Ever wonder what happens to that $3 gas money you are spending? Well click on the Dubai Air Show to learn about the most luxurious jet yet. A Saudi Prince, 13th riches person in the world, has purchased his own A 380. The plane will be custom fitted with all manner of luxuries and with two floors, why not? Notably serious money is being spent on making
Dubai a real investing center, a diversification that escaped the Oil Rich East in the first oil boom of the 1970-80s.
Professor Elam
Accounting & Investing Info for San Antonio A & M
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5 responses to “Take the House With You”
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We hear all about the rich and famous celebrities here in America, and their outrageous spending habits; but this Prince puts them all to shame! This plane is bigger than even a large house, and to think that it has the capabilities to house a gym, or movie theater?!? Wow….
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Professor Elam,
It looks like this prince is actually one of the few people to buy one of Airbus’s A380 planes. I find it rather amazing that a single person can by a plane of this magnitude, and to even specially custom design the plane on top of those many millions he already spent is outrageous.LikeLike
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Scott
This is simply an individual with a higher than average disposable income. I can remember when Hugh Hefner painted a Boeing 707 black with a rabbit on the tail and called it the Big Bunny as a promo for his magazine. In the Mid East oil can be produced for less than $15, at a retail of $100, one does make a substantial contribution margin. This is why they are called Sheiks or in India, Rajahs.
No wonder the guy who wanted to buy Aston Martin approached Dubai. This time in this oil boom, they are a good bit smarter, Dubai will emerge as a financial center, something that did not happen in Saudi Arabia or Tehran. I suspect Dubai, Qatar, Arab Emirates will emerge the winners in this one.
I have no idea what this person is actually doing to invest and improve the education in his own country. I am however available to him at $250K per year as an adviser…..LikeLike
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I wonder where the world would be heading to, if the entire rich groupies starting spending such lavishly (with money stored up in their garages) things that helped more “the self than the other”. I wonder what the reaction to a spending of that amount of money to a cause by the prince would be, when right now the world is awestruck…with the now KNOWN FACT that someone out there is willing to buy something that huge…and this is only the beginning, when he has more to spend getting it prepared for a successful flight….Well! atleast we have something of news to wait for now!
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Lhamu
Well actually he did contribute to a cause so to speak, the folks at Airbus are happy, as you say it will take a full time maintenance crew wherever the plane is parked and flown, and of course he becomes his own best customer for aircraft fuel. So while it appears to be a luxury item a lot of folks will get jobs as a result. This was the case for Congress imposing a huge tax on luxury yachts bought in the US, it hurt the US boat business. Years ago Tip O’Neil, Speaker of the House, was informed by a waiter that decreasing the meal allowance for entertainnig on tax returns simply caused fewer tips for waiters, Tip was stunned, gee, there is a real economy out ther Tip.LikeLike
Professor Elam 
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