Steve Varsano says private jet buyers have gotten much younger. Twenty years ago the typical buyer was a CEO in their late 60s. Now the average is late 40s, with deals happening in the 30s and 20s, driven by social media exposure to younger wealthy people.
Chapters
was the age of the buyer. Going back 20, 25 years ago, this average CEO of a company was maybe in their late 60s, and today it's in their late 40s. We're doing a deal right now with a 33-year-old who's buying a jet and a helicopter. There are some cases where there's some people in their 20s for sure, but for sure the average age has come down. It's more fun talking with these people. They're much more curious, and they really get into the conversation. With the social media connection, the number of younger people that are coming through are just mind-boggling. They're teaching me to rethink how I think. In the early days, somebody in their 20s would never be respected in the company. Now, if you don't pay attention to a 20-something-year-old in your company, you're going to really become a caveman industry very quickly.