{"id":170567,"date":"2017-04-17T19:23:21","date_gmt":"2017-04-17T17:23:21","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=170567"},"modified":"2017-04-17T19:28:22","modified_gmt":"2017-04-17T17:28:22","slug":"high-number-of-ultra-rich-south-africans-own-a-private-jet","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/wealth\/170567\/high-number-of-ultra-rich-south-africans-own-a-private-jet\/","title":{"rendered":"High number of ultra-rich South Africans own a private jet"},"content":{"rendered":"

While the country debates the merits of a new private jet for president Jacob Zuma, new data shows that a high number of ultra-wealthy South Africans own their own plane.<\/p>\n

A recent report in the Sunday Times revealed that Zuma is set to get a new R1.3 billion private jet on top of the current presidential plane, Inkwazi, much to to the consternation of many who argue that the money could be better spent elsewhere.<\/span><\/p>\n

The Sunday paper said that discussions are underway to purchase a jet which can seat 18 people for shorter trips in Africa, while Inkwazi will be used for international flights.<\/p>\n

Now data compiled by New World Wealth reveals that the president would be in crowded company should the deal progress, with as many 160 dollar multi-millionaires owning a private jet in South Africa.<\/p>\n

High demand for private jets in Africa has been pushed by poor commercial travel infrastructure and the massive distances between business hubs on the continent. Private jets are a popular choice for businessmen, and companies to eliminate the time wasted in airports.<\/p>\n

According to Corporate Jet Investor<\/a>, dedicated to the business jet market, South Africa is 11th in the world in terms of jet registries, ahead of countries like Australia, France and Switzerland.<\/p>\n

Jets can range in price, starting from as little as $500,000 for a second hand Learjet aircraft, or\u00a0 $4 million for a Beechcraft King Air, to in excess of $60 million for a Gulfstream 550 which can accommodate up to 12 passengers.<\/p>\n

For companies, the Boeing Business Jet ranges between $55 million and $300 million plus, accommodating between 25 and 50 passengers, with three crew members.<\/p>\n

According to NWW\u2019s South Africa 2017 Wealth Report, the country has a total of 40,400 dollar millionaires, and has many as 2,130 individuals with more than R125 million in their account.<\/p>\n

The top private jet markets in Africa:<\/strong><\/p>\n

\"\"<\/a><\/p>\n

\n

Read: New \u2018secret\u2019 plan for a R1.3 billion private jet for Zuma<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

While the country debates the merits of a new private jet for president Jacob Zuma, new data shows that a high number of ultra-wealthy South Africans own their own plane.<\/p>\n","protected":false},"author":10,"featured_media":126133,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9880],"tags":[26,11877],"class_list":["post-170567","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-wealth","tag-headline","tag-new-wolrd-wealth"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/170567","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=170567"}],"version-history":[{"count":5,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/170567\/revisions"}],"predecessor-version":[{"id":170581,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/170567\/revisions\/170581"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/126133"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=170567"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=170567"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=170567"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}