Where do billionaires keep their money? - page 2.

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Quote from: bryant.coleman on April 24, 2014, 08:33:28 AM

Quote from: ReBoRn on April 24, 2014, 06:41:40 AM

Yes most of them have not in cash they have in stock exchanges also and diamonds and gold are safe for them also

That is not true. Most of the billionaires maintain liquid cash reserves ranging in a few millions of dollars. I don't know whether they are keeping it in their own accounts, or their company accounts.

I think that it is better for them to keep it in the company accounts.

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well most of then has already invest their money to all other company to make it grow and have a lot of money

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Quote from: ReBoRn on April 24, 2014, 06:41:40 AM

Yes most of them have not in cash they have in stock exchanges also and diamonds and gold are safe for them also

That is not true. Most of the billionaires maintain liquid cash reserves ranging in a few millions of dollars. I don't know whether they are keeping it in their own accounts, or their company accounts.

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Quote from: leoragraves666 on April 23, 2014, 12:17:11 PM

They are mostly investing it, they don't keep fiat. They buy diamonds, gold, store them in a safe.

Yes most of them have not in cash they have in stock exchanges also and diamonds and gold are safe for them also

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Lots and lots of assets. Not just one $1 million house, but 4 $20 million houses. Not just one $4 million factory, but a chain of stores numbering in the hundreds which are worth $3 million apiece. Not just one $50K car, but a fleet of $50K cars that he uses or loans out to his employees or whatever. Tons of stocks, tons of bonds, tons of investment in money market accounts, tons of real estate investments, the list could go on and on.

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They are mostly investing it, they don't keep fiat. They buy diamonds, gold, store them in a safe.

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Quote from: oureptsC on April 23, 2014, 11:57:46 AM

In shady off-shore account on some nice places like Cayman Islands (The ones who don't like paying taxes).
Others just keep it in stocks,larger bank accounts and gold I suppose.

i think Cayman Islands is best for me i want to store some money there and some in bitcoins best option then stocks and shares Wink

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I'm gonna say they keep their money invested in bought off politicians. Off shore banks, swiss banks anywhere that can be considered a tax haven I guess.

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Quote from: oureptsC on April 23, 2014, 11:57:46 AM

In shady off-shore account on some nice places like Cayman Islands (The ones who don't like paying taxes).

Somewhere I read that a total of $30 trillion is stashed up in off-shore accounts. That is almost two times the GDP of the US. And the main destinations are Switzerland, UAE, Bermuda, Channel Islands, St Kitts - Nevis and UK Virgin Islands, in addition to the Cayman Islands.

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In shady off-shore account on some nice places like Cayman Islands (The ones who don't like paying taxes).
Others just keep it in stocks,larger bank accounts and gold I suppose.

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Quote from: hackjack on April 22, 2014, 11:05:41 AM

Since 250k is the limit on FDIC insured money in a savings account, where do billionaires keep their savings in a way that's safe?

When keeping money, you actually losing it slowly because of inflation higher than bank interest. So the trick to remain wealthy is having as little money as possible and put all to properties, business, stocks, precious metals and so on.

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They would have most of their money in investments and assets. You can't quite give an exact net worth since the stock market is constantly changing and land values change over time as well. I'm no expert on this but I'd say that most of their money is tied into non-monetary assets. This would include land, companies, and things like hedge funds or stocks and bonds

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Quote from: RodeoX on April 22, 2014, 01:50:13 PM

I don't think a billionaire thinks about money they think about wealth. Money is for poor people, real wealth is real estate, gold, businesses, etc. It's not like a billionaire carries a wallet.

This, paper is paper and will reach it's true value with in 20 years I bet.

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Quote from: bryant.coleman on April 23, 2014, 03:35:43 AM

Quote from: cp1 on April 22, 2014, 02:45:11 PM

They keep them in many places. Wasn't it Mitt Romney that forgot to report like 3 million he had in a swiss bank account? Money in so many places you forget about it, like one would forget they had $20 in their coat pocket.

lol... no one forgets about $3 million USD in hard cash. You may forget $20 on your coat pocket. But there is no way that you are going to forget about the millions you have stashed in a bank account. Also, as per my understanding, the richer a person gets, the greedier he becomes. A perfect example is ..... Mark Karpeles.

Yes this is correct. The more money you have, you want even more = infinite loop.

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Quote from: cp1 on April 22, 2014, 02:45:11 PM

They keep them in many places. Wasn't it Mitt Romney that forgot to report like 3 million he had in a swiss bank account? Money in so many places you forget about it, like one would forget they had $20 in their coat pocket.

lol... no one forgets about $3 million USD in hard cash. You may forget $20 on your coat pocket. But there is no way that you are going to forget about the millions you have stashed in a bank account. Also, as per my understanding, the richer a person gets, the greedier he becomes. A perfect example is ..... Mark Karpeles.

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Quote from: jinjuro on April 22, 2014, 11:15:47 AM

Most of those money is in stocks, capitals and in hard assets. Only a small percentage is in banks and in cash.

True they would not trust them that or in Government Bonds perhaps and using those bonds to sway policy in their favor

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Quote from: platorin on April 22, 2014, 04:59:08 PM

Quote from: cp1 on April 22, 2014, 02:45:11 PM

They keep them in many places. Wasn't it Mitt Romney that forgot to report like 3 million he had in a swiss bank account? Money in so many places you forget about it, like one would forget they had $20 in their coat pocket.

Wish I had problems like that, lol.

Yeah, not when the IRS comes after you for 'forgetting' to pay all that tax you're evading and throw you in jail. I'm taking Romney didn't get any jail time though given the fact that he's Mitt Romney?

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Quote from: cp1 on April 22, 2014, 02:45:11 PM

They keep them in many places. Wasn't it Mitt Romney that forgot to report like 3 million he had in a swiss bank account? Money in so many places you forget about it, like one would forget they had $20 in their coat pocket.

Wish I had problems like that, lol.

Topic: Where do billionaires keep their money? - page 2. (Read 2614 times)