As Strategy’s stock price continues to slide, dividend offers increase in value, and executives make the media rounds to fight narratives of possible solvency issues, online sleuths noticed that the company spent $27 million on a “deposit” for a new corporate jet.
It’s not known what the percentage of the total purchase the deposit is indicative of.
Strategy previously purchased one corporate jet in 2007 (delivered in 2009) and leased another in 2012 after its original corporate jet was catastrophically damaged when a hangar at Dulles airport collapsed due to excess snow.
The jet was eventually repaired and put back into service for the company.
The Bombardier 700 purchased by Strategy cost the company a total of $46 million (inflation-adjusted $72 million).
Read more: S&P 500 declines to add Strategy again
Unregistered, but probably fancy
While Strategy executives have relied on Bombardier 700s for decades, if they do choose to stick with the brand, it’s likely that the overall cost of the new jet will run north of $50-$75 million.
The initial deposit was listed in a mid-year quarter report and stated that the company had paid $22 million. This has since been updated and increased to $27 million as a deposit, likely due to customizations.
The jet has yet to be delivered or registered by Strategy, so it’s unclear what brand it’s going with or what range it will have.
When Strategy last purchased a jet, it spent twice its quarterly profit on the luxury item.
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Source: https://protos.com/strategy-stock-is-on-the-slide-but-at-least-it-bought-a-nice-new-jet/