If you can just decide to cash out, you’re not broke. I have personal and retirement investments. Neither is realized money until sold because the value is variable until then, as is the possible tax liability, and withdrawal from my retirement investments early comes with a penalty, etc. But it’s still an asset that I can sell at any time. It has value, even if that value changes over time and on certain conditions.
So when a person says that they don’t have money because they invest it all in some asset (stocks, a private company, physical assets, etc.), they are still being deceptive. They can trade that asset for cash whenever. They are still wealthy even if their assets aren’t very liquid. They can even borrow on those assets, be in debt and still be millionaires. Pretending otherwise is deception.
jimmy might also be signaling hes going to begin doing just that. rich people do keep an eye out for that sort of thing because people like them leaving can actually affect portfolios given the economy is made of glass rn, cascading effects are v possible when the upper levels start to bail on each other right now, wonder how long a lot of these guys have before they finally tap out.
Makes you wonder how many of these paper billionaires are actually debt men walking already.
Oh yes, the Donald Trump Paradox. Everyone else is actually richer than me because I am in so much debt!
At least this turd can take a loan out on all his imaginary wealth. The rest of us have to post some real collateral or get fucked.
Jimmy should go sit and spin on a fucking cactus.
I dislike this fucker so much…
I am poor just like you plebs! Oh btw don’t forget to buy my choconut bar filled with my jizz, oops I meant frosting.
In the past I used to wonder how and why billionaires say they need to borrow money and have negative money and crap.
Then I realized the way how things work is they take some of their stock, use it as collateral for a large loan from a bank, live off that loan, and never pay it back, since they get stock and not cash from their company, they just repeat the process. The bank obviously now has valuable stock and are happy with it, so the banks gets paid back and continues to loan even if their billionaire debtors are technically deadbeats.
I’ve heard it called the “infinite money glitch,” the way once you have assets valuable enough to use as collateral (i.e. high enough on-paper wealth), you can just keep borrowing money and never pay it back because there’ll always be bankers falling all over themselves to have your business.
Stfu you peice of shit.
The fact that he can borrow against that “billion on paper”, means that he’s full of shit.
Exactly. That’s how all billionaires exist. Dude is either an idiot that can’t understand his own wealth, or he’s fully misleading people trying to seem less well off than he is.
Its definitely the latter, you don’t make it to this point without knowing how to play the game.
Ding ding ding!! Out of touch billionaire attempts relatablity!
Like everything else he does, he has a fifth grader’s understanding of this situation.
So he’s recklessly over invested in himself and doesn’t have any cash.got it
Common CEO/Founder tax dodge and nothing more. If the company will buy him whatever he wants, then it’s immaterial what’s in his bank account as long as he owns the company.
What’s the equivalent of sane-washing for billionaires?
A quick swift death
Brown nosing. Bootlicking. Bots.
In any case, I see a lot of sane-washing and glazing the rich on social media. The more common ones are showing the timelines on how much wealth Elon et al. accumulated with the captions “a lot can happen in few years.” Like, they are framing it as if it’s a rags to riches story. Are we supposed to be inspired that the rich got even richer? There is clearly an attempt to glamorise the rich so that people will become complacent.
Edit: more info
boo-fucking-hoo, mister “i don’t have to pay any taxes on the ‘loans’ i take out against my ‘wealth’.”
This is a guy who has a team of people that craft thumbnails.
specifically AI thumbnails accoridng to him, children love this shit, which are his audience. he the new “PEWPEWDIE” of the gen alpha crowd. he likely sees the writing on the wall down the line thats why he is doing all these wierd stunts as of late.
trumps daughter talks about her father telling her something like this. how a homeless man had more money than he did.
I my experience, the more money people have the more they talk about not having any. So it stands to reason that when you have a metric fuck ton of money you say that you have “negative” money.
this is the thing with global warming. Before they denied it and truly did not believe it was happening and everything is fine so they did business as usual. Now that they have realized its real their reaction is to ratchet everything up and hoard like crazy. All their instincts lead to the opposite of what one would want.
Same reason he can’t stop talking about how smart he is
