Of course more people are flying private…
Loot at the number of fractional jet firms. They have bought hundreds of aircraft over the last decade and a half.

You see firms like Netjets sponsoring or adversing at high-end events.

And for those with money, just not as much, there are more jet charter firms with fleets of aircraft and a promise to subscribers that a jet will be where they need it in X-many hours.

I believe even airlines have gotten into the act with Biz jets.
So, in short, you don’t have to own/operate your own jet to fly private.

If I had that kind of money, I’d go the fractional jet route, it just makes more sense to let others share the capital cost of a jet and have experts take care of the crewing, basing, maintenance and insurance.