LEWIS HAMILTON | Inside his $25,000,000 Private Jet | G-LCDH

G-LDCH Bombardier Lewis Hamilton private jet
Name:Lewis Hamilton
Country:UK
Net Worth:$200 million
Company:F1 race driver
Born:January 7, 1985
Spouse:Nicole Scherzinger (ex girlfriend)
Residence:London, UK / Monaco, MC
Jet Registration:G-LDCH
Jet Type:Bombardier Challenger 605
Year:2012
Jet S/N:5904
Price:$25 million

Who is Lewis Hamilton?

He is a Formula One racing driver, currently racing for the Mercedes AMG Petronas team. He was born in 1985. He has won 81 races.

He became Formula One World Champion 7 times (2008, 2014, 2015, 2017, 2018, 2019, 2020). Lewis’s father Anthony influenced his son’s love for racing cars and driving fast. By buying Hamilton a radio-controlled car in 1991. At the age of 10 Lewis won the British karting championship.

G-LDCH Jet

Hamilton was the owner of a Bombardier Challenger 605 private jet. The registration number is G-LDCH, which stands for Lewis Carl Davidson Hamilton. Formally the jet is registered to TAG Aviation  UK, part of Mansour Ojjeh’s TAG Group. The jet was sold to Nicky Lauda’s Laudamotion Executive company. It now flies with the registration OE-IXI.

TAG Group

The TAG Group is actually the owner of the McLaren Formula One Group, where Hamilton used to race.

Hamilton now races for the Mercedes F1 Team. So it’s not really clear why he is flying in a jet sponsored by his former employee.

Do you know more about Hamilton’s jet? Please send us a message. Mansour Ojjeh is a billionaire and owns a large yacht named Kogo.

McLaren

In 1998, Hamilton was signed by McLaren and the team’s partners Mercedes-Benz to become part of their Young Driver Support Programme. With the backing of McLaren, Hamilton won both European and World Karting titles.

In 2007 Hamilton started his first F1 season and set numerous records while finishing second in the Championship.

How Much Does Hamilton earn per year?

In 2019 en 2020 Lewis Hamilton is one of the highest-paid athletes. With earning estimated US$ 50 million.

In 2016 he signed a three-year contract extension to drive for Mercedes’ F1 team, which could earn him a total amount of US$ 140 million.

Lewis Hamilton Net Worth

His net worth is estimated at more than US$ 200 million.

Bombardier Challenger 605

The Bombardier Challenger is a business jet in production since 1978. It is produced by Canadair. Which is a division of Bombardier Aerospace.

The Challenger is a fast jet reaching a top speed of 540 mph. It is powered by two General Electric CF34-3B engines. The cabin seats up to 19 passengers. Although a 10 seating configuration is normal.

The jet has an intercontinental range. And features a deluxe galley and lavatory. A Challenger 604 comes at a list price of US$ 25 million. The cost of ownership are estimated at US$ 4 million per year. Or US$ 10.000 per hour.

VAT Issue

According to Paradise Papers documents Hamilton avoided tax on his GBP 16.5 million luxury jet. On the import of his jet a GBP 3.3 million VAT refund was given. Based on a  British Virgin Island Leasing structure.

Hamilton’s advisers formed a VAT-registered leasing business on the Isle of Man. The Isle of Man company was named Stealth (IOM) Limited. It leased the jet from Hamilton’s British Virgin Islands company. Which is named Stealth Aviation Limited, and imported it into the Isle of Man.

It was then leased on to a UK jet management comp. That provided Hamilton with a crew and other services. And which leased it back to Hamilton and his Guernsey company BRV Limited. Hamilton was allowed to claim a VAT refund on the GBP3.3 million. He was obliged to pay on the import.

Resources

http://www.forbes.com/profile/lewishamilton/

https://en.wikipedia.org/wiki/LewisHamilton

https://twitter.com/LewisHamilton

http://www.lewishamilton.com/

https://www.planespotters.net/Aviation_Photos/search.php?reg=G-LCDH

Lewis Hamilton