Hi comrades, I'm new here, how do we feel about posting Mastodon content on Lemmy?
this post was submitted on 14 Jun 2023
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If you have $10 billion is STOCKS (which is what ALL of these billionaires have, NOT cash)… then even if you sell your stocks you’ll end up with WAY less because of how the stock market works. Also taxes.
Let's say you only get 10% of the value, which is a massive stretch. What's 10% of $10 billion? $1 billion. That is still an absolutely insane amount of wealth.
The point "they don't have as much as you think" is meaningless, because the amount they do have is still exceptional. There's no functional difference past a certain threshold.
No, no, you borrow against it, so that you don't lower your asset's value.