In 2007 he founded Nextant Aerospace, specializing in the remanufacturing of business jets; and Constant Aviation, a leading and rapidly expanding MRO; followed two years later by the creation of Sojourn Aviation, an independent aircraft sales company. Maria directs the annual Philanthropy 50, a comprehensive report on Americas most generous donors. He is the principal of Directional Aviation Capital, which operates a family of private aviation companies, including Flexjet, Flight Options, Sentient Jet, Sky Jet, Nextant Aerospace, N1 Engines and Constant Aviation. The nonprofit has been involved with the company since 2000 and has poured about $200 million into its work developing drug therapies. [21][22], In June 2012 Directional acquired Sentient Jet. The honor comes after Ricci created a groundbreaking giving structure called a Philanthropic Succession Partnership to donate $100 million to the University of Notre Dame, the single largest unrestricted, guaranteed gift ever committed to the University. His love of aviation had him founding, acquiring or financing a broad range of aviation companies and ideas over his career. Life expectancy has tripled to age 37, and phase three of clinical trials has just been completed for a gene-therapy treatment for the double-gene defect that causes 70 percent of cases, including Austins. In 2017, he donated $100 million to Notre Dame, the largest donation in the school's history to that point. [31] By December 2021, it was announced that Zanites acquisition partner would be Eve Air Mobility, a subsidiary of Brazilian aerospace manufacturer Embraer working to bring to market the Eve electric vertical take-off and landing vehicle. Flexjet CEO Ken Ricci Models Gulfstream G650, Sikorsky S-76 On Bentley "I am deeply honored that the Living Legends of Aviation has elected me to membership in their class of 2019, joining men and women whose achievements in aviation I deeply admire," said Ricci. The deal could bring the university far more than $100 million if the value of Directional Aviation Capital grows sharply and the Riccis decide to increase the amount of the donation, said Mr. Ricci. Not NetJets: Directional Aviation Capital Is A Major Player In - Forbes Paradise Valley luxury mansion perched on Mummy Mountain sells for over $5M But as soon as he would eat, he'd throw everything up. Deciding enough was enough, he chose to go out on his own and make the lives of pilots like him much easier in doing so. As part of the first consolidation of its aviation companies, Directional Aviation combined the charter brokerage operations of its Flexjet, Flight Options and Sentient Jet companies under the Skyjet brand name, which it had acquired from Bombardier as part of the Flexjet transaction. Prestigious Aviation Award Named After Constant Aviation Chairman The broker will utilize 17 Bombardier aircraft coming off fractional contracts. or subscribe. When you show us that you know about us, that goes a long way, says Kenn Ricci, who has committed an unrestricted gift of $100 million to the University of Notre Dame. International Aviation HQ. It primarily supports Catholic groups; cystic fibrosis organizations; Able Flight, a charity that offers disabled people flight and aviation job training; and other human-service and education nonprofits. Mr. Ricci, 61, and Ms. Ricci, 54, plan to leave the university a controlling stake in Directional Aviation Capital, a holding company Mr. Ricci founded in 2003 to manage businesses such as Flight Options and FlexJet he founded or bought. This cookie is set by GDPR Cookie Consent plugin. In working closely with Notre Dames Office of Gift Planning, which has long been a leader in nonprofit funding innovation, we were able to solve a succession problem that many families face and also provide the means for Notre Dame to continue doing in the future what it does so well today. Do Not Sell. To access the call please . You also have the option to opt-out of these cookies. The pros are a university gets a big unrestricted gift thats very generous and sets the tone for other donors, said Ms. Heisman. Please make sure your computer, VPN, or As the first business model to offer digitally-enabled private jetbooking end-to-endwhen it launched in 2008, PrivateFly was initially UK-focused and has since developed multiple channels andcustomer bases worldwide. [35] He is a member of the Young Presidents' Organization. In October of 2017, Ricci and his wife announced a $100 million dollar unrestricted gift to Kenn's alma mater, The University of Notre Dame, via a giving and business succession model he developed called a Philanthropic Succession . The cookie is used to store the user consent for the cookies in the category "Analytics". Researched by Ebony Day of The Arizona Republic and The Information Market. Its makes us feel really good to have dinner with a fundraiser and hear about their love for what they do and their passion for their charity.. [16] In total, Flexjet has confirmed orders for 207 new planes with options that could total up to 445 aircraft. When Mr. Riccis youngest son was 6, he first said he wanted to give to Disney because he loved the movies; the couple then explained that wasnt what charity meant, and he eventually drafted a new concept. John and Cynthia McCaffrey paid cash through a trust for a two-story estate with stunning views in Scottsdales Desert Mountain community. Twidell and Cork will lead the combined entity, which will operate offices in both the United States and Europe. Directional's Kenn Ricci Launches A SPAC Targeting Next - Forbes After getting certified to fly Dassault Falcon, Cessna Citation and Gulfstream jets, Kenn found work as a pilot. Language links are at the top of the page across from the title. They intend to leverage the extensive infrastructure and assets available within the OneSky family of brands, which also includes Sentient Jet and Flexjet. Walls of glass, a libraryand a negative edge pool are among the luxurious features in some of theweekly priciest home sales in metroPhoenix. We connect brands with social media talent to create quality sponsored content. In 2005, Kenn led the restructuring of the Mercury Air Centers, a $200 million company operating aircraft support facilities at 24 different airports and sold the Company to Macquarie Infrastructure Trust (MIC) in 2007 in a deal valued at $615 million. Entrepreneur Birthday September 3, 1956. That same year, the turboprop Nextant G90XT achieved certification. Kenn founded Corporate Wings, an aircraft management, charter and fixed-base operation in 1980. This cookie is set by GDPR Cookie Consent plugin. "I am deeply honored that the Living Legends . Analytical cookies are used to understand how visitors interact with the website. Boost. All of them were involved in crafting the gifts they gave, he said, and every one of them could explain to you why were giving to that and what it means to them., A version of this article appeared in the. Aviation entrepreneur who has founded numerous companies, including Corporate Wings, Flight Options and Nextant Aerospace. We wanted our kids to have enough money to do something but not enough money to do nothing, said Mr. Ricci. Kenn Ricci is a longtime aviation executive, principal of privately held Directional Aviation Capital, a company . [27], Ricci also has founded or been involved with the management of several other companies, including Nextant Aerospace, which he serves as chief executive officer. Kenn Ricci (ACCT '78) remembers like it was yesterday, how his baby son Austin would wave his arms feverishly and practically leap out of his high chair when it was time to eat. Other uncategorized cookies are those that are being analyzed and have not been classified into a category as yet. Following the advice of Use your time in college to find your passion given to him by his father, as well as help him pay his tuition, Kenn got involved with the US Air Forces Reserve Officer Training Corps (ROTC) and learned to fly. He is one of the most respected names in the industry, having received . This newly unveiled gift contributes to the Boldly Notre Dame campaign announced by the University in August. Kenneth C. "Kenn" Ricci is an American aviation entrepreneur, the principal of Directional Aviation Capital, which owns or invests in various aviation enterprises including Flight Options and Flexjet, which he also serves as chairman. But soon after those beginnings, the industry changed and with it, new opportunities were born. More information on Kenn Ricci can be found here. What Was Barnstorming? Tom Mauro is the founder of Albi Homes Ltd., a Calgary, Alberta-based luxury home builder. [43], In 2017, Ricci was named a recipient of the Living Legends of Aviation Lifetime Aviation Entrepreneur Award. Hes an astute businessman, entrepreneur in the aviation industry and experienced pilot. [10] In March 2009, Directional Aviation Capital, an investment firm led by Ricci, and private equity firm Resilience Capital Partners, acquired an interest in Flight Options. But thats not the most surprising aspect of the donation. Mendoza Business Magazine - Kenn Ricci: Like Father, Like Son Kenn Ricci was born in 1956 in Cleveland, Ohio and grew up in a nearby suburb. Insiders trading at Zanite Acquisition. During the late 80s and early 90s he personally flew 600-700 hours per year as a pilot of Gulfstream G2 and Citation Jets, including concert tours and political campaigns. When Kenn and Pamela Ricci pledged $100 million to the University of Notre Dame in October, it .
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