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Words: Damon KitneyProducer: Louise Starkey
The hottest trophy asset among Australia's rich elite
Forget fast cars, super yachts or luxury houses. The hottest trophy asset for Australia's rich elite right now is a $100m jet. So who has bought one?
Picture: Gulfstream
Former Toll Holdings boss Paul Little has owned his Gulfstream G650 for more than five years but it still looks as good as the day he took delivery of the $85 million private jet.
Little was a trendsetter in buying the first business jet able to fly non-stop to Sydney and Melbourne from Los Angeles, joining the likes of Multiplex heir Tim Roberts, media magnates Rupert and Lachlan Murdoch, and Westfield's retired co-founder, Sir Frank Lowy.
The List now includes Melbourne billionaire plumbing supplier Jonathan Munz (who never flies at night), Westfield heir David Lowy (who flies the plane himself) and Spotlight billionaire Zac Fried.
Media and mining magnates Kerry Stokes and Gina Rinehart have preferred the smaller but equally luxurious Gulfstream G600.
The world's leading private jet manufacturers are setting new standards for space and power in the air, releasing the Gulfstream G700 and the Bombardier Global Express 7500.
Picture: Gulfstream
Property developer John Gandel is the only Australian owner of the latter $100 million aircraft.
Andrew Forrest, Kerry Stokes and Perth-based gaming founder Laurence Escalante each have one on order.
Trucking magnate Lindsay Fox and his family are taking delivery of a new Global Express 6500 — $20 million cheaper than the 7500 — in the second quarter of this year.
An explosion in private jet travel globally in the past year following the Covid pandemic has seen aircraft deliveries in most categories pushing out to the second quarter of 2023 and beyond.
Picture: Gulfstream																		

Original URL: https://www.theaustralian.com.au/web-stories/free/the-australian/the-hottest-trophy-asset-among-australias-rich-elite