How Billionaire Kenn Ricci Turned a $27K Bet Into a Fortune | The WSJ Money Interview

Kenn Ricci is a pilot whose obsession over four decades with aviation and luxe travel made him a billionaire. He has started businesses tied to almost every aspect of flying—his private-jet company Flexjet was recently valued at $4 billion after an investment by a private-equity firm backed by LVMH. So how does he think about money and wealth? WSJ sat down with Kenn Ricci to learn how he made his first million, what spending in his tax bracket looks like and more. Chapters: 0:00 Introducing Kenn Ricci 0:48 How Ken made his first millions 3:34 Merging with Raytheon 4:31 Ken’s next venture: Directional Aviation Capital 5:42 Buying Raytheon out and turning it around 6:27 Hitting a billion dollar net worth 7:39 How money changes things and passing on wealth 8:40 Family meeting agendas 10:17 How much money you donated last year 10:46 Vacation spending and tipping 12:03 Watch collection and spending on clothes Subscribers get access to full-length episodes of WSJ’s The Money Interview, plus the chance to have their questions answered by our millionaire guest. Watch the full series here: https://on.wsj.com/3ZauOly Follow our host Gunjan Banerji on Instagram at @gunjansb. WSJ The Money Interview What can some of the world’s most interesting tycoons teach us about ambition and wealth? WSJ’s Gunjan Banerji sits down with highfliers for a candid conversation about how they made it. #Business #Wealth #WSJ