From a $27,500 Charter Company to a $4 Billion Private Jet Giant | Kenn Ricci, Flexjet
Kenn Ricci, chairman of Flexjet, details his journey from purchasing a $27,500 charter operation to building a multibillion-dollar private aviation leader. He discusses navigating early fractional jet financing via Warren Buffett's validation, why corporate mergers poison culture, buying back Flight Options during the 2008 crash, and his unconventional philosophy on early generational wealth transfer.
- Kenn Ricci built Flexjet into a multibillion-dollar private aviation company after starting with a $27,500 charter operation, yet spent years battling guilt that reading balance sheets lacked the moral worth of curing cancer. Read →
- Richard Santulli created fractional jet ownership at NetJets after spotting an efficiency gap: corporate planes fly 300 hours a year, but they are built to fly 1,200. Read →
- Kenn Ricci started his family limited partnership in 1990, five years before his first child was born in 1995, specifically to gift shares early rather than holding assets until death. Read →
- Kenn Ricci built Flexjet into a multibillion-dollar private aviation company after starting with a $27,500 charter operation. Read →
- In December 2008, Kenn Ricci bought back Flight Options from Raytheon for $15 million cash and a $27 million personal guarantee after Raytheon lost $600 million running it into the ground. Read →
- Kenn Ricci views acquisitions as an admission of failure, stating that 90% of the time a company can build the capability itself. Read →