Techies and financiers flush with AI cash race to buy private jets

The blockbuster SpaceX IPO and a surge of wealth from the AI industry are fueling a buying frenzy in the private jet market, with brokers reporting a surge of newly wealthy founders, investors and early employees looking to snap up aircraft — even as inventory dries up and prices climb.Business jet traffic is already reflecting the boom.San Francisco, home to AI giants OpenAI and Anthropic, posted the fastest growth among major US cities, with business jet departures climbing about 11% from Jan.1 to June 14, according to aviation intelligence firm WINGX.Near SpaceX’s Starbase in Brownsville, Texas, business jet traffic spiked 177% during the company’s recent IPO window.Meanwhile, flights through shared-ownership programs rose 11.8% globally in the first five months of 2026, while flights operated by private jet owners increased 13.4%, according to Jetnet.The Jetnet and WINGX data was cited by Reuters.Many first-time buyers begin with charter flights, jet cards or fractional ownership before purchasing their own aircraft, industry executives say.Charter operator Mercury Jets has reported double-digit growth in demand from technology executives this year, while Jet Linx said its business was up 60% through May, driven in part by strong growth in Texas.The surge mirrors previous periods of rapid wealth creation.During the dot-com boom, business jet deliveries climbed 24%, according to Jetnet.This time, industry executives expect demand to remain elevated as investors look ahead to potential IPOs from AI heavyweights including OpenAI and Anthropic.Daniel Jennings, CEO of The Private Jet Company, told The Post the surge of AI wealth has transformed an already tight market for ultra-long-range aircraft.“We only have single digit inventory” of top-tier jets such as Gulfstreams, Falcons and Bombardier Globals, he said, adding that buyers are increasingly competing for the limited supply.One SpaceX shareholder who was already a jet owner recently approached Jennin...