Yes it is real. It's by FlyBoard that makes the jet packs that use water pressure to hover over water. It used four small jet engines and the backpack is a tank of kerosene. He has since crashed it. They are building another one. Apparently on a subsequent flight he ran out of juice 5 seconds from the dock. They also say it takes at least 100 hours of training on the water version to be able to control this new one.
Pretty cool - new toy for rich people.