SpaceX and AI startup wealth fuels demand for private jets
Aviation lawyer Amanda Applegate skipped her annual vacation last month as a surge of wealth from AI startups and SpaceX sent a wave of tech investors shopping for private jets, burying her in paperwork for aircraft-purchase agreements.
The Cleveland-based attorney attributed the rush to a handful of major “liquidity events” in the tech industry.
The IPO of Elon Musk’s SpaceX, whose holdings include artificial-intelligence firm xAI, raised a record $85.7 billion for the company and generated unprecedented employee and founder wealth. Next in line for potential big IPOs are AI companies Anthropic and OpenAI.
