Thursday, February 15, 2018

Carlyle Funds Founders' Private Jets

Private jets are used in the normal course of billionaire events.  The Carlyle Group paid $3.33 million for the use of Mr. David Rubenstein's private jet, $1.2 million for Mr. Daniel D'Aniello's and $479,586 for Mr. William Conway's.  Here's the DBD breakdown per Carlyle's recent SEC filing.

In the normal course of business, our personnel have made use of aircraft owned by entities controlled by Messrs. Conway, D’Aniello, and Rubenstein. Messrs. Conway, D’Aniello, and Rubenstein paid for their purchases of the aircraft and bear all operating, personnel and maintenance costs associated with their operation for personal use. Payment by us for the business use of these aircraft by Messrs. Conway, D’Aniello, and Rubenstein and other of our personnel is made at market rates, which during 2017 totaled $8,700 for Mr. Conway, $232,065 for Mr. D’Aniello, and $436,385 for Mr. Rubenstein. We also made payments for services and supplies relating to business use flight operations to managers of the aircrafts of Messrs. D’Aniello, Conway, and Rubenstein, which during 2017 aggregated $470,886 in the case of Mr. Conway’s aircraft, $972,397 in the case of Mr. D’Aniello’s aircraft, and $2,897,308 in the case of Mr. Rubenstein’s aircraft.
PEUs receive outsized benefits from President Trump's tax cuts.  Our White House billionaire clearly knows his constituency