Comment on But how would they be able to live on that?
John_McMurray@lemmy.world 5 months agoI said every.penny he has, not every dollar if he sold every asset today.
Comment on But how would they be able to live on that?
John_McMurray@lemmy.world 5 months agoI said every.penny he has, not every dollar if he sold every asset today.
dream_weasel@iusearchlinux.fyi 5 months ago
Sorry I guess then I don’t understand the distinction you’re making? It’s not as though stocks are not liquid (or that margin loans are not) or that stocks are all funny money. I suppose if the tax rate was so exorbitant that selling stock would tank the share prices these ultra wealthy folks are holding them I see your point. I don’t think these numbers are that high though.
I agree if you’re saying that the cash-out net worth of these people is lower than their market valuations, but I doubt that it’s so much lower that they are no longer ultra rich. Besides, stocks are still assets to borrow against which is how the game is played at that level, so while the number is “fake” it’s also kinda not.
John_McMurray@lemmy.world 5 months ago
Jesus bud. That was not a complicated statement. Your type never knows what to do with those.