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US Politics 10w
If I was a billionare id be chilling on my yacht and you would never see me, Elon Musks is such an insane person to exist
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8
upvote 15 downvote
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Anonymous 10w

I’d donate about 90% of it to Alzheimer’s research and pass on the rest to my kids

upvote 11 downvote
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Anonymous 10w

There's so many problems I could help solve it's absolutely insane that 90% of them just sit on their wealth

upvote 5 downvote
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Anonymous 10w

I think the issue is basically that it becomes like an addiction. They can’t stop working to amass wealth. They must do more

upvote 3 downvote
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Anonymous replying to -> #2 10w

A overwhelming majority of their wealth is in assets

upvote 1 downvote
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Anonymous replying to -> #3 10w

If they can spend 400 million on an election they can find a way to help people

upvote 4 downvote
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Anonymous replying to -> #3 10w

yes and they can effectively borrow against that 1:1 from a bank. this whole “billionaires have no actual money” thing is a bunch of crap.

upvote 1 downvote
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Anonymous replying to -> #5 10w

It doesn’t even have to be 1:1, they’re borrowing money so they’re essentially magnifying it (their gains and losses are magnified too)

upvote 1 downvote
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Anonymous replying to -> #3 10w

That’s actually the thing. Because they’re getting a loan and not selling their assets, they don’t need to pay capital gains tax (there’s no sale). They stay invested while having access to some cash as long as they don’t get margin called

upvote 1 downvote