| Kenny Dichter | |
| Birth Date: | 16 January 1968 |
| Citizenship: | United States |
| Education: | University of Wisconsin (B.A., 1990)[1] |
| Occupation: | Founder of Wheels Up, Entrepreneur |
Kenny Dichter (born January 16, 1968)[2] is an American entrepreneur and founder of publicly traded aviation company, Wheels Up.[3] He also co-founded Alphabet City Sports Records, Marquis Jet, and Tequila Avión.
After graduating from the University of Wisconsin in 1990, Dichter founded Alphabet City Sports Records with friend Jesse Itzler.[4] The label focused on creating and selling songs that were frequently heard in sports stadiums and arenas.[5] [6] The firm was eventually sold to SFX Entertainment in 1998 for $4.3 million in cash and stock.
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.[7] In November 2010, Dichter sold Marquis Jet[8] to NetJets, a subsidiary of Warren Buffett's Berkshire Hathaway.[9]
Tequila Avión, a brand of tequila, was founded by Dichter and Ken Austin.[10] 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.[11] The company was acquired by Pernod Ricard for $100 million.[12]
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.[13] [14] In July 2021, Wheels Up became the first private-aviation company to publicly trade on the New York Stock Exchange.[15]
Dichter stepped down as CEO in May 2023[16] 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.[17] 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.”[18]