I swear people think billionaires have a giant vault of money like Scrooge McDuck. I have had to explain this to people so many times. His wealth is almost entered imaginary and based on the speculative possible future profits of his companies. If he ever tried to convert it into cash the value would go to zero.
His wealth isn’t imaginary when he uses it as collateral to borrow actual money, though.
That’s the weird part, when billionaires use their money, it’s real.
But when you discuss taking it away or taxing it, it’s suddenly just an imagination.
![[serious]](https://lemmy.ml/pictrs/image/5797250b-b6ab-4ec4-aa5f-c41d66a011f0.jpeg){kind=link}
I swear people think billionaires have a giant vault of money like Scrooge McDuck. I have had to explain this to people so many times. His wealth is almost entered imaginary and based on the speculative possible future profits of his companies. If he ever tried to convert it into cash the value would go to zero.
His wealth isn’t imaginary when he uses it as collateral to borrow actual money, though.
That’s the weird part, when billionaires use their money, it’s real.
But when you discuss taking it away or taxing it, it’s suddenly just an imagination.