I Sell Private Jets To Billionaires – This Is The Biggest Myth About The Industry (And How Much It Really Costs To Buy One For Yourself)

Meet the man who makes his living as a private jet broker, selling luxury jets to billionaires.

Steve Varsano is the founder of Live Business, a London showroom for private jets, marked by the fuselage of an Airbus in the waiting area. During his career, he has sold around 500 private jets, the most expensive of which fetch around £82 million ($100 million).

The New Jersey resident, 67, shares the behind-the-scenes of his profession TIK Tokwith a video – showing a day in his life starting at 6am, ending at 9pm and back-to-back meetings and phone calls – racking up more than 16 million views, suggesting the platform’s users are intrigued from the highly profitable industry.

But speaking to MailOnline Travel, Steve reveals how the private jet industry is often misunderstood. The biggest myth? He says people think everyone is flying around ‘partying… going on golf outings, and it’s just a rich person’s toy, but it’s not.’

The reality, he says, is that they are mostly ‘occupied by companies going to branches, factories, going to look at real estate or going to board meetings.’ He adds that ’75 percent of all aircraft are occupied by middle management people’.

What’s more, most private jets, he finds, aren’t the ‘luxury, giant Boeings’ that people expect them to be. He explains: ‘Most people are in a tiny little plane that you can’t stand up in and most of those tiny planes don’t even have bathrooms… if they do (have a bathroom), (it’s) not that that you really want to use unless you’re really in an emergency.’

To buy a private jet at the cheaper end of the spectrum, you need a budget of around £2.5 million ($3 million), which will get you the smallest new jet that seats four, reveals Steve , adding: “A van will get a little bigger inside.’

At the top of the ‘super’, he says, you have the Falcon 8X (£49m / $60m), the Bombardier Global 7500 (61m / $75m) and the Gulf Stream G700 (65m / $80m).

But the highlight is the private planes of Boeing or Airbus. These can go up to £163 million ($200 million), depending on the model, Steve reveals.

Steve, who got his pilot’s license at 17 and worked in private equity before setting up The Jet Business, won’t reveal how much he earns each year, although he admits: “We make a good living.” . He adds that he earns enough to live a lifestyle similar to that of his clients. He says: ‘Many customers become friends and many friends become customers. We are lucky enough to be able to work and live in that kind of environment.’

In fact, the people he gets to work with are the biggest perk of the job, Steve reveals. He says: ‘They are the most successful corporate executives in the world, the smartest, the most cunning, the most worldly, in every sector in many different countries in the world. Being able to meet who’s who in the world… that’s what I really like.’

Steve says that in addition to corporate executives, he has also worked with celebrities and governments in the past. However, he notes that most A-listers don’t buy private jets as often as people might think, explaining: ‘The real bottom line of celebrities, a lot of them rent (planes) or fly people. ‘

When a new customer arrives on the scene, their team does a quick background check to see who they are, find out if they already have a plane, and make sure they’re not on any bad lists. to govern’. They come to Steve’s showroom, where they can take a tour of the plane they’re considering buying through a giant video wall.

However, Steve says he sometimes turns potential customers away from buying planes. He admits: ‘Owning a plane is expensive, time-consuming and there are just endless bills and bills that come with owning a plane. So if it is not kept in use, it is not wise to own one.’

And it’s a demanding industry, but that’s not something that worries him. He says: “I work non-stop, 24 hours a day, whenever I need to. Even when I’m on vacation, I always meet potential clients.’ He adds: “I love what I do, so working all the time doesn’t bother me. It’s a normal day for me.’