Kenny Dichter
CitizenshipUnited States
Alma materUniversity of Wisconsin (B.A., 1990)[1]
Occupation(s)Founder of Wheels Up, Entrepreneur

Kenny Dichter is an American entrepreneur and founder of publicly traded aviation company, Wheels Up.[2] He also co-founded Alphabet City Sports Records, Marquis Jet, and Tequila Avión.

Career

Alphabet City Sports Records

After graduating from the University of Wisconsin in 1990, Dichter founded Alphabet City Sports Records with friend Jesse Itzler.[3] The label focused on creating and selling songs that were frequently heard in sports stadiums and arenas.[4][5] The firm was eventually sold to SFX Entertainment in 1998 for $4.3 million in cash and stock.

Marquis Jet

Dichter founded Marquis Jet in 2001, the first fractional card jet program. By 2007, the firm was turning over more than $700 million per year from its 3,500 customers.[6] In November 2010, Dichter sold Marquis Jet[7] to NetJets, a subsidiary of Warren Buffett's Berkshire Hathaway.[8]

Tequila Avión

Tequila Avión, a brand of tequila, was founded by Dichter and Ken Austin.[9] The brand was named the 'Best Tequila in the World' and 'Best White Spirit in the World' at the 2012 San Francisco World Spirits Competition.[10] The company was acquired by Pernod Ricard for $100 million.[11]

Wheels Up

A few years after the sale of Marquis Jet, Dichter re-entered the private aviation industry by founding Wheels Up. Rather than a fractional card program, Wheels Up is a membership-based business that charges users per flight hour without spending requirements or time commitments.[12][13] In July 2021, Wheels Up became the first private-aviation company to publicly trade on the New York Stock Exchange.[14]

Dichter stepped down as CEO in May 2023[15] with a Securities and Exchange Commission Form 8-K showing that he will continue to receive his $950,000 annual salary for two years and that he will remain a director on the company board, among other pay and benefits on departure.[16] Prior to an August 2023 $500 million funding round by Delta Air Lines for Wheels Up, Delta’s CEO Ed Bastian noted that “Kenny Dichter has done a masterful job over the last decade building a high-quality brand, great experience, a lot of new members.”[17]

See also

References

  1. ↑ "Awards - Kenny Dichter". University of Wisconsin. Retrieved 26 July 2019.
  2. ↑ "Experience Matters". wheelsup.com. Retrieved 2016-06-15.
  3. ↑ "Kenny Dichter '90". Wisconsin Alumni Association. 2008-03-01. Retrieved 2016-06-15.
  4. ↑ Billboard. Nielsen Business Media, Inc. 1997-05-17.
  5. ↑ Rosenthal, Seth. "The Tale of 'Go NY Go'". The Sports Section. Retrieved 2016-06-15.
  6. ↑ "Marquis Jet founder Kenny Dichter resigns from NetJets". Aviation International News. Retrieved 2016-06-15.
  7. ↑ Ginsberg, Leah. "How this founder convinced Warren Buffett to work with him—and built 2 multimillion-dollar businesses". CNBC. Retrieved 26 July 2021.
  8. ↑ "Berkshire's NetJets buys Marquis Jet card company". Reuters. 2010-11-04. Retrieved 2016-06-15.
  9. ↑ "This Marketing Strategy Was So Perfect, Customers Thought The Product Was Fake". HuffPost Live. Retrieved 2016-06-15.
  10. ↑ "Tequila Avion Wins World's Best White Spirit, World's Best Tequila, Double Gold and Two Silver Medals at the 2012 San Francisco World Spirits Competition". www.prnewswire.com. Retrieved 2016-06-15.
  11. ↑ "Pernod takes a $100M gulp of Tequila Avion". New York Post. Retrieved 3 October 2023.
  12. ↑ "Membership". wheelsup.com. Retrieved 2016-06-15.
  13. ↑ "INDIVIDUAL AND FAMILY". wheelsup.com. Retrieved 2016-06-15.
  14. ↑ Singh, Pia (2021-07-14). "Wheels Up CEO looks to transform private jet industry as company goes public via SPAC". CNBC. Retrieved 2022-04-29.
  15. ↑ "Wheels Up Founder Kenny Dichter Steps Down as CEO". Aviation International News. May 9, 2023. Retrieved May 9, 2023.
  16. ↑ Phelps, Mark (11 May 2023). "Outgoing Wheels Up Exec's Exit Package Includes Salary, Flight Privileges". Mark. Archived from the original on 12 May 2023. Retrieved 12 May 2023.
  17. ↑ "Wheels Up and Delta focused on growing corporate customers". Corporate Jet Investor. Retrieved 25 August 2023.
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