64 votes
Accepted

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

Many services are available to people who are wealthy enough to use private banks. The linked Wikipedia article says: ...banking services (deposit taking and payments), discretionary asset ...
Mike Scott's user avatar
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16 votes

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

This is a facility called Home Banking, which banks in some locations offer. You do not necessarily have to be super-rich to use it though. Kotak Mahindra Bank has been offering it here in India for ...
Masked Man's user avatar
8 votes

Billionaires, loans, and tax avoidance

You don't have to be a billionaire to do this. I have a business that is accumulating some money because I pay myself only what I need. Then I decided I wanted to buy something quite expensive. I ...
Kate Gregory's user avatar
  • 13.2k
7 votes

Why do rich people prefer shares with dividend over bonds?

I don't think rich people will prefer shares(stocks) with dividend or even bonds. Because in both these cases they will need to pay taxes. I think rich people will prefer non dividend paying , high ...
mina's user avatar
  • 550
5 votes

Billionaires, loans, and tax avoidance

Larry Ellison with a nearly $10B line-of-credit secured by Oracle stock What I don't understand is how these loan positions get closed out. Are they merely deferring taxes for some number of years, ...
RonJohn's user avatar
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4 votes

Is it even possible for billionaires to spend their money?

Almost everything you write in the question is nonsensical. There are no regulations dictating how people spend their money. People can and do buy consumer items worth hundreds of millions of dollars (...
DJClayworth's user avatar
  • 33.4k
3 votes

Why do rich people prefer shares with dividend over bonds?

The question seems to assume that bonds and stocks are nearly perfect substitutes for each other. They are not. They are exposed to different risks (market risk vs. interest rate risk, primarily) and ...
farnsy's user avatar
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2 votes
Accepted

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

And the investors, hence, got the majority share in the company (like 95% or so) and the remaining an be considered to be possessed by Jeff Bezos (who had little money to contribute in it) Why would ...
mhoran_psprep's user avatar
2 votes

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

Consider Jeff Bezos. He was just like anyone else (financially). Ah, SERIOUSLY? As per wikipedia: His last job pre Amazon "He worked there from 1988 to 1990.[32] He then joined D. E. Shaw & ...
TomTom's user avatar
  • 11.5k
2 votes

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

Anyone who has that kind of money to blow probably has a CPA with a power of attorney who could provide such a service. I don't have that kind of money but I do have a CPA with a POA who would gladly ...
I wrestled a bear once.'s user avatar
1 vote
Accepted

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?

The 145kUSD tax cut assumes that the SALT deduction cap is removed, and not increased to 72.5kUSD as Fox News incorrectly wrote. Source (mirror 1, (mirror 2): Who would benefit from removing the cap ...
Franck Dernoncourt's user avatar
1 vote

Why do rich people prefer shares with dividend over bonds?

Generally, all securities on the market can be analyzed for their dividends vs growth potential, and this is called Value on the high-dividend end, and Growth on the low-to-no dividend end; of course ...
Aganju's user avatar
  • 37.7k

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