For most people looking in from the outside, it would seem like having a private jet is a pretty luxurious experience. There are no long lines to check in, no tripping over fellow passengers to visit the restroom, and no countless scrolls through the in-flight entertainment menu to find something worth watching.
But according to Shark Tank star Robert Herjavec, buying a plane isn't about the extra leg room. At least, that's not the primary goal. In an interview with CNBC Make It, Herjavec said he bought a plane to protect his most valuable asset: his time. It's the same reason he's willing to fork out $10 or $20 for valet service when he comes to Los Angeles.
"I can often save hours by flying private. There is no greater example of the cost of time than that, because every minute you are on a private plane costs money. I better be generating more with that minute than I am spending!"While Herjavec didn't reveal how much it costs for him to fly private, his comments make it clear the expense gives him extra motivation to make revenue while he's in the air. In addition to his role on Shark Tank, Herjavec is an investor in many businesses and founded the internet-security firm Herjavec Group. He's also an author and a one-time contestant on Dancing With the Stars. In that latter capacity, he found his new partner in life, pro dancer Kym Johnson, with whom he was paired for the competition. People revealed in December, 2017, that the now-married couple are expecting twins. This will be Johnson's first time becoming a mother, while Herjavec has three children from his first marriage.
Johnson kidded about how the family's new additions will affect their resident fur baby. She posted a picture of their dog on Instagram, next to a book called, Good Dog, Happy Baby.As for spending money to free up time, Herjavec was guarded in his comments to CNBC when it came to people with less flexible bank accounts. He held fast to the idea that people should understand that there's a value attached to their time as well as their cash on hand, however.
"Figure out what your time is worth. If you're on a fixed income, you should not spend the money, but if you have the opportunity to create greater value with your time than what you are going to spend on something, take advantage of gaining back the time."As a new father to twins, Herjavec may have less time than he's had in the past. But with money from his Shark Tank investments and his security company, he and Johnson may be able to buy some help.
Shark Tank airs Sunday nights on ABC.