It’s all bullshit anyway as nobody with $500M would just leave it sitting around liquid/as cash. That’d generate around $40M a year in interest by just investing it in basic shit and getting an average return.
Well I wouldn’t say “nobody” it matters how many billions you got…
For example Bezos keeps 5% of his wealth (currently 9.5B) in cash. I assume that’s cash and equivalents… but who knows.
I think I would too. He could live the entire rest of his life on 9B making zero interest and losing value to inflation.
Right now $9.5 billion in Treasury Bills can make you $484 million per year. Enough to buy a yacht or pay a massive civil penalty, depending on who you are.
That’s the best thing about Trump not being able to scrape together $460 million. Any real billionaire would just get a loan and pay it off with the income from their investments over time. Never sell good assets unless it’s for more money.
Trump has no good assets that he hasn’t already mortgaged. So no bank will lend to him. He’s probably fucked. We’ll see on Monday.
Most likely bonds (as you said, cash equivalents). When you get to a certain level of wealth, instead of paying taxes, you lend that same money to the government and receive interest on it.
And/or because it’s hidden away in some tax haven under somone else’s name.
I wouldn’t trust a word of it myself.
