His deeds seem to involve a lot flashy spending. He’s famous for landing on the playing field in a private chopper, and recently won an auction to buy a one-of-a-kind Mont Blanc watch, paying $250,000, or four times as much as the minimum bid. (The money went to a charity run by the United Arab Emirates.)
Purchasing an A380 would bring him even more attention. There’s only one problem: it’s unlikely that Kampala has the runways and airport equipment to handle one.
(Thanks to my Brussels-based colleague Dan Michaels for contributing to this post.)
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“Prince Prince Al-Waleed bin Talal?” Is that some sort of stage name?
Comment by Larry - May 9, 2008 at 12:25 pm
It’s good to see that American billionaires, who can spend with the best of them in some categories, aren’t lining up get these symbols of waste. I’m not sure what Mr. Ezra does, but in the absence of a useful product or process innovation, I have to lump him in with the Saudi princes and Russian tycoons, people who took their wealth rather than earning it.
Comment by HG - May 9, 2008 at 12:33 pm
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The Wealth Report is a daily blog focused on the lives and culture of the wealthy. The blog is written by Robert Frank, a senior writer for the Wall Street Journal and the author of "Richistan: A Journey Through the American Wealth Boom and the Lives of the New Rich," published in June. Criticisms, comments and tips can be sent to:wealth@wsj.com. Subscribe
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