Hong Kong billionaire to buy Boeing 787 for private use

Discussion in 'Wall St. News' started by S2007S, May 22, 2007.

  1. S2007S


    Hong Kong billionaire to buy Boeing 787 for private use

    NEW YORK (AFP) - Hong Kong billionaire Joseph Lau has ordered a Boeing 787 "Dream Lifter" as a private VIP jet in an order worth some 153 million dollars at list prices, the aircraft maker said Tuesday.

    The 787, whose first deliveries are set for next year, normally is configured to carry 250 to 300 passengers.

    But Boeing said it has received seven orders, including the latest from Lau, for Dream Lifters as so-called VIP aircraft or business jets.

    "The 787 VIP is an extremely attractive jet for wealthy and successful entrepreneurs, especially in Asia where business is conducted over long distances," said Boeing Business Jets president Steven Hill.

    "The 787 has it all -- long-range capability, advanced technology and a spacious, comfortable cabin -- attributes that are needed to conduct business around the world. We are honored by Mr. Lau's confidence in Boeing jets and his relationship with Boeing Business Jets."

    The VIP-configured 787-8 offers 223 square meters (2,404 square feet) of cabin space, according to Boeing.

    Self-made tycoon Lau, 55, who holds a majority stake in Chinese Estates Holdings, last year paid the highest amount ever for a work by pop art icon Andy Warhol, with the purchase of a portrait of Mao Zedong for 17.4 million dollars at auction in New York.

    Sometimes described as a playboy socialite, Lau has a fortune estimated by Forbes magazine of 2.1 billion US dollars and is ranked 458th among the world's richest people by the magazine.

    Lau spent more than 40 million Hong Kong dollars (5.1 million US) on 20 personalized car license plates.
  2. 5.1 million on license plates, is that even possible?
  3. LarryS


    Amazingly yes! In HK due to their traditions, they believe certain numbers are very auspicious so they go to auctions to receive the best license plates...it is bizarre but part of the culture.
  4. So this guy is buying this jet so he can spend the rest of his money on jet fuel?
  5. IF you have enough money no big deal . Not a big story.
  6. Yeah, I was looking into one of those, too. The salesman offered great financing but he wouldn't budge on my trade-in. That turned out to be the deal breaker. I hate when that happens.
  7. Not bad for a pied-à-ciel (not to be confused with a pied-à-terre), but I personally need to stretch out a bit more. Clearly, this fine gentleman is showing some restraint. You have to admire that.
  8. i'd take a supersonic gulfstream over boeing mumbo jumbo jets anyday
  9. I bought one too but had to return it because of faulty plumbing :)
  10. In a hurry, are you?
    #10     May 22, 2007