How ‘Frugal’ Billionaire Elon Musk Splurges: An Inside Look at His $78 Million Private Jet

Elon Musk’s comments about his frugal spending habits have been widely publicized, including that he stays in friends’ spare rooms when working at Tesla’s Bay Area headquarters. Of course, Business Insider later uncovered that Musk did own a $7 million Austin, Texas, home at the time of these comments.

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Still, the billionaire’s reputation for penny-pinching remains — with one exception.

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Musk’s Private Jet Collection

Claiming that frequent air travel is necessary to maximize available work hours, Musk is well-known for frequent use of private jets for commutes as short as five minutes. He famously flew more than halfway to the moon in 2018 alone. In 2022, he took a flight almost every other day , burning enough jet fuel to emit more than 132 times the average person’s carbon footprint for an entire year.

Some of that CO ₂ might be offset by the number of Teslas on the road, but the price tag certainly isn’t. Musk’s 2023 flights reportedly totaled more than twice his 2022 emissions and racked up $3.2 million in fuel costs. While this gas bill might be staggering, it doesn’t come close to covering the cost of the newest jewel in the jet-setter’s crown: a brand-new Gulfstream 700 .

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$78 Million of Cutting-Edge Design at Supersonic Speeds

Gulfstream began deliveries of the sparkling new G700 on April 23, 2024, according to a press release . In addition to being its most luxurious aircraft, the G700 is also the fastest, reaching Mach 0.99 during testing. Though its maximum cruising speed is slightly slower at Mach 0.935, Elon will still be cruising the stratosphere at just under the speed of sound. Here are the details:

• Maximum speed: Mach 0.935
• High-speed range: 6,650 nautical miles
• Long-range cruising speed: Mach 0.90
• Maximum range: 7,750 nautical miles
• Cruising altitude: 41,000 feet, the lowest in the industry
• Accolades: Holds more than 50 world speed records

According to Gulfstream, being able to fly longer distances at higher speeds means fewer flight hours and less frequent maintenance. Combined with its more aerodynamic wing design, this sleek speedster claims to be more fuel-efficient than its predecessors — a feature that the Tesla founder should appreciate. Even the newly announced G800 doesn’t match the G700 for speed.

Unparalleled Luxury at 41,000 Feet

While its record-breaking stats are certainly impressive, the G700’s expansive, customizable cabin is what truly warrants the staggering $78 million price tag. Gulfstream touts the G700’s cabin as being the largest in the industry, with multiple layout options designed to meet the needs of any discerning traveler:

• Up to five living areas
• Optional UltraGalley kitchen with more than 10 feet of counter space
• Optional crew rest area
• Optional Grand Suite with double bed, full-length wardrobe and standing shower
• Optional six-place conference or dining area

The G700’s Innovative Interior

No matter the layout, the interior refinement of the G700 is sure to make flying feel like more of a treat than transportation. In addition to high-speed Wi-Fi and surround sound, the G700 features:

• Convertible handmade seats with award-winning design
• Ultra-high definition circadian rhythm lighting system
• Whisper-quiet cabin
• Fresh, plasma-ionized air
• Touch controls with haptic feedback
• 20 of Gulfstream’s industry-leading panoramic oval windows
• Quartz countertops
• Natural stone floors in the galley and bathrooms

How Many Jets Does Musk Own?

Previously reported to own a not-so-frugal four-jet fleet, including a Gulfstream 650ER, two Gulfstream 550s and a Dassault Falcon 900B, Musk may have recently whittled down his collection. Currently, FAA records show only the G650ER and one G550 listed under the shell company Musk uses to purchase his aircraft, Falcon Landing (which shares the same address as Space X headquarters).

Maybe he’s simply restructured ownership for additional privacy after a highly publicized feud with the owner of ElonJet, which rigorously tracks the billionaire’s flight data. Or maybe the notorious cost-cutter is making room for his newest palace in the sky. After all, who’d want to fly anything else?

Does Musk Own More Jets Than Jeff Bezos?

Jeff Bezos recently dethroned Musk as the richest man in the world, according to the Bloomberg Billionaire Index, but Musk may still be king of the sky if FAA records are accurate.

Currently, records show the Amazon founder’s Poplar Glen company owns just two Gulfstreams to Musk’s three. He does, however, also own a host of smaller aircraft along with a $5.5 million Seattle hangar and is alleged to own a 10-seater Pilatus PC-24 .

This article originally appeared on GOBankingRates.com : How ‘Frugal’ Billionaire Elon Musk Splurges: An Inside Look at His $78 Million Private Jet