Why do privater jets often fly at or above FL 400, but large commercial aircraft are usually in the range of FL 300 to FL 400?
FL360 (plus or minus a bit) is the optimal altitude for fuel efficiency, which is the top priority for airlines. And airliners all fly at roughly the same speed (again, for fuel efficiency), so ATC can just line them up in a row and let them follow each other.
The problem is that level is severely congested with all those airliners. You can’t really get out of line or pass someone, which is another reason they’re all flying the same speed—and that has become a vicious cycle because Boeing and Airbus now design their planes to be most efficient at that speed.
Business jets passengers (and thus their operators) value speed over efficiency; if they didn’t, they’d use much cheaper airline flights. However, to avoid the airliner congestion around FL360, they have to climb to FL400 or higher, where they can fly faster and likely get a more direct route.