Elon currently owns two private jets: A Gulfstream G550 and a Gulfstream G650 ER. It is not clear if the new G700 will replace one of the two Gulfstreams, or if Elon will be adding this new jet to his fleet.
The Gulfstream G700 made its public debut last year in Qatar where it was introduced as the flagship business jet in the company’s line-up. The aircraft is an updated version of the Gulfstream G650, offering a bigger cabin size with an additional 10 feet and one inch of living space.
The extra 10 feet of cabin space is really the only difference between the G650 ER and G700. Both planes have the same 7,500 nautical miles range and same Mach 0.925 top speed. It’s currently the fastest private jet you can buy, at least until the Bombardier Global 8000 comes outs (that can do Mach 0.94). The G700 has a base price of $78 million.
You might wonder if Elon is looking for more space, why doesn’t he go for something really big, like a BBJ 787. Sure, it cost way more ($239 million excluding interior cost), but it’s not like Elon can’t afford it. The first reason is the jet is too big to land in smaller airports. The second reason is speed. The BBJ max speed is Mach 0.85. That means the G700 can beat the BBJ from the Austin Gigafactory to the Shanghai Gigafactory by one full hour. Time is money, especially when you’re Elon Musk.
“If I didn’t have my jet, I wouldn’t be able to work as much.” – Elon Musk