#159 – Private Jets & Tax Reform

Good morning everyone,

Hope you’re having a great week!

Here are 5 things I found interesting over the past few days.

Let’s jump in.

read online on my website

read time 3 minutes

#159 – The Rundown:

• Quote: The process is the destination.

• Podcast: The unregulated world of private jets.

• Article: Craig Tindale’s thoughts on the recent tax reforms.

• Observation: The fastest-growing asset class for family offices.

• X: Where do all of the millionaires live?

Quote:

The Process is the Destination

{h/t James Clear}

Podcast:

The Unregulated World of Private Jets

A really intriguing discussion between Josh Pottinger of UBS in Austin, Texas and Greg Sydor, Sales Director at leading aviation sales company, Guardian Jet.

This was an awesome peek into the world of private aviation: when it makes sense, how it works, and where investors can go wrong.

The conversation breaks down the full spectrum of options, from charter to fractional to full ownership, along with the real costs, trade-offs, and decision frameworks behind each path.

One of the things that stood out to me most was how unregulated the private aviation industry is in terms of buyers/sellers.

Remarkably, you don’t need a licence of any kind to sell a private jet. As a result, it becomes very problematic for buyers who may not understand the asset class and find it difficult to accurately benchmark pricing.

This dynamic has created a market environment in which 50% of transactions that occur in private aviation globally are short-term arbitrage plays (capitalising on asymmetric information).

Fascinating stuff.

Listen on Spotify or Apple Podcasts.

[Duration: 51 minutes]

{h/t Mr Family Office}

P.S. I made a Spotify playlist with every podcast I’ve ever recommended. Hope they bring you as much value as they’ve brought me.

Article:

Craig Tindale’s Thoughts on the Recent Tax Reforms

A thought-provoking article courtesy of Craig Tindale breaking down the recently announced 2026 tax reforms.

My biggest takeaways:

1) Most commentary on the proposed tax changes from the recent Federal Budget is too shallow and sensationalistic. The CGT and negative-gearing changes are not just a tax increase – they represent a redesign of investment incentives. In other words, it changes the map of where capital wants to live.

2) The government is doing this explicitly in housing, by favouring new builds over established investment property, and implicitly across financial assets, by making ownership structure, asset path, inflation, and timing matter far more than they do now.

3) “The ultimate consequence of this architecture extends far beyond individual tax bills. By penalising direct, high-dispersion equity and pushing wealth toward unitised wrappers and residential property, the tax code actively starves physical industrial capacity.”

4) “At the exact moment the global economy enters a material-constrained environment requiring extraordinary, risk-heavy investment in resource sovereignty and critical mineral supply chains, the domestic system is engineered to retreat from risk. This architecture explicitly divorces capital from physical production, trapping it instead in passive financialisation and housing supply.”

{h/t Trader Ferg}

Observation:

The Fastest-Growing Asset Class for Family Offices

According to CNBC, family offices now manage over US$5.5 trillion in wealth globally (or approximately the same total assets held by hedge funds), and that number is expected to climb to US$9 trillion by 2030.

In Q1 2026, public equities were the only asset class that grew as a share of family office portfolios over the past year, with stocks accounting for 34% of portfolios. That’s up from 32% a year ago.

Whether or not this is an intentional rotation into public markets or merely a downstream consequence of formerly private companies going public, or some combination of both, we don’t know for sure.

But with highly anticipated IPOs from the likes of SpaceX, OpenAI, and Anthropic in the next coming days/weeks/months, this number is likely to continue increasing…

{h/t Mr Family Office}

X:

Where Do All of The Millionaires Live?

{h/t Mr Family Office}

Thanks for reading! Grateful for your support.

In case you missed it, last week’s newsletter covered every newsletter that I'm subscribed to, the science of charisma, the courage to do less & more.

If you enjoyed this edition, it would mean the world if you could forward it to a friend or send them my website.

This goes a long way to helping me reach more people :)

See you in the next one,

Dimi

P.S. the best ways to get in touch with me are via email or LinkedIn