15 hours ago15 hr Even if we assume that these are assets, he's still got way more money than he actually needs. Surely?Feel free to correct me if I'm wrong on any of that. That's what I've seen people say about billionaires; that they don't have billions in actual money.
14 hours ago14 hr 2 minutes ago, Hassaan said:Even if we assume that these are assets, he's still got way more money than he actually needs. Surely?Feel free to correct me if I'm wrong on any of that. That's what I've seen people say about billionaires; that they don't have billions in actual money.True, most of the super-rich's wealth is in a company's assets, or other stock, equities, investments of various kinds and any other kind of financial asset. Vast majority of it is illiquid, they don't have ready access to instantly withdraw it all and spend $X billion and for company owners like Musk, keeping it illiquid so he retains majority share control over his allegedly public company is the most important use of this wealth. Direction of the company controlled by shareholders? Not if he can outvote anyone else who has a share.
13 hours ago13 hr 1 hour ago, Iz様 🌟 said:True, most of the super-rich's wealth is in a company's assets, or other stock, equities, investments of various kinds and any other kind of financial asset. Vast majority of it is illiquid, they don't have ready access to instantly withdraw it all and spend $X billion and for company owners like Musk, keeping it illiquid so he retains majority share control over his allegedly public company is the most important use of this wealth. Direction of the company controlled by shareholders? Not if he can outvote anyone else who has a share.But what the rich do is take out massive loans using their large assets as collateral. Allowing them to borrow millions/billions. But as the money is part of a loan etc it isn't subject to tax... One way they are able to avoid paying large amounts of tax
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