David Senra
How a pilot built a big private jet company, and what he did with the money
with Kenn Ricci, 1 h 11 min
Published
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- Guest
- Kenn Ricci
- Published
- Length
- 1 h 11 min
- Views when added
- 20,824
- Channel subscribers
- 146
Chapters from YouTube
- David Senra interviews Kenn Ricci, a former pilot who controls Flexjet, a private jet company with 365 aircraft.
- Flexjet sells fractional ownership, where you buy a share of a jet and split it with other owners.
- Kenn calls himself accidentally wealthy. He loved flying and never had a goal to build a business.
- Part of his luck, he says, was timing. Private jets went from about 5,000 to 35,000 since 1985.
- Many rich parents stay quiet and lock money in trusts. He tells his kids everything and gave them shares young.
What they say
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Kenn Ricci bought a tiny charter company only to keep his flying job.
Fractional ownership took his customers, so he copied it with used jets.
Fast growth strained his cash, and a merger cost him the company.
Losing the company was his worst day, and it led to buying it back.
He went to buy jets from Bombardier and ended up owning Flexjet.
He gave his kids shares early, to guide them while he's alive.
Telling them has had no downside, he says, and yearly meetings built trust.
Asked why he kept Flexjet private, he says his life must serve others.
If you only watch 17 min
Best if you run a company, or wonder what to tell your kids about money.
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