From a $27,500 Charter Company to a $4 Billion Private Jet Giant | Kenn Ricci, Flexjet
Oct 28, 2026 · 1:11:09
Kenn Ricci, chairman of Flexjet, tells David Senra how he built a $4 billion private jet operator from a $27,500 charter company and argues parents should give children their wealth while alive. He explains the family limited partnership started in 1990 to gift shares at each child's birth, echoing Charlie Munger's 'You give them the money.' He recounts Flight Options' 1998 launch—$100 million in sales in three months after Buffett's NetJets purchase unlocked $300 million in debt—his 2002 Raytheon ouster, and $135 million buyback in the 2008 crisis. He also explains buying Flexjet from Bombardier for $180 million in 2014, why he hates mergers and kept the firm private, Father Ted Hesburgh's rules for significance, and the policy letting any employee fix a customer problem without approval.
