Well, of course. Rich people don't roll like that. Most of their money is actually on paper, tied up in their companies, real estate, etc. And they pay themselves a salary of a dollar a year.
Cash is for the little people, and apparently, just some stepping stone between barter in the feudalism days, and whatever the hell "digital currency" they have planned next.
Yes and no. We keep a lot more liquidity on hand than most because we spent so many years farming and it takes cash to run those operations when you're buying fuel 10,000 gallons at a time or seed or fertilizer or repairs we cycled through more cash in a year than most people will see in their entire lives. So we keep almost 20% of the estate in short term treasury funds that we can write checks on.
And now that we lease the land my father's income is 12x his living expenses and our ours is about 5x our living expenses. And with the market reaching 1929 levels of valuation, or overvaluation, we've just been putting the excess into those money market/short term treasury funds because something is going to give and it's going to make 2007/8 look like a blip.
This is a good video on the topic. TL;DW: lines of credit on relatively safe assets at very low rates given the high dollar value of the assets. You don't pay income tax because it's a loan not "income", and if your assets don't pay dividends you don't have regular taxable events on the assets themselves.
The no sick leave part does suck, though.
Oh agreed. Bezos is 100% an asshole who overworks and underpays his employees.
But he simply can't give his 1m employees 100k cheques as he doesn't have 1b of cash on hand.
Well, of course. Rich people don't roll like that. Most of their money is actually on paper, tied up in their companies, real estate, etc. And they pay themselves a salary of a dollar a year.
Cash is for the little people, and apparently, just some stepping stone between barter in the feudalism days, and whatever the hell "digital currency" they have planned next.
Yes and no. We keep a lot more liquidity on hand than most because we spent so many years farming and it takes cash to run those operations when you're buying fuel 10,000 gallons at a time or seed or fertilizer or repairs we cycled through more cash in a year than most people will see in their entire lives. So we keep almost 20% of the estate in short term treasury funds that we can write checks on.
And now that we lease the land my father's income is 12x his living expenses and our ours is about 5x our living expenses. And with the market reaching 1929 levels of valuation, or overvaluation, we've just been putting the excess into those money market/short term treasury funds because something is going to give and it's going to make 2007/8 look like a blip.
https://www.youtube.com/watch?v=NtUfNtgawNY
This is a good video on the topic. TL;DW: lines of credit on relatively safe assets at very low rates given the high dollar value of the assets. You don't pay income tax because it's a loan not "income", and if your assets don't pay dividends you don't have regular taxable events on the assets themselves.
Yes but he doesn't have 1b COH either.