PersonalFudge9059 t1_ixpka67 wrote
I don’t think most people who speak on billionaires know what they’re talking about. People like Bezos, Zuckerberg, Gates, Musk, they are worth “$xxx.xxx.xxx.xxx”, but that doesn’t mean they have all of that in the bank. About 95%-99% of their wealth is literally tied to their companies wealth in stocks/shares. They cannot sell any amount of shares without notifying other shareholders as he has to act in the best interest of them; Selling shares can effect the value of the shares held by shareholders, which they can sue him for. So, no, he doesn’t have, say, $80B at his disposal, or ever will. He’s much more likely to have tens to close to hundreds of millions of dollars at his disposal, but not billions. I don’t understand why no one can just accept good gestures when they’re given. Do any of you have $1.25M to hand out on a whim? Or even a fraction of that? No? That’s what I thought. Also, net worth is tied to other assets as well, such as property, jewelry, cars, other investments under his name, not necessarily cash locked in a vault somewhere.
sathingtonw t1_ixqqi3i wrote
Billionaires don't need to sell shares to spend. They go to a bank and get low interest loans against their assets. I don't think you understand the level of tax loopholes, accounting tricks, and cozy relationships with banks that become available when you have this level of wealth.
Elon Musk can spend 44B to buy twitter on a whim but Jeff Bezos really can't spend any money on anything he's just a small little guy. Cmon man.
PersonalFudge9059 t1_ixrdih0 wrote
Elon Musk had to get backing from multiple lenders, because he cannot, or ever will have 44B available to him. But donating 1.25M to any valuable charity is worth giving some amount of praise and thanks, because that is more than likely from his own pocket. Also, getting loans against your shares still lands you in the same hot seat as it would if you sold shares, why do you think Tesla shareholders were furious with Elon for that purchase? Because those shares will have to be sold at some point to pay the loan….
sathingtonw t1_ixuw9wy wrote
According to Reuters Musk borrowed 13B to buy Twitter so he personally paid like 31B. You're right, these billionaires are penniless 😢 it's so hard for them to get money! someone should be donating this soup kitchen money to them instead!
Listen, in a world where Jeff Bezos exists. I prefer to live in the one where the soup kitchen gets the money rather than not. But let's also not pretend he's doing this for any other reason than PR or some tax avoidance scheme.
razor_sharp_pivots t1_ixq7jmn wrote
You're right, this is why he can't pay taxes 🙄
😋🥾
JuggernautFabulous39 t1_ixqgosf wrote
The rich don't give from the goodness of their hearts,they give to get...they get tax breaks,they get to skirt more tax obligations for years even.hi is just doing for himself...not for others.he is a patronizing crooked person just like his butt buddy Trump! He should be giving fat more than a lousy 1.25 of American rax $$$ he owes way more!!!
nobletrout0 t1_ixq6dor wrote
I always thought uncle Jeff swam in his money like Scrooge mcduck
Different_Ad7655 t1_ixpy8yh wrote
What's your point that makes just a lot of crocodile tears lol. I think anybody understands this, except for perhaps the most basic rube, . Yeah he is sitting on his assessed value, net worth and not necessarily on a gold throne, well actually maybe some are,. But almost everybody's like that who has a 401k or lives in a house lol on a more modest level or has a business that they profit from. Just a very different scale.. But as you said he has plenty of cash, and things do get liquidated, estates do get settled and cash does get transacted. Ultimately the rubber does meet the road
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