Where do the ultra rich keep their money?

Caper · 4th April 2012, 09:23 AM

I know it's a bit if a weird question. But where would someone like Bill Gates keep his money? Would he have like 400 million available in his checking account? He has like 50 billion or something. Would he have a few billion sitting in some high interest savings account earning like 3 % a year like you or me would..... I mean that could be like 300 million in a year for just sitting there..... Would you have to pay income tax on that money?

Besides buying weird art for insane prices.... What do the rich do with their money?

aggle-rithm · 4th April 2012, 09:27 AM

Originally Posted by Caper

I know it's a bit if a weird question. But where would someone like Bill Gates keep his money? Would he have like 400 million available in his checking account? He has like 50 billion or something. Would he have a few billion sitting in some high interest savings account earning like 3 % a year like you or me would..... I mean that could be like 300 million in a year for just sitting there..... Would you have to pay income tax on that money?

Besides buying weird art for insane prices.... What do the rich do with their money?

They keep it in a secret vault guarded by specially trained crocodiles with frickin' laser beams attached to their heads.

aggle-rithm · 4th April 2012, 09:28 AM

Seriously, though, most wealth isn't in cash, but in various investments. Savings accounts could be one option, but you don't get rich by being that conservative with your money.

The Central Scrutinizer · 4th April 2012, 09:38 AM

Stocks, bonds, real estate, cars, mansions, yachts, art, etc.

Psi Baba · 4th April 2012, 09:43 AM

Switzerland.

timhau · 4th April 2012, 10:02 AM

Seriously though, Yahoo Finance tells us that Bill Gates owns 500,981,726 shares of Microsoft. That's worth somewhere north of $15.5 billion today; I don't know where the rest of his money is, but $15.5 billion is big money even by Bill Gates standards.

I assume his savings account is pretty impressive too, but it's not likely to be a major part of his assets. There's no need to be, either -- Microsoft pays a $0.20 quarterly dividend which adds up to real money if you hold half a billion shares, so cash is a renewable resource for him.

theprestige · 4th April 2012, 12:48 PM

Originally Posted by timhau

I assume his savings account is pretty impressive too, but it's not likely to be a major part of his assets. There's no need to be, either -- Microsoft pays a $0.20 quarterly dividend which adds up to real money if you hold half a billion shares, so cash is a renewable resource for him.

Meh. It's only about $400,000,000 per year.

Saule · 4th April 2012, 01:03 PM

They keep it in a portfolio.

Sir Robin Goodfellow · 4th April 2012, 08:41 PM

I say in a shoebox under the bed, or perhaps in a pickle jar buried in the yard.

Warmer1 · 5th April 2012, 04:08 AM

I love the statistic that he would lose money picking up a $1,000 bill.

Puppycow · 5th April 2012, 04:15 AM

Originally Posted by Psi Baba

Switzerland.

This. As far as cash money is concerned.

But mostly in investments.

TragicMonkey · 5th April 2012, 05:07 AM

Their butts, of course. It's nature's hiding place.

LarianLeQuella · 5th April 2012, 06:23 AM

Sorry, the common folk are not allowed to know this information. They have special protections for their money that are not accessible to anyone below a certain income level, who could actually benefit individually a great deal more from this protection than some of the ultra rich.

I think the biggest scam the rich have pulled off on people is that so many common folks think that they realistiacally have a chance to become ultra rich themselves, and as such they should strive to protect these special benefits for them in case they ever get into the billionare club...

The Central Scrutinizer · 5th April 2012, 06:34 AM

Originally Posted by LarianLeQuella

Sorry, the common folk are not allowed to know this information. They have special protections for their money that are not accessible to anyone below a certain income level, who could actually benefit individually a great deal more from this protection than some of the ultra rich.

I think the biggest scam the rich have pulled off on people is that so many common folks think that they realistiacally have a chance to become ultra rich themselves, and as such they should strive to protect these special benefits for them in case they ever get into the billionare club...

Example?

NewtonTrino · 5th April 2012, 07:45 AM

Obviously most of Bill's wealth is tied up in MS and this is the case for most Billionaires, they usually own a lot of stock in something.

For small amounts of cash (like 10's of millions) they likely work with a bank that can move it into commercial paper until it's needed. Businesses do this kind of stuff all the time for short term working capital and the banks have special staff and systems to cater to moving money around to various accounts. So say you have $5M in working capital and you have a few million in expenses a month. You can part that money in commercial paper (that makes slightly better interest than a bank account) and then move it over to your checking account right before it's needed. There is no reason high net worth individuals couldn't use similar strategies for managing liquid capital.

timhau · 5th April 2012, 03:59 PM

Originally Posted by NewtonTrino

Obviously most of Bill's wealth is tied up in MS

Actually, not any more. Bill Gates is worth over $60 billion, but his stake in Microsoft is worth 'only' some $15 billion.

BTW, since he is a Microsoft insider, his MSFT trades are public knowledge. He's been selling millions and millions of MSFT shares; he's probably selling whenever it's legal for an insider to sell.

NewtonTrino · 5th April 2012, 04:23 PM

Originally Posted by timhau

Actually, not any more. Bill Gates is worth over $60 billion, but his stake in Microsoft is worth 'only' some $15 billion.

BTW, since he is a Microsoft insider, his MSFT trades are public knowledge. He's been selling millions and millions of MSFT shares; he's probably selling whenever it's legal for an insider to sell.

He's been diversifying for many years which is only smart. I didn't realize he was that out of the stock but it makes sense at this point.

Caper · 5th April 2012, 04:34 PM

Ok. If Bill Gates would get an income off his shares in Microsoft, would he pay income tax on that money?

NewtonTrino · 5th April 2012, 05:00 PM

Originally Posted by Caper

Ok. If Bill Gates would get an income off his shares in Microsoft, would he pay income tax on that money?

Currently microsoft is paying about $0.2 per share every quarter. In roundish numbers I think Bill owns around 1 billion shares so he would be getting $200M a quarter now in dividends. This would then be taxed at the dividend tax rate.

If he sells any of them he would pay capital gains which is probably the same rate as the dividend rate. His basis is pretty close to zero so he would pay tax on pretty much the entire proceeds.

This assumes he isn't using any tax dodges like giving the money to charity

timhau · 6th April 2012, 01:20 AM

Originally Posted by NewtonTrino

Currently microsoft is paying about $0.2 per share every quarter. In roundish numbers I think Bill owns around 1 billion shares so he would be getting $200M a quarter now in dividends.

Yeah, if you round it up to the closest billion, it's 1 billion. As per the link I posted, at the end of January 2012, he had 500,981,726 shares.

geni · 6th April 2012, 01:54 AM

Originally Posted by NewtonTrino

Obviously most of Bill's wealth is tied up in MS and this is the case for most Billionaires, they usually own a lot of stock in something.

First generation certainly.

Quote:

For small amounts of cash (like 10's of millions) they likely work with a bank that can move it into commercial paper until it's needed. Businesses do this kind of stuff all the time for short term working capital and the banks have special staff and systems to cater to moving money around to various accounts. So say you have $5M in working capital and you have a few million in expenses a month. You can part that money in commercial paper (that makes slightly better interest than a bank account) and then move it over to your checking account right before it's needed. There is no reason high net worth individuals couldn't use similar strategies for managing liquid capital.

Possible but unlikely. If there is any group of individuals that treats amounts of over 10 million as a small amount of cash it's pretty hard to trace (a few memebers of the house of saud maybe). Predictable expenses would probably be better handed through a company in any case (large house with multiple staff for example).

Of course billionaires are pretty much those by defintion who could afford to hold a few million in a current account without worring about lost earnings.

Further down the scale there are ultra high net worth individuals but while there is some info on their portfolio approaches there isn't much on their day to day spending mechanisms.

lionking · 6th April 2012, 01:59 AM

I'm astounded to see that Gates has sold about $1b of his Microsoft stock. What's he investing in, Apple?

The Central Scrutinizer · 6th April 2012, 05:26 AM

Originally Posted by lionking

I'm astounded to see that Gates has sold about $1b of his Microsoft stock. What's he investing in, Apple?

His foundation.

sam81292 · 6th April 2012, 01:18 PM

Basically they just think of numbers in their heads and claim thats how rich they are.

timhau · 6th April 2012, 01:33 PM

Originally Posted by sam81292

Basically they just think of numbers in their heads and claim thats how rich they are.

That's just Donald Trump.

The_Animus · 6th April 2012, 01:47 PM

I'm a Fillionair!

theprestige · 6th April 2012, 02:58 PM

Originally Posted by lionking

I'm astounded to see that Gates has sold about $1b of his Microsoft stock. What's he investing in, Apple?

Originally Posted by The Central Scrutinizer

His foundation.

http://www.gatesfoundation.org/Pages/home.aspx

--
ETA: Apparently I'm the only person who believes that being on the Internet means never having to ask for basic information.

uruk · 12th April 2012, 11:59 AM

Originally Posted by lionking

I'm astounded to see that Gates has sold about $1b of his Microsoft stock. What's he investing in, Apple?

Actually MS, untill recently, owned a 150 million non-voting shares of Apple.

dudalb · 12th April 2012, 03:56 PM

Originally Posted by timhau

http://th08.deviantart.net/fs24/300W..._vikung_fu.jpg

Seriously though, Yahoo Finance tells us that Bill Gates owns 500,981,726 shares of Microsoft. That's worth somewhere north of $15.5 billion today; I don't know where the rest of his money is, but $15.5 billion is big money even by Bill Gates standards.

I assume his savings account is pretty impressive too, but it's not likely to be a major part of his assets. There's no need to be, either -- Microsoft pays a $0.20 quarterly dividend which adds up to real money if you hold half a billion shares, so cash is a renewable resource for him.

Dammit it, beat me to the Scrooge Mc Duck reference....

defaultdotxbe · 12th April 2012, 05:27 PM

Originally Posted by dudalb

Dammit it, beat me to the Scrooge Mc Duck reference....

^ this

Staffsknot · 12th April 2012, 06:34 PM

If I knew, I would be ultra rich.

Earthborn · 13th April 2012, 12:33 AM

Originally Posted by aggle-rithm

Seriously, though, most wealth isn't in cash, but in various investments. Savings accounts could be one option, but you don't get rich by being that conservative with your money.

Or in other words: the ultra rich don't keep their money, they lend it out. At interest.

It is not so different for most of us ordinary rich people. It is not so much that I "keep" my money at the bank, but rather that the bank has a debt to me, which they can repay me bit by bit by paying for my groceries every time I use my PIN card, or by giving me money at the cash machine.

Keeping money is for poor people.

timhau · 13th April 2012, 01:33 AM

Originally Posted by Staffsknot

If I knew, I would be ultra rich.

Actually, it's the other way around. Yeah, the ultra-rich do have access to some investment vehicles that us mere mortals don't, like semi-closed funds with steep minimum investments, but they're generally not designed to make their clients rich (because they already are). I assume preserving capital has to be high on the priority list (unless the fund manager is Bernie Madoff or Allen Stanford).

Skepticemea · 13th April 2012, 02:25 AM

No one's said "The Ultra Bank" yet?

timhau · 13th April 2012, 02:40 AM

Originally Posted by Skepticemea

No one's said "The Ultra Bank" yet?

Confession time: I googled it. Results were interesting. Hits include totally legit, transparent and trustworthy wealth management services, like the one that has one employer (pictured on the front page wearing a frown and a cheap suit) who uses a gmail account for business.

Madoff and Stanford were ruthless scammer bastards, but at least they had some class. If you didn't know the names, which one sounds most like a scam, Bernard L. Madoff Investment Securities LLC, The Stanford Financial Group, or Ultra High Net Worth Advisors?

Skepticemea · 13th April 2012, 02:49 AM

Originally Posted by timhau

Confession time: I googled it. Results were interesting. Hits include totally legit, transparent and trustworthy wealth management services, like the one that has one employer (pictured on the front page wearing a frown and a cheap suit) who uses a gmail account for business.

Madoff and Stanford were ruthless scammer bastards, but at least they had some class. If you didn't know the names, which one sounds most like a scam, Bernard L. Madoff Investment Securities LLC, The Stanford Financial Group, or Ultra High Net Worth Advisors?

Big Bern and The Cricketer's Wife Groper? I know them and their work.

timhau · 13th April 2012, 03:25 AM

The point is, they were successful conmen because their businesses didn't have "SCAM" written all over them.

4th April 2012, 09:23 AM	#1
Caper Master Poster Join Date: Jun 2007 Posts: 2,946	Where do the ultra rich keep their money? I know it's a bit if a weird question. But where would someone like Bill Gates keep his money? Would he have like 400 million available in his checking account? He has like 50 billion or something. Would he have a few billion sitting in some high interest savings account earning like 3 % a year like you or me would..... I mean that could be like 300 million in a year for just sitting there..... Would you have to pay income tax on that money? Besides buying weird art for insane prices.... What do the rich do with their money?
Caper Master Poster Join Date: Jun 2007 Posts: 2,946

4th April 2012, 09:27 AM	#2
aggle-rithm Ardent Formulist Join Date: Jun 2005 Location: Austin, TX Posts: 14,149	Originally Posted by Caper I know it's a bit if a weird question. But where would someone like Bill Gates keep his money? Would he have like 400 million available in his checking account? He has like 50 billion or something. Would he have a few billion sitting in some high interest savings account earning like 3 % a year like you or me would..... I mean that could be like 300 million in a year for just sitting there..... Would you have to pay income tax on that money? Besides buying weird art for insane prices.... What do the rich do with their money? They keep it in a secret vault guarded by specially trained crocodiles with frickin' laser beams attached to their heads.
	__________________ To understand recursion, you must first understand recursion. Woo's razor: Never attribute to stupidity that which can be adequately explained by aliens.

4th April 2012, 09:28 AM	#3
aggle-rithm Ardent Formulist Join Date: Jun 2005 Location: Austin, TX Posts: 14,149	Seriously, though, most wealth isn't in cash, but in various investments. Savings accounts could be one option, but you don't get rich by being that conservative with your money.
	__________________ To understand recursion, you must first understand recursion. Woo's razor: Never attribute to stupidity that which can be adequately explained by aliens.

4th April 2012, 09:38 AM	#4
The Central Scrutinizer Penultimate Amazing Pither Join Date: Dec 2001 Location: The White Zone Posts: 42,266	Stocks, bonds, real estate, cars, mansions, yachts, art, etc.
	__________________ If I see somebody with a gun on a plane? I'll kill him.

4th April 2012, 09:43 AM	#5
Psi Baba Homo Skepticalis Join Date: Aug 2001 Location: Occupying my barstool Posts: 3,178	Switzerland.
	__________________ Save Caribbean Rum! (seriously)

4th April 2012, 10:02 AM	#6
timhau NWO Litter Technician Join Date: May 2004 Location: East of Sweeden Posts: 9,658	Seriously though, Yahoo Finance tells us that Bill Gates owns 500,981,726 shares of Microsoft. That's worth somewhere north of $15.5 billion today; I don't know where the rest of his money is, but $15.5 billion is big money even by Bill Gates standards. I assume his savings account is pretty impressive too, but it's not likely to be a major part of his assets. There's no need to be, either -- Microsoft pays a $0.20 quarterly dividend which adds up to real money if you hold half a billion shares, so cash is a renewable resource for him.
	__________________ When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord, in his wisdom, doesn't work that way. I just stole one and asked Him to forgive me. - Emo Philips

4th April 2012, 12:48 PM	#7
theprestige Philosopher Join Date: Aug 2007 Posts: 8,568	Originally Posted by timhau I assume his savings account is pretty impressive too, but it's not likely to be a major part of his assets. There's no need to be, either -- Microsoft pays a $0.20 quarterly dividend which adds up to real money if you hold half a billion shares, so cash is a renewable resource for him. Meh. It's only about $400,000,000 per year.
theprestige Philosopher Join Date: Aug 2007 Posts: 8,568

4th April 2012, 01:03 PM	#8
Saule Scholar Join Date: Mar 2012 Posts: 102	They keep it in a portfolio.
Saule Scholar Join Date: Mar 2012 Posts: 102

4th April 2012, 08:41 PM	#9
Sir Robin Goodfellow Master Poster Join Date: Jan 2007 Location: Estevan (wear da fox hat) Posts: 2,751	I say in a shoebox under the bed, or perhaps in a pickle jar buried in the yard.

5th April 2012, 04:08 AM	#10
Warmer1 Thinker Join Date: Dec 2009 Location: Queasyville Catatonic State USA Posts: 219	I love the statistic that he would lose money picking up a $1,000 bill.

5th April 2012, 04:15 AM	#11
Puppycow Penultimate Amazing Join Date: Jan 2003 Location: Japan Posts: 15,722	Originally Posted by Psi Baba Switzerland. This. As far as cash money is concerned. But mostly in investments.
	__________________ “Some men are born mediocre, some men achieve mediocrity, and some men have mediocrity thrust upon them. With Major Major it had been all three.” ― Joseph Heller, Catch-22

5th April 2012, 05:07 AM	#12
TragicMonkey Poisoned Waffles Pither Join Date: Jun 2004 Location: Monkey Posts: 30,067	Their butts, of course. It's nature's hiding place.
	__________________ One cannot expect wisdom to flow from a pumpkin.

5th April 2012, 06:23 AM	#13
LarianLeQuella Elf Wino Join Date: Nov 2008 Location: 3rd Rock from the Sun Posts: 1,995	Sorry, the common folk are not allowed to know this information. They have special protections for their money that are not accessible to anyone below a certain income level, who could actually benefit individually a great deal more from this protection than some of the ultra rich. I think the biggest scam the rich have pulled off on people is that so many common folks think that they realistiacally have a chance to become ultra rich themselves, and as such they should strive to protect these special benefits for them in case they ever get into the billionare club...
	__________________ My crappy blog that no one should be forced to read. Ever... But I like traffic and comments, so have at it if you please. Larian LeQuella Armyn ab Treanid

5th April 2012, 06:34 AM	#14
The Central Scrutinizer Penultimate Amazing Pither Join Date: Dec 2001 Location: The White Zone Posts: 42,266	Originally Posted by LarianLeQuella Sorry, the common folk are not allowed to know this information. They have special protections for their money that are not accessible to anyone below a certain income level, who could actually benefit individually a great deal more from this protection than some of the ultra rich. I think the biggest scam the rich have pulled off on people is that so many common folks think that they realistiacally have a chance to become ultra rich themselves, and as such they should strive to protect these special benefits for them in case they ever get into the billionare club... Example?
	__________________ If I see somebody with a gun on a plane? I'll kill him.

5th April 2012, 07:45 AM	#15
NewtonTrino Illuminator Join Date: Jul 2007 Location: Bothell, WA Posts: 3,782	Obviously most of Bill's wealth is tied up in MS and this is the case for most Billionaires, they usually own a lot of stock in something. For small amounts of cash (like 10's of millions) they likely work with a bank that can move it into commercial paper until it's needed. Businesses do this kind of stuff all the time for short term working capital and the banks have special staff and systems to cater to moving money around to various accounts. So say you have $5M in working capital and you have a few million in expenses a month. You can part that money in commercial paper (that makes slightly better interest than a bank account) and then move it over to your checking account right before it's needed. There is no reason high net worth individuals couldn't use similar strategies for managing liquid capital.

5th April 2012, 03:59 PM	#16
timhau NWO Litter Technician Join Date: May 2004 Location: East of Sweeden Posts: 9,658	Originally Posted by NewtonTrino Obviously most of Bill's wealth is tied up in MS Actually, not any more. Bill Gates is worth over $60 billion, but his stake in Microsoft is worth 'only' some $15 billion. BTW, since he is a Microsoft insider, his MSFT trades are public knowledge. He's been selling millions and millions of MSFT shares; he's probably selling whenever it's legal for an insider to sell.
	__________________ When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord, in his wisdom, doesn't work that way. I just stole one and asked Him to forgive me. - Emo Philips

5th April 2012, 04:23 PM	#17
NewtonTrino Illuminator Join Date: Jul 2007 Location: Bothell, WA Posts: 3,782	Originally Posted by timhau Actually, not any more. Bill Gates is worth over $60 billion, but his stake in Microsoft is worth 'only' some $15 billion. BTW, since he is a Microsoft insider, his MSFT trades are public knowledge. He's been selling millions and millions of MSFT shares; he's probably selling whenever it's legal for an insider to sell. He's been diversifying for many years which is only smart. I didn't realize he was that out of the stock but it makes sense at this point.

5th April 2012, 04:34 PM	#18
Caper Master Poster Join Date: Jun 2007 Posts: 2,946	Ok. If Bill Gates would get an income off his shares in Microsoft, would he pay income tax on that money?
Caper Master Poster Join Date: Jun 2007 Posts: 2,946

5th April 2012, 05:00 PM	#19
NewtonTrino Illuminator Join Date: Jul 2007 Location: Bothell, WA Posts: 3,782	Originally Posted by Caper Ok. If Bill Gates would get an income off his shares in Microsoft, would he pay income tax on that money? Currently microsoft is paying about $0.2 per share every quarter. In roundish numbers I think Bill owns around 1 billion shares so he would be getting $200M a quarter now in dividends. This would then be taxed at the dividend tax rate. If he sells any of them he would pay capital gains which is probably the same rate as the dividend rate. His basis is pretty close to zero so he would pay tax on pretty much the entire proceeds. This assumes he isn't using any tax dodges like giving the money to charity

6th April 2012, 01:20 AM	#20
timhau NWO Litter Technician Join Date: May 2004 Location: East of Sweeden Posts: 9,658	Originally Posted by NewtonTrino Currently microsoft is paying about $0.2 per share every quarter. In roundish numbers I think Bill owns around 1 billion shares so he would be getting $200M a quarter now in dividends. Yeah, if you round it up to the closest billion, it's 1 billion. As per the link I posted, at the end of January 2012, he had 500,981,726 shares.
	__________________ When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord, in his wisdom, doesn't work that way. I just stole one and asked Him to forgive me. - Emo Philips

6th April 2012, 01:54 AM	#21
geni Anti-homeopathy illuminati member Join Date: Oct 2003 Location: UK Posts: 26,561	Originally Posted by NewtonTrino Obviously most of Bill's wealth is tied up in MS and this is the case for most Billionaires, they usually own a lot of stock in something. First generation certainly. Quote: For small amounts of cash (like 10's of millions) they likely work with a bank that can move it into commercial paper until it's needed. Businesses do this kind of stuff all the time for short term working capital and the banks have special staff and systems to cater to moving money around to various accounts. So say you have $5M in working capital and you have a few million in expenses a month. You can part that money in commercial paper (that makes slightly better interest than a bank account) and then move it over to your checking account right before it's needed. There is no reason high net worth individuals couldn't use similar strategies for managing liquid capital. Possible but unlikely. If there is any group of individuals that treats amounts of over 10 million as a small amount of cash it's pretty hard to trace (a few memebers of the house of saud maybe). Predictable expenses would probably be better handed through a company in any case (large house with multiple staff for example). Of course billionaires are pretty much those by defintion who could afford to hold a few million in a current account without worring about lost earnings. Further down the scale there are ultra high net worth individuals but while there is some info on their portfolio approaches there isn't much on their day to day spending mechanisms.

6th April 2012, 01:59 AM	#22
lionking In the Peanut Gallery Join Date: Jan 2007 Location: Melbourne Posts: 29,650	I'm astounded to see that Gates has sold about $1b of his Microsoft stock. What's he investing in, Apple?
	__________________ A fanatic is one who can't change his mind and won't change the subject. Sir Winston Churchill

6th April 2012, 05:26 AM	#23
The Central Scrutinizer Penultimate Amazing Pither Join Date: Dec 2001 Location: The White Zone Posts: 42,266	Originally Posted by lionking I'm astounded to see that Gates has sold about $1b of his Microsoft stock. What's he investing in, Apple? His foundation.
	__________________ If I see somebody with a gun on a plane? I'll kill him.

6th April 2012, 01:18 PM	#24
sam81292 New Blood Join Date: Jan 2012 Posts: 18	Basically they just think of numbers in their heads and claim thats how rich they are.
sam81292 New Blood Join Date: Jan 2012 Posts: 18

6th April 2012, 01:33 PM	#25
timhau NWO Litter Technician Join Date: May 2004 Location: East of Sweeden Posts: 9,658	Originally Posted by sam81292 Basically they just think of numbers in their heads and claim thats how rich they are. That's just Donald Trump.
	__________________ When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord, in his wisdom, doesn't work that way. I just stole one and asked Him to forgive me. - Emo Philips

6th April 2012, 01:47 PM	#26
The_Animus Graduate Poster Join Date: Nov 2006 Location: Western Wisconsin Posts: 1,215	I'm a Fillionair!
	__________________ Insults come when a person cannot think of an intelligent response.

6th April 2012, 02:58 PM	#27
theprestige Philosopher Join Date: Aug 2007 Posts: 8,568	Originally Posted by lionking I'm astounded to see that Gates has sold about $1b of his Microsoft stock. What's he investing in, Apple? Originally Posted by The Central Scrutinizer His foundation. http://www.gatesfoundation.org/Pages/home.aspx -- ETA: Apparently I'm the only person who believes that being on the Internet means never having to ask for basic information.
theprestige Philosopher Join Date: Aug 2007 Posts: 8,568	Last edited by theprestige; 6th April 2012 at 02:59 PM.

12th April 2012, 11:59 AM	#28
uruk Philosopher Join Date: Apr 2003 Location: In the land of the Shatner stealing Mexico touchers Posts: 5,313	Originally Posted by lionking I'm astounded to see that Gates has sold about $1b of his Microsoft stock. What's he investing in, Apple? Actually MS, untill recently, owned a 150 million non-voting shares of Apple.
	__________________ Fourscore and seven years ago I tapped yo mama in a log cabin! Abe Lincoln

12th April 2012, 03:56 PM	#29
dudalb Penultimate Amazing Join Date: Aug 2007 Posts: 22,782	Originally Posted by timhau http://th08.deviantart.net/fs24/300W..._vikung_fu.jpg Seriously though, Yahoo Finance tells us that Bill Gates owns 500,981,726 shares of Microsoft. That's worth somewhere north of $15.5 billion today; I don't know where the rest of his money is, but $15.5 billion is big money even by Bill Gates standards. I assume his savings account is pretty impressive too, but it's not likely to be a major part of his assets. There's no need to be, either -- Microsoft pays a $0.20 quarterly dividend which adds up to real money if you hold half a billion shares, so cash is a renewable resource for him. Dammit it, beat me to the Scrooge Mc Duck reference....

12th April 2012, 05:27 PM	#30
defaultdotxbe Drunken Shikigami Join Date: Jul 2006 Location: The Dark Side of the Sun Posts: 7,482	Originally Posted by dudalb Dammit it, beat me to the Scrooge Mc Duck reference.... ^ this
	__________________ I know not with what weapons World War III will be fought, but World War IV will be fought with sticks and stones. -Albert Einstein

12th April 2012, 06:34 PM	#31
Staffsknot Student Join Date: Feb 2012 Location: Stoke-On-Trent, England Posts: 44	If I knew, I would be ultra rich.

13th April 2012, 12:33 AM	#32
Earthborn Terrestrial Intelligence Join Date: Aug 2001 Location: Terra Firma Posts: 5,647	Originally Posted by aggle-rithm Seriously, though, most wealth isn't in cash, but in various investments. Savings accounts could be one option, but you don't get rich by being that conservative with your money. Or in other words: the ultra rich don't keep their money, they lend it out. At interest. It is not so different for most of us ordinary rich people. It is not so much that I "keep" my money at the bank, but rather that the bank has a debt to me, which they can repay me bit by bit by paying for my groceries every time I use my PIN card, or by giving me money at the cash machine. Keeping money is for poor people.
	__________________ Perhaps nothing is entirely true; and not even that! Multatuli

13th April 2012, 01:33 AM	#33
timhau NWO Litter Technician Join Date: May 2004 Location: East of Sweeden Posts: 9,658	Originally Posted by Staffsknot If I knew, I would be ultra rich. Actually, it's the other way around. Yeah, the ultra-rich do have access to some investment vehicles that us mere mortals don't, like semi-closed funds with steep minimum investments, but they're generally not designed to make their clients rich (because they already are). I assume preserving capital has to be high on the priority list (unless the fund manager is Bernie Madoff or Allen Stanford).
	__________________ When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord, in his wisdom, doesn't work that way. I just stole one and asked Him to forgive me. - Emo Philips

13th April 2012, 02:25 AM	#34
Skepticemea Master Poster Join Date: Aug 2011 Location: London, UK Posts: 2,277	No one's said "The Ultra Bank" yet?

13th April 2012, 02:40 AM	#35
timhau NWO Litter Technician Join Date: May 2004 Location: East of Sweeden Posts: 9,658	Originally Posted by Skepticemea No one's said "The Ultra Bank" yet? Confession time: I googled it. Results were interesting. Hits include totally legit, transparent and trustworthy wealth management services, like the one that has one employer (pictured on the front page wearing a frown and a cheap suit) who uses a gmail account for business. Madoff and Stanford were ruthless scammer bastards, but at least they had some class. If you didn't know the names, which one sounds most like a scam, Bernard L. Madoff Investment Securities LLC, The Stanford Financial Group, or Ultra High Net Worth Advisors?
	__________________ When I was a kid I used to pray every night for a new bicycle. Then I realised that the Lord, in his wisdom, doesn't work that way. I just stole one and asked Him to forgive me. - Emo Philips