Why do these posts constantly think a Billionaire literally has a billion dollars sat in a bank like Scrooge McDuck.
Most of their ‘net worth’ is tied up in stocks, normally as part of the business they founded decades ago.
Sure, a billionaire likely does have many millions sat in a bank account and the point is valid, but please stop suggesting rich people have their entire worth in cash because it makes them sound better than they really are. Just look at Trump, he feeds off this misconception. He ain’t got anywhere near a billion dollars in cash until he sells his golden toilets.
Why do these posts constantly think a Billionaire literally has a billion dollars sat in a bank like Scrooge McDuck. Most of their ‘net worth’ is tied up in stocks, normally as part of the business they founded decades ago. Sure, a billionaire likely does have many millions sat in a bank account and the point is valid, but please stop suggesting rich people have their entire worth in cash because it makes them sound better than they really are. Just look at Trump, he feeds off this misconception. He ain’t got anywhere near a billion dollars in cash until he sells his golden toilets.
Why are you defending it? Got a trust fund waiting on you?
Doesn’t matter that they don’t have it in the bank. Banks will trip over themselves to lend them cash.