Company spending on this perk has climbed 50% since before the pandemic

  • Companies in the S&P 500 spent $65 million on personal use of corporate jets in 2022
  • This is a 50% increase from pre-pandemic levels
  • The trend of personal use of corporate jets appears to be continuing

The pandemic has brought back one of the flashiest executive perks – free personal travel on the company jet. According to a Wall Street Journal analysis, companies in the S&P 500 spent a whopping $65 million in 2022 for executives to use corporate jets for personal travel. This amount represents a significant 50% increase from pre-pandemic levels three years earlier. The trend of personal use of corporate jets doesn’t seem to be slowing down, as early signs suggest that the spending continued to rise last year.

Public Companies: S&P 500 (N/A)
Private Companies:
Key People:

Factuality Level: 8
Justification: The article provides specific data and analysis from the Wall Street Journal, indicating that companies in the S&P 500 spent $65 million for executives to use corporate jets for personal travel in 2022, which is a 50% increase from pre-pandemic levels. The article also mentions that early signs suggest the trend continued in the following year. The information provided is specific and based on analysis, making it more reliable and factual.

Noise Level: 7
Justification: The article provides some data and analysis on the increase in companies providing free personal travel on corporate jets for executives. However, it lacks in-depth analysis of the long-term trends or consequences of this perk. It also does not provide any evidence or examples to support its claims. Overall, the article contains some relevant information but lacks scientific rigor and actionable insights.

Financial Relevance: Yes
Financial Markets Impacted: The article provides information on the spending of companies in the S&P 500 on executives’ personal travel using corporate jets.

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article pertains to financial topics as it discusses the spending of companies on executive perks, specifically personal travel on company jets.

Reported publicly: www.wsj.com