The world's billionaires suffer from a shortage of private jets and the high prices of yachts and palaces

Billionaire Richard Branson and former US President Barack Obama.

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As the world's billionaires and the world's wealthiest continue to build their fortunes, despite the turmoil caused by the pandemic, they are complaining of a lack of basic goods for their usual lifestyle.

But no, these basic commodities are not the "usual" that a person needs in his life in terms of clothing, adequate housing, and traditional means of transportation, but rather their fast-paced, luxury lifestyle.

Billionaires around the world are currently suffering from multiple crises that disrupt this usual pattern. For example, they face great difficulties in obtaining private planes and find exaggerated prices for yachts, palaces and other products for this category.

Billionaire Michael Spencer, founder of the British financial services company, Nyx Group, was one of the few wealthy people to acquire a new private jet in recent months, according to a Bloomberg report.

In fact, his new plane is not so simple, as it is a "Global 5500" model produced by the Canadian company "Bombardier", which has a speed of 594 miles per hour (955 kilometers).

This plane is airy and equipped with two engines, and it can simply fly from Los Angeles to Moscow in the heart of Russia without the need to stop, and it can easily land in rugged airports and accommodate about 12 passengers.. It is true, its price is 45 million dollars.

Spencer was lucky, because producers of such private jets are struggling to meet "record demand" for their products due to the rapidly growing wealth of the wealthiest, according to the report.

“The market is in a situation like never before,” says Christopher Marish, co-founder of MySky, an online management platform for aircraft owners. “For every plane, there are two or three buyers of popular models."

This thirst for expensive planes is the latest evidence that the booming economy of billionaires around the world, along with the demand for mansions, luxury yachts and other goods, has exceeded pre-pandemic levels.

The number of luxury yachts sold from the beginning of 2021 until mid-October increased by 60% to 523 yachts, compared to the same period last year, according to research conducted by the "Super Yacht Times".

More than a quarter of these purchases were for new yachts.

At the same time, the world's most expensive homes have skyrocketed, and venture investor Mark Andreessen, for example, has spent $177m on a property in Malibu, California.

Private equity giant Leon Black paid a more modest $28m for a mansion in one of London's most exclusive neighbourhoods.

Paul Welch, founder of Million Plus, an online platform for luxury real estate, yachts and planes, said: "It seems that the world's rich are traveling again and want to do some things. I have people buying properties in London from Indonesia, Canada and Hong Kong."

Among them are the wealthy behind London chemical giant INEOS, Jim Ratcliffe, Andy Currie and John Reese, whose regulatory filings show they have bought two Gulfstream jets and one Airbus SE helicopter since the start of 2020.

Although the pandemic itself has fueled interest in travel and recreation away from direct contact with people, the main driver of this spending frenzy for the wealthy is growing wealth.

The world's 500 richest people added $1.2 trillion to their wealth from the start of 2021 until October, buoyed by booming stock markets and central banks flooding economies with cheap liquidity.

These factors have also spawned dozens of new billionaires this year, who have built their fortunes through private equity offerings, acquisitions, cryptocurrency investments, and corporate mergers.

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