By Editor,Emma Richter

Copyright dailymail

Although efficiency and minimalism has taken over society in recent times, CEOs are refusing to let go over this most prized possession: private jets.

Popular bosses, including Mark Zuckerberg, Kim Kardashian, Jeff Bezos, and more are known for hopping on exclusive flights, but the trend has surged incredibly over the past five years, according to new data.

A majority of the top 500 U.S. companies by revenue now shell out money for their CEOs to fly privately, according to Equilar, an executive-data firm.

Spending on private jets alone has soared 76.7 percent higher than it did in 2020 – all while major companies ask their employees to scale back and even let them go, per the data reviewed by The Wall Street Journal.

Zuckerberg, the CEO of Meta, was chartered around in his jet so much last year that the company had to front a $1.5 million bill for him to do so, the outlet reported.

Meanwhile, JPMorgan Chase CEO Jamie Dimon – who takes home $36 million annually – racked up $293,753 of personal travel in a company jet last year.

Amit Batish, a senior director at Equliar, told WSJ top bosses might be opting for private travel more than ever because of increased security fears following the death of UnitedHealthcare CEO Brian Thompson.

Thompson, 50, was shot dead on December 4, 2024 in Midtown Manhattan in what authorities have described as a targeted attack. Luigi Mangione, 26, was later arrested and charged with murder in connection to the chilling case.

‘It’s a tough thing to hear for rank-and-file employees, but security is a big reason why spending has been so high,’ Batish said.

‘Executives, especially high-profile ones, don’t want to travel publicly. To be competitive today, you’re going to have to shell out to keep them happy.’

Batish and other experts who’ve been monitoring private jet usage said that although Thompson’s death didn’t take place at an airport, his slaying made CEOs tighten up their security and fly privately more often.

The fear has spread so deeply that Atlassian CEO Mike Cannon-Brookes took to LinkedIn earlier this year to share his ‘deep internal conflict’ with flying private as a climate activist.

On the flip side, Cannon-Brookes said he had to consider threats that are ‘an unfortunate reality of my world.’

He went on to explain that he purchased his own plane, adding that his goal was to be open about his decision.

Private air travel is known to appeal to many people, including high-profile CEOs, so they can get to where they need to be sooner and in turn are more productive.

But, there is also another incredible perk known in the private jet world, Gregg Brunson-Pitts, CEO of Advanced Aviation Team, explained.

Luxury is a huge factor on private planes that tends to appeal to a majority of passengers, he noted.

Brunson-Pitt and his team, who work for a private-jet brokerage, are used to catering to clients with impressive in-flight food selection and ‘really nice swag bags,’ he said.

‘Think of, like, a cashmere blanket with your name stitched on it or some really comfortable slippers,’ he explained.

Starbucks CEO Brian Niccol hops on a private jet that picks him up from his home in Southern California and takes him to the company’s corporate headquarters in Seattle, per the outlet.

But, what has really ticked Starbucks employees, including recently laid off ones, is that he commutes on a hybrid schedule, according to Christine McHugh, a former Starbucks vice president.

McHugh, who is now an independent management consultant, is currently helping coach people who were recently laid off from the coffee company.

In her opinion, using a private jet for business reasons is its own thing, but ‘when it’s for your personal commute to and from the office, that seems over the top to me.’

However, when approached by the Daily Mail for comment, a spokesperson with Starbucks said Niccol is deserving of such treatment because he’s ‘established himself as one of the most effective leaders in our industry, with a proven track record of delivering long-term value to employees, customers, and shareholders.’

‘Brian is where the business needs him to ensure our long-term success,’ they added.

Many unemployed workers looking for new jobs are not happy to hear that top CEOs are putting money towards private jets as opposed to hiring and paying them.

One of those people is Jennifer Peters, a woman from the Atlanta area who’s been looking for a new software job after being laid off in March.

She’s gotten through a series of interviews, but in the end she was told that hiring for those positions was on hold.

‘It makes me shake my fist because it’s a lot of hypocrisy,’ Peters told the outlet.