This is well beyond your neighbour owning a Ferrari. It takes serious money to race in those leagues.
And if I recall correctly I remember seeing a video of him racing one of my personal favourites, an Aston Martin V12 Vantage (Could have been a DB9/DBS, can't recall exactly).
I would personally consider anyone who can drop six figures annually on a hobby filthy rich. The one's "living a good life" did the kind of racing I used to do, and the wealthy guys there only dropped 20-30k/ year racing around in parking lots.
Well the sports car in question is a one-off custom-build, purely for him, and rumoured to have cost a few millions of dollars. Not quite a private jet, but I would put that into "filthy rich"
Having your own private jet, is when you're filthy rich.