Topic: Where do billionaires keep their money? - page 3. (Read 2668 times)

Me too lol.

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.

I guess that they keep it in more places in different ways. Some in banks (Swiss or such), off shore, some in cash, some in gold and so on,

I thought this was going to be a joke based on the the thread title. Dissapointed.

Everywhere really, Not in one place for sure, i think they spread It as much as possible, in their companies , private banks , real estate, they invest somewhere. They know where to put them safely trust me..

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.  

Some of it in banks, for quick spending, many put most of their cash in precious metals, mostly in gold. Stocks of various companies is also an often used method to distribute the wealth. Maybe some of them invested a couple of ten thousands of dollars in Bitcoin.

Businesses, stocks, banks, Property, gold and I'm missing a lot, usually most of their money is stocks on a company or two they own, Bill Gates and MS for example

Yeah it's a big bad movie cliche though isnt it.

lol. Don't believe everything you see in the movies. Plus, Swiss banks are so 90s lol.

private company
stock
real estate
gold 
or maybe in swiss bank like in hollywood movies 

I wouldn’t advise putting all your savings into Bitcoin, but I think buying some and holding for a while will pay dividends, but as with all investments it's not without risk.

They own a lot of land, cars, precious metals and jewelry, art, boats, planes. The more you have the easier it is to keep it safe because you just can't have it all in one place, and if you lose part of it you're still filthy rich.

"Billionaires do not keep their money in one place. They have diversified portfolios, owning stocks, bonds, businesses, real estate, etc.
They definitely don't have a savings account sitting around with $1B in it. That's because inflation risk hurts the rich most of all. To keep their wealth from being worth less every year due to inflation, they need to put it to work by investing it, thereby earning more than inflation eats away at it.
But in addition to investing in diversified asset classes, the filthy rich also spread their money among multiple brokerages and financial advisors. That's to make sure that if one brokerage goes out of business or one financial advisor tries to steal their money, they won't lose everything.
One tool used a lot by the rich for estate planning is trusts. Trusts are legal entities (like a corporation or a non-profit or a real person) where the rich can put money outside of their estate. Wills can be contested in probate after you die, but trusts are much harder to fight in court.
In addition to keeping assets out of your estate, you can also use trusts to pay less taxes and to hide your assets. Want to give more money to one of your kids over the other without anyone knowing? You can't do that with a will, but you can with trusts.
A billionaire could have trusts set up for each family member, including some who don't exist yet like grandchildren and great-grandchildren. They could have trusts set up to give money to all their favorite charities. They could have a trust for their house and another for the family business. It can all get complicated pretty quickly.
How do the super-rich define their wealth? Well, they need to keep careful track of everything so that they can pay their taxes accurately. There's income tax on the streams of income they receive from any trusts. There are taxes on dividends and capital gains. There's the estate tax when you die, and there's the gift tax for anything you give away before then. The federal government lets you give anyone up to about $14K/year tax-free. Above that, you get a lifetime tax credit of $1M for gifts. But once you start giving people (or trusts) gifts above that, you need to start paying gift tax, so you always need to keep careful records so that you pay your taxes correctly.
Calculating net worth is usually not too difficult. There are liquid markets for valuing stocks and bonds. You can appraise a house or sports car or yacht to determine its value. It can get tricky if you own a privately-held business; those are difficult to value. They are lawyers whose entire job is to value such private business as little as possible for tax purposes (and vice versa for estate purposes).
But taxes are private; they're just between you and the IRS and your highly paid team of accountants, lawyers and financial advisors. How does say Fortune magazine know how much the richest people in the world are worth? They make educated guesses using whatever information they do have access to.
For example, Bill Gates's wealth comes from Microsoft, which is a publicly traded company. That means that his salary as CEO and Chairman for all those years is public information, as is how much MSFT stock and/or options he was given and how much he's sold. Real estate transactions are always public records.
Those methods for calculating net worth of the super-rich aren't perfect, of course. But the folks at Fortune do the best they can with the information they have access to, calculating all they can and making good guesses about the rest." - from Reddit thread about Billionaires.

Im assuming two kinds of "billionaires"


You have the conservative which I guess would keep in :

Bonds
"stable stocks" (you know, apple, google, etc.)
Swiss bank accounts because swag xD
Precious metals
Other currencies
Real estate
etc...


You have the more modern which I guess would keep in the same as stated above but would take a risk and invest in some more newer things, possibly cryptocurrency xD.

Swiss banks as I have seen in movies

Bonds, accounts investment plans etc. Many ways to invest.

More like bonds..

You can get bank insured accounts. Most billionaires or even multi-millionaires will put them in special high-interest accounts. You can live off the interest alone.

Bitcoin and Gold