An aviation attorney in Cleveland had to cancel her annual vacation last month — not because of travel troubles, but because she was swamped with paperwork. A flood of newly wealthy tech investors, flush with money from SpaceX and artificial intelligence startups, have been lining up to buy private aircraft, keeping her buried in purchase agreements.
The attorney, Amanda Applegate, says the rush stems from a series of major “liquidity events” in the technology world. SpaceX’s initial public offering raised a record $85.7 billion for the company — which also holds an ownership stake in AI firm xAI — creating enormous wealth for founders and employees. AI companies Anthropic and OpenAI are also being watched closely as potential candidates for major upcoming stock market debuts.
Venture capitalists, early employees, board members, and bankers tied to these anticipated IPOs are funneling their new fortunes into private aviation, making the industry one of the earliest winners of the AI wealth wave. Luxury travel companies have increasingly been targeting tech entrepreneurs, anticipating a fresh wave of billionaires emerging from the sector.
“I think there are many more people who can afford to travel privately, and that number seems to grow daily,” Applegate said. Her firm, Soar Aviation Law, which specializes in aircraft purchases and agreements, has seen business jump 25% so far this year.
For most people, private aviation begins with a membership or shared-ownership arrangement before they eventually move into owning an aircraft outright. According to data from aviation intelligence firm Jetnet, flights through shared-ownership programs increased 11.8% worldwide in the first five months of 2026 compared to the same stretch in 2025. Flights by private jet owners climbed even more — up 13.4% — as frustrations with commercial airline travel continue to grow.
Historically, major moments of wealth creation — whether stock market booms, mergers, or IPOs — have reliably pushed up demand for private aviation. During the dotcom boom, for example, business jet deliveries rose 24%, according to Jetnet. Analysts see a similar pattern playing out now, fueled by SpaceX’s roughly $2 trillion market valuation and the anticipation surrounding future tech IPOs.
Cleveland-based private aviation company Flexjet, which offers fractional jet ownership, leasing, and prepaid flight memberships, says it is seeing a younger customer base emerge. “Self-made first-generation wealth, like those set to benefit from these tech IPOs, is resulting in a Flexjet customer base that is younger,” said D.J. Hanlon, the company’s executive vice president of sales.
Even before these companies officially go public, many investors are already spending as if the money is in hand. “The past six to 10 months, I’ve had a handful of guys that are involved in SpaceX with money burning a hole in their pocket,” said a California-based aircraft broker who asked not to be named due to client confidentiality.
A decade ago, tech clients made up about one-fifth of that broker’s business. Now they account for roughly three-quarters of it — and they are moving quickly on scarce new luxury aircraft. “I have sold planes last year that I could sell for 10% to 15% more today,” the broker said.
San Francisco, home to both Anthropic and OpenAI, saw the fastest growth in business-jet traffic among major U.S. cities, with flights up about 11% year-over-year through June 14, according to WINGX, a Jetnet company. Near SpaceX’s launch site in Brownsville, Texas, business jet traffic spiked 177% — reaching 97 flights — during the company’s IPO window.
The boom is also reaching more entry-level private aviation products. Jet Linx, which provides aircraft management and jet-card memberships, reported its business was up 60% year-to-date through May. The company saw particularly strong growth in Texas, with jet-card membership sales rising sharply in San Antonio, Dallas, and Austin. Memberships start with either a one-time fee of $17,500 or an upfront deposit of $250,000.
“We frankly knew that we would do better year-over-year, but these numbers are far ahead of the expectations we had going into 2026,” said Jet Linx CEO Jamie Walker.
Charter company Mercury Jets also reported double-digit growth in demand from technology executives since the beginning of the year. After the SpaceX IPO, the company began receiving inquiries from first-time private flyers, according to Director of Charter Sales Ryan DeBruyne. Hourly charter rates range from about $1,500 to $18,500, while purchasing a jet outright can cost anywhere from $6 million to $70 million depending on the aircraft.
“People are starting to spend their money because they know it’s coming,” the California broker said. “I’ve had probably three clients related to SpaceX that are saying, ‘Let’s find something.’”
