No, ultra rich people hide their identities through a corporation, not a trust. When you purchase large capital items with a bank’s help, the ownership usually looks like that. If you finance the aircraft as an ultra rich person, the ownership will probably also look like that. It’s completely normal and is a large proportion of aircraft ownership structures. A double-digit percentage of pretty much all major carriers’ fleets are titled in this way. Just like your payoff quote with your bank, when an airline finishes paying, the title is transferred. This arrangement will explain all but one or two of the trustees that will appear on this camera for the entire time it exists.
So if your car is titled to a bank because you have a loan on it, would you say you’re ultra rich and hiding your identity? I’m with you on the rah-rah eat the rich vibe but at least make sure you’re shooting downrange.
I've had the misfortune of being in banking much of my life and met many POS rich people that do this kind of stuff. Trust's most certainly can be used to hide your identity. Banks are more than willing to let rich people leave their names in the bank trust as a service to hide their identity. Trusts are not used as a financing product, they are a wealth management tool.
I'll give you a challenge. Find another vehicle title that has "trust" on it other than a yacht or private jet. Time saver, you won't.
It's to hide the owners identity. I don't know why people are arguing with me about this. Trust's are a wealth management tool that provide a number of services including hiding a persons identity.
You are correct that private jets are often owned by organizations including trusts in order to obscure their true ownership, but many of the jets on this site that are labeled as being owned by 'something something Trustee' are in fact commercial airliners owned and operated by major airlines, which seems to be pretty common. Here are some that I found in just a few seconds of clicking planes in the air over my own state on ADS-B Exchange:
My grandfather had his house and car in a trust for years so when he died, everything immediately went right to my mom. There was some concern about ex-wives and dirtbag relatives trying to take things in probate so a trust helped keep everything safe. He wasn't that wealthy but he had enough in assets that it was worth hiring a lawyer to draw up the trust.
Both of you are making valid points, I don't get why either is seen as an argument. Your original comment was one with a strong sense of anger at the rich, and it is not misplaced. People and corporations hide their wealth with many different instruments, and one step to achieving equity would be to put all of this in the open.
So if your car is titled to a bank because you have a loan on it, would you say you’re ultra rich and hiding your identity? I’m with you on the rah-rah eat the rich vibe but at least make sure you’re shooting downrange.