Background
Richard T. Santulli was born in Brooklyn, New York on August 14, 1944.
Richard T. Santulli was born in Brooklyn, New York on August 14, 1944.
Bachelor of Science in Applied Math, Brooklyn Polytechnic Institute. Master of Science in Applied Math, Brooklyn Polytechnic Institute. Master of Science in Operations Research, Brooklyn Polytechnic Institute.
He is best known for pioneering the concept of fractional jet ownership with NetJets, a successful company he developed in 1986. Santulli was once considered by analysts as a possible successor to Warren Buffett at Berkshire Hathaway. He currently serves as Chairman of his latest venture, Milestone Aviation Group, a helicopter and business jet leasing company.
Santulli’s first job after graduating was with Shell Oil Company.
In 1984, Santulli purchased Executive Jet, a charter service company, as a wholly owned subsidiary of RTS Capital Services. The company launched NetJets, a program that introduced a "time-share" concept of fractional ownership (as previously seen in resort properties) to business jets, and then purchased eight Cessna Citation IIs.
Buffett had been a NetJets customer since 1995. Santulli stayed on as chairman and Chief Executive Officer until his resignation in August, 2009.
He remained a consultant for the company through August, 2010.
In December 2009, Santulli joined Loan Value Group as chairman of the board. In August 2010, Santulli launched Milestone Aviation Group, a helicopter and business jet leasing company where he currently serves as chairman. Santulli secured an initial $500 Million from United States. private-equity firm Jordan Company, in conjunction with Nautic Partners to launch the business.
Santulli serves as co-chairman of The Intrepid Sea-Air-Space Museum board of directors and chairman of the board for The Intrepid Fallen Heroes Fund.
He is director of Mercy Home for Children, a non-profit organization that provides residential, supportive and respite programs for individuals with developmental disabilities. In 1989, the Santulli Residence was established in Brooklyn, New York, to provide a residence with full-time care and support services to 15 people with disabilities.
Mr. Santulli serves as a Director of the Andre Agassi Foundation for Education, an organization dedicated to transforming United States. public education for underserved youth.
Santulli is also a trustee of the New York Racing Association, a steward of The Jockey Club and a member of the Breeders" Cup"s board of directors.
Married Peggy Santulli. 4 children.