I toured a $96 million private jet. It's like a mini apartment and shows how extravagant flying has become for the 1%.

• Flexjet bought $96 million Gulfstream G700 private jets to fly the ultrarich. • The G700 is part of Flexjet's shared fleet, where one flight hour costs clients up to $20,000. • I toured the ultra-luxe plane, and it's like a flying penthouse with a bedroom and kitchen.

Flying economy from New York to London is one thing. Flying the same route on a private jet is another — and it's what the rich and famous are paying tens of thousands of dollars to do.

Leading this luxury market is the Georgia-based private jet manufacturer Gulfstream and its ultra-luxe G700. Its cabin is larger than many New York City apartments.

Billionaires like Elon Musk and Jeff Bezos bought a G700, while Homeland Security Secretary Kristi Noem reportedly spent $172 million on two for government use.

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