Who Owns NetJets?
NetJets is owned by Berkshire Hathaway (NYSE: BRK.A, BRK.B), which acquired the company in 1998. Founded in 1964 as Executive Jet Aviation, NetJets pioneered the fractional aircraft ownership model under Richard Santulli in 1986. The company operates approximately 1,100 aircraft with 13,600 fractional owners and recorded 719,086 flight hours in 2025. NetJets is headquartered in Columbus, Ohio, USA.
NetJets Timeline
luxuryluxuryGlobalsustainable aviationfuel efficiencyenvironmental complianceresponsible operationsOfficial Website
Who Owns NetJets?
- Parent Company: Berkshire Hathaway
- Ownership Type: Acquired
- Acquisition Year: 1998
- Company Type: Publicly Traded
- Stock Ticker: NYSE: BRK.A
| Brand | Parent Company | Ownership Type |
|---|---|---|
| NetJets | Berkshire Hathaway | Acquired |
History of NetJets
- Founded: 1964
- Founders: Richard Santulli, Paul Tibbets
- Acquired by Berkshire Hathaway: 1998
NetJets was founded in 1964 as Executive Jet Aviation by retired U.S. Air Force pilots in Columbus, Ohio, including Paul Tibbets, who piloted the Enola Gay during World War II. The company initially operated as a charter aviation service, one of the first companies to offer private jet charter and management.
The fractional aircraft ownership concept was developed and commercialized by Richard Santulli, a mathematician and former Goldman Sachs investment banker who acquired Executive Jet Aviation in 1984. Santulli's key insight was that most private aircraft owners used their planes only a fraction of the time, making full ownership economically inefficient. By selling fractional shares of aircraft (typically 1/16th to 1/2 of an aircraft), NetJets could give owners the benefits of private aviation without the full cost of ownership, while pooling the fleet to ensure availability. Santulli introduced the fractional model in 1986 and renamed the company NetJets.
Under Santulli's leadership, NetJets grew rapidly through the 1980s and 1990s, becoming the dominant player in the fractional aviation market. The company attracted high-profile customers including corporations, celebrities, and wealthy individuals who valued the flexibility and privacy of private aviation without the full burden of aircraft ownership.
In 1998, Warren Buffett's Berkshire Hathaway acquired NetJets for approximately $725 million. Buffett had become a NetJets customer and was impressed by the business model and Santulli's management. The acquisition gave NetJets the financial backing of one of the world's most financially strong companies, enabling continued fleet expansion and international growth.
NetJets expanded into Europe through its NetJets Europe subsidiary and has grown to operate the world's largest private aviation fleet. The company also operates Executive Jet Management, a aircraft management and charter subsidiary. In 2025, NetJets maintained its position as the largest private jet operator by flight hours, recording 719,086 hours across its combined operations, up from 665,349 in 2024.
Santulli resigned as CEO in 2008 during the financial crisis when NetJets faced significant losses. Under subsequent leadership, including current leadership, NetJets returned to profitability and continued expanding its fleet and customer base. The company has invested heavily in new aircraft orders, including a deal for up to 250 Embraer Praetor 500 midsize jets and a commitment for up to 1,500 Cessna Citation jets from Textron Aviation over 15 years. In 2026, NetJets exclusively launched the Cessna Citation Ascend, expanding its midsize fleet.
About Berkshire Hathaway
What does Berkshire Hathaway own?
Berkshire Hathaway owns a diverse portfolio of over 100 wholly-owned subsidiaries and significant equity investments. Key holdings include GEICO (auto insurance), BNSF Railway (freight transportation), Berkshire Hathaway Energy (utilities), Precision Castparts (aerospace components), Duracell (batteries), See's Candies (confectionery), Dairy Queen (fast food), and NetJets (private aviation). The company also holds substantial investments in publicly traded companies including Apple, Bank of America, and American Express.
Is Berkshire Hathaway publicly traded?
Yes. Berkshire Hathaway is publicly traded on the New York Stock Exchange under two ticker symbols: BRK.A (Class A shares) and BRK.B (Class B shares). Class A shares have significantly higher voting rights and are priced much higher than Class B shares. Class B shares were created in 1996 to make Berkshire stock more accessible to retail investors. The company has been publicly traded since 1988 and has never paid a dividend.
Who founded Berkshire Hathaway?
The original Berkshire Hathaway textile company was founded in 1839 by Oliver Chace in Valley Falls, Rhode Island. The modern Berkshire Hathaway was shaped by Warren Buffett, who began acquiring shares in 1962 and gained control in 1965, transforming the struggling textile manufacturer into a diversified holding company. The original textile operations were closed in 1985.
Where is Berkshire Hathaway headquartered?
Berkshire Hathaway is headquartered in Omaha, Nebraska, USA. The company has maintained its headquarters in Omaha since Warren Buffett took control, reflecting its commitment to a conservative, Midwestern approach to business despite its global scale. The corporate headquarters employs only approximately 25 people, reflecting the extreme decentralization of the organization.
How many companies does Berkshire Hathaway own?
Berkshire Hathaway owns over 100 wholly-owned subsidiaries across insurance, railroads, utilities, manufacturing, consumer products, and services. The exact number fluctuates as Berkshire makes new acquisitions and occasionally sells businesses. The company also holds significant minority stakes in publicly traded companies.
Who owns Berkshire Hathaway?
Berkshire Hathaway is owned by its shareholders, with no single controlling shareholder. Major institutional investors including Vanguard Group, BlackRock, and State Street hold significant stakes. Warren Buffett remains the largest individual shareholder and serves as Executive Chairman, while Greg Abel serves as CEO. The company has a widely dispersed shareholder base typical of large public corporations.
What is Berkshire Hathaway's revenue?
For full-year 2025, Berkshire Hathaway reported operating earnings of $44.49 billion, down from $47.44 billion in 2024. The decline was primarily driven by weaker insurance underwriting results. The company maintains one of the strongest balance sheets in corporate America with cash and equivalents exceeding $150 billion and insurance float exceeding $170 billion.
Who is the CEO of Berkshire Hathaway?
Greg Abel serves as CEO of Berkshire Hathaway, having succeeded Warren Buffett on January 1, 2026. Abel had long been considered Buffett's successor and previously led Berkshire's non-insurance operations. Warren Buffett remains Executive Chairman and continues to be involved in major capital allocation decisions.
- Founded: 1839
- Headquarters: Omaha, Nebraska, USA
- Company Type: Publicly Traded
- Stock: NYSE: BRK.A
- Revenue: $44.49 billion operating earnings (FY2025)
- Employees: Approximately 380,000
Where Is NetJets Made / Based?
- Headquarters: Columbus, Ohio, USA
- Manufacturing / Operations: United States
NetJets Categories & Tags
NetJets Sustainability & Ethics
NetJets operates under Berkshire Hathaway's corporate philosophy while implementing environmental and ethical initiatives tailored to the private aviation sector. As the world's largest private jet operator, NetJets plays a role in advancing sustainable aviation practices.
Sustainable Aviation Fuel Leadership: NetJets purchased 19.4 million gallons of sustainable aviation fuel (SAF) in 2024, roughly doubling its 2023 consumption. As the launch customer of Signature's SAF program in 2020, NetJets committed to purchasing up to three million gallons of SAF. The company also invested in WasteFuel, a company that produces sustainable aviation fuel from waste feedstocks.
Fleet Modernization and Efficiency: NetJets operates one of the youngest and most fuel-efficient private jet fleets globally. The company's recent agreements include purchasing up to 250 Praetor 500 midsize jets from Embraer beginning in 2025 and a commitment for up to 1,500 Cessna Citation jets from Textron Aviation over 15 years. In 2026, NetJets exclusively launched the Cessna Citation Ascend. These modern aircraft feature advanced aerodynamics, efficient engines, and reduced environmental impact compared to older models.
Carbon Reduction Initiatives: Beyond SAF adoption, NetJets implements carbon reduction strategies including optimized flight planning, advanced navigation systems, and operational efficiency measures. The company's focus on fuel efficiency extends to ground operations, with investments in electric ground support equipment where available.
Safety and Operational Ethics: NetJets maintains safety standards through its adoption of safety analytics, including the FlightPulse system from GE Aerospace across operations in the United States and Europe. This technology provides pilots with data to enhance safety and efficiency.
Environmental Compliance and Standards: NetJets adheres to environmental regulations and international aviation standards, including ICAO carbon offsetting requirements and CORSIA compliance. The company participates in industry-wide initiatives to reduce aviation's environmental footprint.
Awards & Recognition
NetJets has received recognition for excellence in private aviation, particularly in safety, maintenance, and operational quality.
Diamond Award of Excellence: NetJets has received the Diamond Award of Excellence for flight safety and maintenance operations, recognizing the company's performance in aircraft maintenance, safety protocols, and operational reliability.
World Travel Awards Recognition: NetJets has been recognized in the World Travel Awards, often named or nominated as the World's Leading Private Jet Charter service.
Aviation Industry Safety Awards: NetJets has received safety-related accolades from aviation organizations. The company's adoption of advanced safety technologies like FlightPulse and its comprehensive safety management systems have been recognized as industry best practices.
Customer Service Excellence: NetJets receives recognition for customer service excellence in luxury travel and private aviation surveys. The company's focus on personalized service and reliability has resulted in high customer satisfaction ratings.
Operational Innovation Awards: NetJets' investments in technology, fleet modernization, and operational efficiency have been acknowledged by aviation industry organizations. The company's leadership in adopting sustainable aviation fuel has been recognized as forward-thinking.
Industry Leadership: NetJets is widely acknowledged as the global leader in private aviation, with industry publications and analysts consistently recognizing its market leadership, operational scale, and innovation in luxury aviation services.
NetJets Recalls & Controversies
NetJets has faced several controversies and legal challenges, primarily related to labor disputes, safety concerns, and the environmental impact of private aviation.
Pilot Union Defamation Lawsuit (2024): NetJets filed a defamation lawsuit against its 3,400-member pilots union in June 2024, two months after reaching a new labor agreement following contentious negotiations. The lawsuit alleged that the union made defamatory statements about NetJets' commitment to safety and pilot training, suggesting the company cared more about profits than safety.
Pilot Union Counter-Lawsuit (2023): Prior to NetJets' defamation suit, the pilots' union filed its own lawsuit against the company in April 2023, reflecting conflicts over labor agreements, working conditions, and operational policies.
Union Official Terminations (2024): NetJets terminated union officials, including the union vice president and strategy group chairman, allegedly for organizing a picket that violated company policy. The union claimed these terminations were unlawful and represented protected union activities.
Environmental Impact Criticism: As the world's largest private jet operator, NetJets faces ongoing criticism regarding the environmental impact of its operations. Despite leadership in SAF adoption, the company's core business model contributes to carbon emissions. Environmental groups and climate advocates have questioned the sustainability of private aviation, even with SAF initiatives.
Safety Training Disputes: The defamation lawsuit and other labor disputes have centered partly on disagreements about safety training protocols and pilot qualifications. Union representatives raised concerns about training adequacy, while NetJets management defended its safety programs.
Economic Sensitivity: NetJets' business model is sensitive to economic conditions, as private aviation demand correlates with business confidence and luxury spending. Economic downturns can significantly impact the company's performance.
Brands Owned by Berkshire Hathaway
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Food Service RestaurantsDairy Queen
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NetJets Ownership: Pros & Cons
Advantages
- +Access to Berkshire Hathaway's substantial financial resources
- +Long-term investment perspective enabling fleet expansion
- +Market leadership in fractional aircraft ownership (719,086 flight hours in 2025)
- +Safety reputation and operational excellence
- +Approximately 1,100 aircraft fleet, the largest in the industry
- +Global reach through NetJets Europe and Executive Jet Management
Considerations
- -Exposure to aviation industry cycles and fuel costs
- -Regulatory oversight of aviation operations
- -Competition from Flexjet and other fractional ownership providers
- -Environmental impact of private aviation operations
- -Labor relations challenges with pilot union
- -High cost of entry for fractional ownership customers
Frequently Asked Questions About NetJets
Sources & Further Reading
- NetJets Official Website
- Berkshire Hathaway Corporate Information
- Aviation International News: NetJets 2025 Results
- CNBC: NetJets CEO Interview
- Private Jet Card Comparisons: 2025 Top 30 Operators
- NetJets Press Center
- World Travel Awards
- GE Aerospace FlightPulse
- WasteFuel Sustainable Aviation Fuel
- International Civil Aviation Organization (ICAO)
- Federal Aviation Administration (FAA)
- National Business Aviation Association (NBAA)
- Wikipedia: NetJets
- Wikidata: NetJets
Competitors to NetJets
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Boeing | USA | 1958 | Premium | Global | All-ages | |
| General Dynamics | USA | 1958 | Luxury | Global | All Genders | |
| Rtx Corporation | USA | 1925 | Premium | Global | All-ages | |
| Berkshire Hathaway | USA | 1995 | Mass market | United states | All-ages | |
| Berkshire Hathaway | USA | 1956 | Mass market | United states | All Genders | |
| Berkshire Hathaway | USA | 1940 | Mass market | United states | All-ages |
Learn More About Competitors
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Aerospace DefensePratt & Whitney
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Leading manufacturer of aircraft engines and auxiliary power units for commercial, military, business, and general aviation applications.
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Transportation LogisticsBNSF Railway
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American freight railroad company operating one of the largest rail networks in North America, transporting goods across 28 states and two Canadian provinces.
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Real EstateClayton Homes
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American manufactured housing brand producing prefabricated and modular homes, owned by Berkshire Hathaway and headquartered in Maryville, Tennessee.
manufactured-housingmodular-homesprefabricated-homes
Food Service RestaurantsDairy Queen
Owned by Berkshire Hathaway
American fast food chain specializing in soft serve ice cream and the Blizzard treat, owned by Berkshire Hathaway since 1998. Over 7,700 locations across 20 countries.
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Competitive Analysis
Market Positioning: NetJets competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Travel HospitalityAquaventure Waterpark
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Aquaventure Waterpark is privately owned, unlike NetJets which is under a publicly traded parent company.
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