Of all the status symbols out there that billionaires could use to flaunt their wealth, owning a private jet may be one of the most lavish choices. Billionaires, such as Richard Branson and Elon Musk, are often known for their crazy purchases. When you can afford to spend US$80 million a year on average, you have the luxury of being able to pay millions on items that the average person could never dream of. Common purchases among billionaires are private planes. Having a private jet for quick and easy travel may be especially valuable for high-powered executives and investors who may need to be on the other coast that same day. Check out some of the world’s notable technology billionaires who own private jets. Who joins Jeff Bezos as one of the 7 richest retail billionaires? Amazon CEO Jeff Bezos, the richest man in the world, owns an aircraft through his holding company, Poplar Glen. Bezos' Gulfstream G650ER jet, which seats eight people, cost an estimated US$65 million. Investor Mark Cuban owns three jets. The billionaire said in a 2017 interview that owning a private plane was his “all-time goal” because “the asset I value the most is time – and that bought me time”. Cuban actually put himself in the Guinness Book of World Records – or Guinness World Records as it is now know – when he bought his first jet, a Gulfstream V jet, in 1999. The US$40 million purchase set the record for the largest single internet transaction. Meet François Pinault, owner of Christie’s and founder of Kering In addition to his Gulfstream V, Cuban owns two Boeing business jets. He bought a Boeing 757 to act as the private transport for the Dallas Mavericks, the American NBA basketball team he has owned since 2000. He also owns a 767 that he rents out for chartered flights. Microsoft co-founder Bill Gates has said his private jet is his “guilty pleasure” and his “big splurge”. Who are the 13 Malaysians on the new Forbes World’s Billionaires List? Gates reportedly owns a Bombardier BD-700 Global Express – a jet that can seat up to 19 people and costs an estimated US$40 million. Yet Bill Gates is not the only early Microsoft executive to buy a private plane with his billions. Charles Simonyi, a Hungarian software developer, oversaw the creation of Microsoft Office software until he left the company in 2002. In addition to owning a 233-foot (70-metre) yacht, Simonyi also owns a Dassault Falcon jet. Flying in the Earth’s atmosphere hasn't been enough for Simonyi though: he's been on two trips to the International Space Station – in 2007 and 2009. ‘Free Fire’ game creator earns a spot on the world’s billionaires list Oracle founder Larry Ellison is known for his lavish spending and often unusual behaviour. Ellison is an avid sailor and a licensed pilot. His son, David, is a stunt pilot who has been flying with his father since he was 13. Not only does Ellison own a Hawaiian island and a yacht racing team, but he also owns two military fighter jets: a decommissioned Soviet MiG-29, and an SIAI-Marchetti S. 211, previously used by the Italian air force. The United States government has reportedly kept Ellison from flying the MiG-29 in America, because it's “considered a firearm”. The late Steve Jobs, co-founder of Apple, once owned a Gulfstream V that seats up to 15 people. The company gave him the private jet, and 10 million company shares, in lieu of a pay rise in 2002. Yet Jobs’ plane didn't leave the Apple “family”. Jony Ive, Apple’s revered head of product design, bought the plane “at a significant discount” from the former CEO’s widow, Laurene Powell Jobs. Ive helped Jobs to design the plane and once joked that, “at least I don't have to redesign anything”. Who are South Korea’s 6 richest billionaires? Elon Musk, CEO of Tesla and SpaceX, has owned private planes since he launched his companies in the early 2000s. He once owned a 1994 model Dassault Falcon 900 with seating for 12, but records show it was put up for sale in 2016. Musk now owns a Gulfstream G650ER. Musk’s use of private aircraft became the centre of controversy in January when the CEO reportedly logged 150,000 miles (240,000km) in 2018 aboard his US$70 million Gulfstream G650ER. Tesla paid US$700,000 to cover Musk's extensive air travel. Musk “once piloted aircraft himself when he was in the process of launching Tesla and SpaceX, but he decided to stop flying planes because of his responsibilities to his children and his companies”. In a 2008 interview, Musk said he used to fly a cold war-era Aero L-39 Albatros military jet, a six-seater Piper Meridian M500 and a Cessna Citation CJ2. Why billionaire yacht owners worry about keeping their art safe at sea Virgin Group founder Richard Branson is well-known for his lavish investments, including a 74-acre (30-hectare) Caribbean resort called Necker Island, a million-dollar underwater submarine and an amphibious vehicle. Branson owns a Dassault Falcon 50 EX, which he uses to fly to and from his private island in the British Virgin Islands. He previously had a Falcon 900 EX, but said he needed a smaller aircraft for life in Necker Island. For longer trips, Branson takes flights on Virgin Atlantic, his commercial airline company, so he can “spend time with the staff and passengers”. Branson's interests in sky travel are not limited to aircraft, though. He became the first man to cross the ocean in a hot-air balloon in 1987, he flew 50 yards (45 metres) in an air glider – modelled on the world’s first aircraft – in 2003, and plans to put tourists in space via his commercial space flight company, Virgin Galactic. How a US$16-a-month Chinese factory worker became a billionaire Google's massive success and growth has given its two founders, Sergey Brin and Larry Page, each a net worth of more than US$50 billion. The two have invested heavily in a private fleet of planes through their shared holding company, Blue City Holdings. The Google founders bought their first aircraft in 2005 – a Boeing 767-200 commercial airliner – from the Australian airline Qantas for US$15 million. Then they spent another US$10 million on redesigning the interior to make it into a private jet that can hold 50 people. It was reported in 2012 that the two Google co-founders, along with former CEO Eric Schmidt, own eight planes. The fleet includes two Gulfstream Vs, a Boeing 757 and a Dassault/Dornier Alpha Jet fighter plane. What’s it like to spend US$1 million as a billionaire’s luxury stylist? Yet the Google co-founders don't just own private planes – they have their own private terminal as well, which they bought in 2013. The terminal is located at the San Jose International Airport, in California, cost US$82 million to build. It is operated by Signature Flight Support, and can be used by other businesses and executives in the Silicon Valley area. Which luxury jets took the elite to Davos for this year’s World Economic Forum? Google also operates a second airfield, through the company's property subsidiary Planetary Ventures. It took over the reins of Moffett Field, a civil military airfield in California, in 2014 from Nasa, the US Space agency, which will lease it out to the technology company for the next 60 years. Before that, Google’s co-founders paid Nasa an annual fee of more than US$1 million to house their private jets in one of Moffett Field's hangars. Yet Page's interest in flying vehicles stretches beyond private jets. He has invested in two different start-ups – Kitty Hawk and Opener – that are both working on flying cars. Want more stories like this? Sign up here . Follow STYLE on Facebook , Instagram and Twitter This article originally appeared on Business Insider .