A Student Tried to Buy a $37 Million Fighter Jet From Pepsi for $700,000

In 1996, Pepsi ran one of the most memorable commercials of the decade. A teenager arrives at school wearing Pepsi-branded gear, all purchased with "Pepsi Points." The ad's climax: he lands a Harrier fighter jet on the school lawn. On screen, the text reads: "Harrier Fighter 7,000,000 Pepsi Points."

Someone Did the Math

Business student John Leonard noticed that Pepsi allowed customers to purchase points directly for 10 cents each. At that rate, 7 million points would cost just $700,000 — a fraction of the Harrier's actual $37 million price tag.

Leonard recruited investors, gathered the money, and mailed Pepsi a check for $700,008.50 along with 15 original Pepsi Points and an order form requesting one Harrier jet.

Pepsi Says No

Pepsi returned the check, stating the jet was "not part of the offer." Leonard sued. The case — Leonard v. PepsiCo, Inc. — went to the Southern District of New York.

Judge Kimba Wood sided with Pepsi, ruling that "no objective person could reasonably have concluded that the commercial actually offered consumers a Harrier jet." The commercial, the judge wrote, was "clearly done in jest."

The Aftermath

Pepsi re-aired the commercial with two changes: the jet's price was increased to 700 million points, and a "Just Kidding" disclaimer was added. The case became a landmark in contract law and a pop culture touchstone.

In 2022, Netflix released "Pepsi, Where's My Jet?", a four-part documentary series revisiting Leonard's audacious attempt. The story of a man who read the fine print and decided to hold a corporation to its word still resonates — even if the court disagreed.