• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 

1

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year

2

Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'

3

Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
PoliticsDonald Trump

The jet Qatar gave Trump is valued around $400 million. It might cost taxpayers $1 billion just to upgrade it to presidential standards

By
Stuart Dyos
Stuart Dyos
Weekend News Fellow
Down Arrow Button Icon
By
Stuart Dyos
Stuart Dyos
Weekend News Fellow
Down Arrow Button Icon
May 23, 2025, 7:01 AM ET
President Donald Trump waves goodbye aboard Air Force One
President Donald Trump aboard Air Force OneBRENDAN SMIALOWSKI—AFP/Getty Images
  • The Boeing 747 Qatar donated to the Air Force One fleet costs roughly $400 million when new, but outfitting the jet to fit presidential requirements may cost up to $1 billion, according to experts. The Qataris have had trouble trying to sell the aircraft as 747s have fallen out of popularity within the aviation industry and are no longer manufactured. 

While President Donald Trump flaunts his $400 million Qatari airplane, touted to be the newest member of the Air Force One fleet, experts say it could cost $1 billion just to bring the jet up to presidential standards. 

Recommended Video

In addition to ethical concerns over the Qatari-owned Boeing 747 becoming the largest foreign gift ever received by the U.S. government, Sen. Tammy Duckworth said the jet could also cost up to 10 figures in taxpayer dollars to operate within the Air Force One fleet. 

“Far from saving money, this unconstitutional action will not only cost our nation its dignity, but it will force taxpayers to waste over a billion dollars to overhaul this particular aircraft, when we currently have not one, but two fully operational and fully capable Air Force One aircraft,” the Illinois Democrat said in a statement to multiple outlets.

One expert puts that figure higher: Richard Aboulafia, a managing director at aviation consulting firm AeroDynamic Advisory, said converting the aircraft into an Air Force One jet would cost billions and take years. 

“You’re taking a 747, disassembling it, reassembling it, and then jacking it up to a very high level,” Aboulafia told NBC News.

In order to secure the jet for presidential use, it would have to be examined for any listening devices and outfitted with communications equipment and missile defense systems. These costs would accumulate at least $1 billion, current and former Pentagon officials told The New York Times.

White House officials have said the government is looking into partnering with government contractor L3Harris to maintain the jet, the Times reported. The cost of the reported deal has not been public. 

L3Harris declined Fortune’s request for comment.

As the jet’s upgrades will take a couple years, the government has already paid Boeing for two new Air Force One jets projected to be completed by 2027. 

“That’s a better dollar value than trying to take an airplane from somebody else and trying to make it into a presidential plane. It makes no sense,” Marc Foulkrod, an aerospace engineer who had tried to help Doha sell the jet, told The New York Times.

Meanwhile, the price tag for a crew on a traditional Air Force One jet reaches more than $37 million annually, while the total operating cost sits at roughly $134 million per year, according to Pentagon documents.

A White House spokesperson said, “It has been stated time and time and time and time again this was donated as a gift to the DoD and the Air Force” and referred Fortune to the DoD for further comment. The DoD declined to comment.

Prior to offering the jet to the U.S., the Qataris had been unsuccessful in finding a suitor for the Boeing 747. Foulkrod said while the plane is in great condition, it’s hard to find a buyer for a VIP styled-aircraft. 

“You might find that one-off guy that has a super ego that wants to buy one and ride around in it,” Foulkrod said.

Commercial airlines lacked interest in the jet because 747s are no longer manufactured and are falling out of popularity among the aviation industry, and the jet was too lavishly outfitted to be suitable for commercial use.

Subscribe to Fortune Gulf Brief. Every Tuesday, this new newsletter will deliver clear-eyed, authoritative intelligence on the deals, decisions, policies, and power shifts shaping one of the world’s most consequential regions, written for the people who need to act on it. Sign up here.
About the Author
By Stuart DyosWeekend News Fellow

Stuart Dyos is a weekend news fellow at Fortune, covering breaking news.

See full bioRight Arrow Button Icon

Latest in Politics

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Politics

Trump AI and crpto czar David Sacks sits next to Meta CEO Mark Zuckerberg at a dinner table in the White House as Zuckerberg turns to Sacks and says something.
AIAmerican Politics
Tech billionaires convinced Trump to back off an AI executive order. But much of MAGA favors AI regulation
By Jeremy KahnMay 22, 2026
5 hours ago
f
PoliticsCongress
‘You kind of ruined it with your trans obsession’: House points fingers as Smithsonian Women’s museum funding fails
By Lisa Mascaro and The Associated PressMay 22, 2026
11 hours ago
kirk
North AmericaSocial Media
Fired bird conservationist settles with state of Florida over Charlie Kirk dispute for $485,000
By Hannah Schoenbaum and The Associated PressMay 22, 2026
11 hours ago
pizza
PoliticsRestaurants
‘Earth-shaking event for New York pizza’ looms as flour ban hits 80% of crusts citywide
By Jake Offenhartz and The Associated PressMay 22, 2026
11 hours ago
cox
CommentarySuccession
McKinsey studied 200 family business successions. The biggest problem wasn’t the heir — it was the outgoing CEO
By Acha Leke and Chaitali MukherjeeMay 22, 2026
14 hours ago
zohran
PoliticsWorld Cup
Mamdani’s campaign for cheap World Cup tickets delivers 1,000 for city of 8 million
By The Associated PressMay 21, 2026
1 day ago

Most Popular

Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
Success
Jeff Bezos wants the bottom half of earners to pay zero income tax—he says nurses making just $75K should save $12K a year
By Preston ForeMay 21, 2026
1 day ago
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
Success
Despite a $500 million net worth, Shaq just finished his fourth degree. He warns graduates: 'Your character will take you further than your resume'
By Preston ForeMay 20, 2026
2 days ago
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
Workplace Culture
Bolt CEO says he let go of his entire HR team for creating problems that didn’t exist: ‘Those problems disappeared when I let them go’ 
By Preston ForeMay 19, 2026
3 days ago
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
Workplace Culture
Pay transparency is exposing a bigger problem: Most companies can't explain why they pay what they pay
By Sydney LakeMay 20, 2026
2 days ago
McKinsey partner says up to 50% of work hours could be transformed within the next 5 years
AI
McKinsey partner says up to 50% of work hours could be transformed within the next 5 years
By Emma BurleighMay 21, 2026
1 day ago
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
Success
Indeed chief economist says we’re entering an era of ‘great mismatch’ thanks to a generational imbalance of workers
By Emma BurleighMay 22, 2026
10 hours ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.