Questions tagged [ultra-rich]

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1answer
116 views

How can increasing the max of SALT deductions from 10kUSD to 72.5kUSD cause an average tax cut of 145kUSD for the top 0.1% earners (>1MUSD) in the US?

I read an article from Fox Business (mirror 1, mirror 2) about the proposed change to the State and Local Tax (SALT) deductions: Under the latest proposal currently being considered by the House ...
2
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2answers
330 views

Billionaires, loans, and tax avoidance

Recent stories stemming from the ProPublica disclosure about billionaires and effective tax rates describes a strategy where billionaires borrow eye-popping sums of money, using their stock equity as ...
-6
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1answer
250 views

Is it even possible for billionaires to spend their money? [closed]

Even if they sold everything they're limited by regulations to a few percent per year. Since billionaires have maybe a few decades left to live its not even possible. If they donated shares then the ...
0
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2answers
188 views

Why is Jeff Bezos, and not his initial investor the richest person in the world? How does it work for Jeff Bezos? [closed]

I have always had a curiosity since a very long time about ordinary people who become very rich (millionaires, billionaires..). But I have a feeling that this is going to be a silly question, so ...
1
vote
4answers
622 views

Why do rich people prefer shares with dividend over bonds?

The first thing that came to my mind is because they can use their voting power, but then Warren Buffett started with shares (and then he didn't have enough voting power) and not bonds. Why do rich ...
1
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0answers
231 views

How do the ultra rich protect their money? [duplicate]

FDIC insures each account up to $250,000. A few billion / 250,000 = way too many bank accounts. So how do the ultra rich insure their fortunes?
37
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3answers
12k views

How do the rich and wealthy withdraw from accounts without leaving home?

I was at someone's house once and they made a phone call and had someone bring $50,000.00 cash to their home from one of their bank accounts. I think the person worked for the bank and wasn't a ...
10
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4answers
10k views

Do you have to be mega-rich to invest in companies pre-IPO?

Say there's a company which is known with certainty to be doing very well, but is privately held and is expected to go public within a few years. When such companies do investment rounds, are the only ...