Finance

The world's rich and powerful are descending on Davos — and many are coming by private jet

A view of the Zurich Kloten Airport upon the arrival of the private and VIP planes of the participants within the World Economic Forum (WEF) annual meeting held in Davos, in Zurich, Switzerland on January 17, 2023.
Private jets at Zurich Airport during the WEF annual meeting in 2023. Michele Crameri/Anadolu Agency via Getty Images
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Private jets are descending on the typically quiet ski town of Davos as the masters of the universe make their way to Switzerland for the World Economic Forum.

Bill Gates, Nvidia's Jensen Huang, Microsoft CEO Satya Nadella, and JPMorgan Chase CEO Jamie Dimon are among the business leaders scheduled to attend, along with world leaders like French President Emmanuel Macron, Argentina's Javier Milei, and Donald Trump.

It's unlikely any of these titans will fly commercial.

Last year, private aviation traffic in the region during WEF week was about five times the usual level, with more than 150 jets landing at area airports, according to JetSpy, which tracks FAA-registered aircraft.

They were registered to billionaires like Michael Dell and Robert Smith, and hailed from Palm Beach and Dubai, Paris, and Doha.

This weekend, corporate jets owned by Google, BlackRock, and IBM were among those that arrived in the area, according to data from JetSpy.

Few WEF attendees will fly into Engadin Airport, the airport closest to Davos and the highest in Europe by altitude.

"For many years, the WEF week has actually been one of the quietest weeks of the winter season for us," Christian Gorfer, the airport's chief financial officer, told Business Insider in an email.

Due to airspace restrictions within a 25 nautical mile radius of Davos, all flights to and from Engadin require prior authorisation from the Swiss Air Force.

"Some of our regular customers do fly in and out during that week, but WEF participants generally do not make their way to [Engadin]," Gorfer said.

Instead, many private jets and government airplanes will arrive at the Zurich Airport alongside regular airlines. It's about a two-hour drive away from the Alpine town, but the wealthiest people will travel by helicopter instead.

The airport estimated there will be an extra 1,000 takeoffs and landings during the conference, with some landing after its typically strict curfew of 11:30 p.m. Zurich Airport is also extending the opening hours for an observation deck for planespotters and other aviation enthusiasts.

Others fly into Germany's Friedrichshafen Airport, a Jetspy spokesperson told Business Insider.

The jets will be a parade of some of the most expensive on the market.

Many opt for the Gulfstream G650, which costs tens of millions and was the transport of choice for attendees like Gates, Louis Bacon, and executives from BlackRock and Goldman Sachs last year. Others fly on the Bombardier Global 7500, which has been dubbed the "Ferrari of the Skies."

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Pete Syme
Pete Syme is an aviation reporter for Business Insider, based in London.He writes about all things related to the industry, from aviation safety and CEO interviews to route reveals and airplane tours. Pete also uses data for industry analyses and to visualize breaking news events.Before joining Business Insider in 2022, he graduated with an MA in Newspaper Journalism from City, University of London, and a BA in English from the University of Exeter.
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Madeline Berg
Madeline Berg is a correspondent at Business Insider, where she covers the wealthy, famous, and powerful. Her stories include analyses of some of the most well known billionaires, from Mark Zuckerberg to MrBeast, investigations into celebrity brands, and deep dives into figures like Jeffrey Epstein and Leon Black.Previously, she was at Forbes. Her work included cover stories on Tyler Perry and Shonda Rhimes, investigations into Kylie Jenner's beauty brand, and deep dives into Britney Spears' fortune. Madeline has also written for The New York Times, The New York Observer, and Racked. She regularly appears on panels, on television, and in documentaries discussing the entertainment industry and general business news.Contact her via email at mberg@insider.com or by phone, Signal, or WhatsApp at 914-420-4721. https://www.jkmperu.com/secure-news-tips.