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flexi_boy t1_j9rrngp wrote

Reply to comment by Diet_Coke in MLB-required upgrades to The Diamond could cost city $3.5M by PercyDovetonsils

That’s not really how net worth works… “estimated net worth” just means appraised value of all properties and assets. Wealthy people do not usually keep a whole lot in the way of liquid assets (cash, gold, etc). Whatever is liquid, is likely slated to be spent on upcoming bills/payrolls/cost of living expenses. Very rich people tend to live on “relatively” tight budgets.

Yes, he could easily mortgage a property or something but I’m just trying to say it’s not necessarily that cut and dry. Charles Johnson doesn’t have 6.1 billion sitting in the bank.

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chihuahua001 t1_j9t4e6r wrote

Billionaires use SBLOCs to buy whatever they want. The idea that they’re illiquid and incapable of spending a few million dollars whenever they want is a myth they perpetuate to avoid being held accountable for how they’re all terrible leeches on the rest of us.

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flexi_boy t1_j9tcmmm wrote

Hmm, TIL. Thanks, that does make sense they would have a way to leverage assets without liquidating..and makes sense they would want to conceal it.

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