Comment on The super-rich are disappointingly boring.

<- View Parent
people_are_cute@lemmy.sdf.org ⁨3⁩ ⁨months⁩ ago

$100B estate never means you’re sitting on a pile of $100B worth of cash. It just means you own stuff that’s currently worth $100B on paper, most of which you can’t actually sell because either the regulators won’t allow it, or even the mere idea would reduce a lot of its value.

Even if you had that much petty cash to burn at a moment’s notice, such antics will only end up having unpredictable consequences. A lot of Billionaires’ wealth is tied up with their reputation. The value of the stock they hold can go up or down solely based on their image and personal behaviour. If their investors or promoters stop viewing them as reliable, their value will plummet.

I don’t spend my money in stupid ways, despite having a relatively high disposable income. Yet I am, in fact, really human.

source
Sort:hotnewtop