ET Insider August 26 2014
More than ever private jet travelers, or elite travelers as we like to call them, are the most lucrative market for luxury brands and service providers. With readers spending $10,000 per hour to fly privately, the over 600,000 readers Elite Traveler reaches each issue provide you a great way to make sure your message is in front of consumers who have the money to be good customers. With our Asia Edition, Elite Traveler Superyachts, our over 60 Elite Traveler Destination Guides at Elitetraveler.com, our global database of private jet owners and our award-winning custom marketing team, we would welcome the opportunity to be of help to you in making sure you get a bigger share of our reader spending.
With a Net Worth of more than $40 trillion, I hope you will agree elite travelers should be a key target for your marketing!
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In this edition:
1. European Central Bank: The Rich Are Getting Richer
2. Burning Man For Elite Travelers
3. Where Can You Find Your Favorite College Basketball Coach? On A Private Jet Of Course
1. European Central Bank: The Rich Are Getting Richer….
New data from the European Central Bank and London School of Economics found calculated wealth of the super-rich has been understated, Bloomberg reports. The research noted there was a lack of real knowledge about the total wealth, with people hiding money in tax havens as well as declining to respond to questionnaires.
Joseph Stiglitz, a Nobel-prize winning economist and author of The Price of Inequality told Bloomberg: “We always suspected there was some low-balling of the top one percent.”
“There’s a growing sense that our system is rigged and unfair,” he said. The inability to gain better access to the amount of wealth means policy makers and economists do not have an understanding of the true wealth divide globally,” a senior mathematician said.
“If you don’t have a good idea of what the world looks like, it’s hard to determine what the effects of policies will be,” Center for Equitable Growth senior mathematician Carter Price told Bloomberg.
“Looking retrospectively, it’s hard to assess what the effects of a policy were.”
The richest of America’s rich, with at least $20 million in net wealth, held 23.5 percent of all US wealth in 2012 after adding
2. Burning Man For Elite Travelers….
According to an article in The New York Times, “The Burning Man festival, which kicks off in the Nevada desert today, is a mix of a pagan ritual and cultural festival that is not to be missed.” “And, depending on who you believe, it is either being totally ruined, or totally not, by a bunch to tech billionaires who bring luxury tents so they can enjoy a five-star lifestyle while mixing with the great unwashed (literally – if you don’t bring your own shower you probably won’t be washing).”
“The annual event attracts 70,000 people to a temporary camp where they take part in an arts festival and community building experience.”
“Mega rich tech gurus have been making the Burning Man pilgrimage for several years, with past attendees including Google founders Larry Page and Sergey Brin and Amazon boss Jeff Bezos.”
“And their attendance has had an impact on the rest of us. Burning Man was a testbed for Google Maps and Tesla cars.”
“But where there were a few, now there are many, and the cashed-up Silicon Valley types are becoming a controversial presence at the event. Having bucketloads of cash shouldn’t be an advantage at a festival where, the rules state, you can’t buy or sell anything.”
“But apparently that rule doesn’t extend to the purchase of recreation drugs. This is a music festival after all. Nor does it prevent you from spending your cash before you arrive and then bringing the proceeds with you in the form of luxurious accommodations.”
“Temporary havens set up for those with the tech-bucks to spend that include luxury accommodation and wi-fi connections. While the festival is supposed to be all about equality and the free exchange of ideas and opinion some attendees are paying as much as $25,000 for luxury camps complete with private chefs and hired help or ‘sherpas’.”
“We have the craziest chefs in the world and people who build yurts for us that have beds and air-conditioning. Yes, air-conditioning in the middle of the desert,” he said.
How do elite travelers arrive? By private jet, according to the paper of record.
3. Where Can You Find Your Favorite College Basketball Coach? On A Private Jet Of Course.
Many universities own private jets so the President and top coaches can get where they need to efficiently. We also know many prominent faculty of prestigious universities fly privately working as consultants for major corporations. The University of Toronto’s Roger L. Martin was a key consultant for Proctor & Gamble CEO A.G. Lafley. Of course, in the case where a company or university owns a private jet it is usually hard to tell who was flying on it as that information is considered private.
In the case of University of Kentucky, when the basketball coach is getting private jet use donated by boosters the institution charters private jets, and thanks to the Louisville Courier-Journal we can see where he went and the costs charged to period.
July 16, 2013 – Jeffersonville, Ind., to Lexington to Washington, D.C., to Jeffersonville, Ind. ($9,179.96) July 18-21, 2013 – Lexington to Dulles, Va., to Milwaukee, Wisc., to Dulles, Va., to Dallas, Tex., to Las Vegas to Lexington ($20,568.07)* July 24-26, 2013 – Nicholasville, Ky., to Las Vegas to Orlando, Fla., to Nicholasville, Ind. ($29,035.78) July 28, 2013 – Orlando, Fla., to Lexington ($11,940.30) Sept. 10-12, 2013 – Louisville to Lexington to Minneapolis, Minn., to Fayetteville, Ark., to Houston, Tex., to Louisville ($24,127.20) Sept. 16, 2013 – Indianapolis to Ft. Wayne, Ind., to Frankfort, Ky. ($10,206.07) Sept. 18, 2013 – Lexington to Jackson, Miss., to Pascagoula, Miss., to Lexington ($11,149.10) Sept. 19, 2013 – Lexington to Memphis, Tenn., to Lexington ($7,386.20) Sept. 24, 2013 – Nicholasville, Ky., to Oakland, Calif., to Santa Ana, Calif., to Nicholasville, Ky. ($37,021.06) Sept. 27-28, 2013 – Lexington to Teterboro, N.J., to Lexington ($12,700.60) Oct. 6, 2013 – Lexington to Cleveland, Ohio, to Lexington ($3,442.37) Oct. 11, 2013 – Lexington to Milwaukee, Wisc., to Middletown, Ohio, to Lexington ($11,684) Oct. 27, 2013 – Lexington to Houston, Tex., to Lexington ($5,200.93)* Nov. 5, 2013 – Lexington to Jackson, Miss., to Lexington ($10,389.60) Dec. 7, 2013 – Lexington to Paducah, Ky., to Lexington ($3,996.40) Dec. 20, 2013 – Lexington to Dayton, Ohio, to Lexington ($1,398.62)* Dec. 22, 2013 – Lexington to Teterboro, N.J., to Lexington ($11,589.45) Jan. 3, 2014 – Lexington to Pittsburgh, Pa., to Lexington ($3,432.39)* Jan. 11, 2014 – Lexington to Nashville, Tenn., to Paducah, Ky., to Lexington ($3,696.05)* Jan. 18, 2014 – Lexington to Dayton, Ohio, to Lexington ($7,462.14) Jan. 20, 2014 – Lexington to Springfield, Mass., to Lexington ($11,366.60) Jan. 22, 2014 – Lexington to Teterboro, N.J., to Lexington ($5,139.26) Feb. 19, 2014 – Lexington to Memphis, Tenn., to Lexington ($8,755.75) April 22, 2014 – Lexington to Greensboro, N.C., to Owensboro, Ky. ($3,221.22)* April 23, 2014 – Lexington to St. Louis, Mo., to Teterboro, N.J., to Lexington ($8,065.14) April 24-26, 2014 – Lexington to Sacramento, Calif., to Dallas, Tex., to Nicholasville, Ky. ($43,665.43)
All the best,
Douglas D. Gollan Group President and Editor-in-Chief Elite Traveler, the private jet lifestyle magazine Elite Traveler Superyachts, the superyacht lifestyle magazine Elite Traveler Asia, Asia’s private jet lifestyle magazine Elitetraveler.com, the private jet lifestyle online Elite Traveler Update, our weekly e-Newsletter to private jet owners worldwide
Elite Traveler (audited by BPA Worldwide) is the only audited publication delivered to global locations for private jet travelers. We have global distribution in over 100 countries aboard private jets and in private jet terminals. Each issue is read by over 630,000 Ultra Affluent consumers with an Average Household Income of $5.3 million (Source: Prince & Associates, 2011)
Doug.Gollan@elitetraveler.com Elite Traveler Magazine 708 Third Avenue, 10th Floor New York, NY 10017 USA