Diddy is reportedly making millions from prison by renting out his Gulfstream G550
Sean "Diddy" Combs was convicted and sentenced to serve 50 months in prison earlier this year. The disgraced mogul also faces a $500,000 fine.
Yet, just because Diddy, who is worth $400 million, is in jail, it doesn’t mean his assets aren’t making money. Based on an article in The US Sun, his luxurious Gulfstream G550 jet, named LoveAir, is working hard for its owner. Reportedly, the aircraft, managed by a luxury jet rental company, has made about $4 million in eight months. Not bad for an aircraft whose owner can’t currently use it.
To learn more, Jettly connected with a crew who shared fascinating intel about how this industry works. If you’re wondering how Diddy’s jet is still living its best life while he’s not, stay tuned.
Who Can List a Private Jet for Charter?
You don’t need a 14-seater $60 million private jet like Diddy’s to generate income with your own aircraft. But you do need a plane operated by a licensed air carrier (a Part 135 operator in the U.S., or an equivalent international certification), and you must ensure safety and legal compliance for passenger transport for hire.
Brokers are the intermediaries between your licensed aircraft and passengers. The listing process is usually straightforward, and once vetted by the platform, the plane will appear as available and will soon start generating income without any supervision on your side.
This is most likely what happened with Diddy’s Gulfstream G550. The plane was listed, and the passengers didn’t even know who the real owner was. Since it has powerful engines and is one of the most comfortable aircraft in this range, it’s no wonder that it was in such high demand. The G550 can travel long distances without needing a refuel. Plus, the interior is spacious, with plush seating and a full-size galley, so passengers arrive well-rested and relaxed.
Who Can Book a Private Jet?
Anyone who has the budget and necessary documentation. While it is pricier than flying commercial, booking a private jet offers many benefits, such as privacy, luxury, and the convenience of flying on your own schedule and accessing smaller, more convenient airports.
This is why companies and executives who need to travel on flexible schedules, visit multiple locations in a single day, or hold confidential meetings en route may choose a private jet to avoid going through security and waiting for flights.
Of course, business executives are not the only ones chartering private planes. Many affluent individuals do it as well, and so do groups going on vacation or traveling for a special event.
Offers will vary by broker, but you should be able to choose a plane based on your travel distance, personal preferences, number of passengers, and luggage needs. With a bigger broker, you can have your pick. If you want, you can charter even a Gulfstream G550 and enjoy the complete luxury experience it offers.
Private Aviation Is On the Rise
Worldwide, there are around 23,000 to 23,500 private jets, and 60% to 70% are based in North America. Every year, this global fleet grows by several hundred planes, and the trends don’t show any signs of slowing.
Making Passive Income from Anywhere In the World
In Sean "Diddy" Combs’ case, he has to serve time, but his plane is reportedly out there, still generating income. It’s not a situation anyone would want to be in, but it’s proof that investing in this industry could pay off.
This story was produced by Jettly and reviewed and distributed by Stacker.
