Comment on But how would they be able to live on that?

• FlyingSquid@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

  Look at Trump. Doesn’t matter that all of his wealth is on paper and he’s in massive debt. Unless he’s in prison, he will die in the lap of luxury.

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  • BestBouclettes@jlai.lu ⁨4⁩ ⁨weeks⁩ ago

    That’s only because they let him do it, in a less corrupt country his ass would be in jail already.

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• faintwhenfree@lemmus.org ⁨4⁩ ⁨weeks⁩ ago

  Seriously, I saw some of besoz finances (which is a tiny sliver of the big pie) and he got a loan at 0.1% for $2m. Imagine that, and then he doesn’t even have to repay the loan. It’s just as long as he’d pay interest he’s A okay.

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  • Sylver@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

    That’s why they play a whole different game than us. He isn’t worried about paying back that interest or loan, he’s trying to find a way to make that $2m pay him back 1% or more per interest period. They never have to consider the loan amount, because those interest and payments will be done in 10 years while the profits from that loan will explode into hundreds of millions.

    See? Anyone can do it, it’s honestly really fucking easy to come up with a million dollar idea. The hard part is that first couple million dollars. If you aren’t born with it, you will literally never have access to that type of wealth.

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    • Promethiel@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

      You could write this in stone and metal on everything on earth; carve it into the very DNA of humanity. And still…

      A big subset of these leeching fucks and their admirers would still be on “but he’s so smart and if it so easy how come not every blah blah blah”.

      They really do mistake financial Inertia with intelligence; billionaires don’t actually need finance degrees the stupid fucks.

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• damnedfurry@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

  You have to pay loans back. Do you think lenders are in the business of handing out free money? They lend because they get a return–if they didn’t, there would be literally zero motivation to lend.

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  • BestBouclettes@jlai.lu ⁨4⁩ ⁨weeks⁩ ago

    Obviously they pay it back, but the assets used as collateral usually grow faster than the interests they have to pay back. Which is pretty much free money.

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