I know in banks, but aren't banks only insured for so much......
2007-08-28 08:45:29 · 12 answers · asked by Nice 4 in Social Science ➔ Economics
Mostly, in stocks and bonds, both domestic and international. Some is in real estate, quite a bit is in hedge funds, private equity funds, venture capital funds, etc. Syndicated loans were quite popular a few years back...
2007-08-28 09:03:07 · answer #1 · answered by NC 7 · 3⤊ 0⤋
The millions and billions aren't literal bank notes. The millions and billions are the value of the assets they own.
Let's say you own a motor scooter that you could sell for $500 and that was the only asset to your name. Then you'd be worth $500. You don't have dollars sitting in the bank, it's tied up in the scooter.
So the millions and billions are the estimated value of the assets they own. Like Bill Gates, for example, who is worth about $50 billion. That's mostly the value of the stock he owns in Microsoft, the company that he founded.
Most millionaires and billionaires actually keep very little (relative to their overall fortunes) "in the bank".
2007-08-28 18:08:40 · answer #2 · answered by ZepOne 4 · 4⤊ 0⤋
Both millionaires and billionaires rarely own much cash or money in a bank. They are like most people keeping just enough for monthly needs, special trips and emergencies. Some keep none at all and borrow as necessary.
The rest is invested in real estate, debt instruments and businesses either through stocks or through private relationships.
2007-08-28 18:35:56 · answer #3 · answered by OPM 7 · 1⤊ 0⤋
In stocks, bonds, municipal bonds and other short and long term investments.By diversifying their money into many different areas they can make steady money on some, take a risk with some and some can be in long long term (20 to 30 years) investments that pay a decent annual dividend. The smart ones live on their current incomes and dont use the dividends make more money all the time.
2007-08-28 15:55:46 · answer #4 · answered by elaeblue 7 · 1⤊ 0⤋
They also own stocks and real estate. Their personal possessions count toward their millionaire status. Yachts, summer homes, villas on the Mediterranian, diamonds and other stuff. They probably don't have too much cash on hand because that doesn't earn dividends.
2007-08-28 15:55:27 · answer #5 · answered by karen wonderful 6 · 2⤊ 0⤋
In multiple bank accounts, or in a broad array of asset classes; fixed income, stocks, gold etc.
2007-08-28 19:15:10 · answer #6 · answered by Crookedlettaman 4 · 0⤊ 0⤋
I wish I was a bank
2007-08-28 16:50:57 · answer #7 · answered by Anonymous · 3⤊ 0⤋
the Bank
2007-08-28 17:07:23 · answer #8 · answered by the king USA 2 · 0⤊ 3⤋
as investments in banks, business,stocks,shares, real estate, funds& also given for rotation
2007-08-28 15:55:41 · answer #9 · answered by aaron 5 · 1⤊ 0⤋
they invest it... the money makes money for them.... They prob invest in lots of dif things, real estate, stocks, bonds, startup companies etc....
2007-08-28 15:55:52 · answer #10 · answered by icpooreman 6 · 1⤊ 0⤋