If you're looking to spend some cash on a status symbol, don't even bother with yesterday's Jaguar and Concord -- instead be the first on your block to own the new Airbus 380. Having one of these jumbo jets is on par with owning your own island, and probably about as expensive.

Saudi Prince Alwaleed bin Talal spent an undisclosed amount (though companies spend more than $300 million) to be the first person to own an A380. Bin Talal is the 13th richest person in the world according to Forbes, with assets adding up to more than $20 billion.

Bin Talal hasn't disclosed any plans for the jet, but really the sky is the limit. Dubbed the "Flying Palace," the A380 has 5,930 sq. ft of floor space and can be outfitted with cocktail bars, casinos, showers and sleeping quarters.

What would you do with a jet this large?

Gallery: Inside the Airbus A380

Filed under: Saudi Arabia, Airlines, Transportation