return2ozma@lemmy.world to Ask Lemmy@lemmy.world · 20 days agoWhat are your thoughts on billionaires?message-squaremessage-square119fedilinkarrow-up1109arrow-down121
arrow-up188arrow-down1message-squareWhat are your thoughts on billionaires?return2ozma@lemmy.world to Ask Lemmy@lemmy.world · 20 days agomessage-square119fedilink
minus-squareglimse@lemmy.worldlinkfedilinkarrow-up2·19 days agoWealth is not the same as having cash, that is true, but it’s effectively the same thing. They have cash on hand for any immediate need but if for some reason they need 200 million, it won’t take them long to cash out stocks or sell some property.
minus-squareilinamorato@lemmy.worldlinkfedilinkarrow-up2·edit-219 days agoOr, more likely, just borrow the money. Then they get to keep everything they have. They have plenty of stuff as collateral to secure it with.
Wealth is not the same as having cash, that is true, but it’s effectively the same thing. They have cash on hand for any immediate need but if for some reason they need 200 million, it won’t take them long to cash out stocks or sell some property.
Or, more likely, just borrow the money. Then they get to keep everything they have. They have plenty of stuff as collateral to secure it with.