Jetset is not any new term and had been originated in the 50s for the very first time. It was associated with the rich and prosperous people and denoted their way of living. It was a journalistic term and media provided it hype. Initially, it was not a very popular term and combined only a few people who were really having the sufficient sum. It was also used very first time to portray a global social group of well-off people who could afford all they wanted. Those who traveled freely in their own jets where included in the group. It was not any formal group though and comprised people who afford to take all the amenities without any problem. 

It stood for the affluent people and their way of organizing and taking part in social activities all around the world. For taking part, they had to travel far-off places and they did it in style by owning their own jet rather than embarking on the public one. Moreover,   it illustrated their way of living and depicted the life which was almost out-of-the-way to commonplace people. It came in the light in place of another word which was holding the same meaning. Café society was initial term for the very same purpose with the same meaning.  Lifestyles and traveling from one stylish or exotic place to another via jet airplanes by the people who had enough wealth to support this led to the origination of the word.

In the 50s, some elite strata of people made huge sum and almost created a panic by way of their lavish spending abilities. This stunned the journalist who went crazy and coined an entirely new phrase to denote such people. This spurt in the money offered a new way of life to the certain people who earned the sum. More wealth created new avenues as well as well as destinations to dispose the money and traveling off-shore was among them.  For traveling cause, they acquired their own vehicle which was unthinkable till that time.

The people owning it traveled far-off places along with family and kids to socialize and avail all the beauty of life. It remained as an exclusive terms and could not reach in the general conscience. As, it was aimed at certain people and such numbers of people are low and far in between, so the term could not attained wide recognition as was expected and restricted to a certain class. The percentage of people who use their private vehicle is less and in some cases, almost nothing more than the fractions. So, jetset is almost obsolete term which rarely gets attention, though has its significance though.