where do celebrities put their money?

Question

i know that if you put more than a hundred thousand in the bank and the bank gets robbed you only get covered for the hundred thousand. so celebrities who have like more than hundred millions, where do they put their money? i doubt the stock market because of a lot of them didn't even finish high school.

Answer 1

You question does make any sense. If your bank gets robbed, you don't lose anything over $100,000??? You might be thinking of FDIC insurance which addresses banks that fail or go out of business. And what on earth does a person's level of education have to do with investments? The idea that someone has whatever talent, ambition...to become successful without a high school diploma is nonsense. Yes, Paris Hilton has a GED, but most athletes, actors, singer, entrepreneurs whose faces you see on the newsstands have at least a Bachelors degree and many have Masters. Even so, when you have money, you find CPAs, lawyers, stockbrokers, etc. to help you manage it.

Answer 2

You are uninformed, my friend, woefully so.

The $100,000 limit is based on the FDIC insurance on deposits. If the bank fails, your first $100K is covered. It has nothing to do with hold-ups. Do you go to public school?

"Celebrities" as you call them, typically buy exorbitant possessions such as exotic cars, homes, clothes and the like. They have no clue how to invest, protect their future, or otherwise plan for the inevitable downturn in their popularity and novelty.

Good question, though.

Answer 3

I think Hollywood actors and actresses are insanely over paid. It's pitiful.