Forbes missed Kimbal Musk. Looks like they need to add a wikisearch to their methods: https://en.wikipedia.org/wiki/Kimbal_Musk
Companies and Billionaires
31–40 of 107 posts
Re: Companies and Billionaires
#32Nice work!
Quick q: How did you set Google Docs to display like that where no one can edit the widths of the columns?
Re: Companies and Billionaires
#33Naïve question. The richest people in the world, who are billionaires from pretty much just stock. How do they convert that to real money to buy things? Do they just simply wait until the stock is at a high point, and sell a lot? Maybe move that money to other investments?
These individuals can easily call up banks and get a loan on their worth. "Hey, Morgan Stanley I need 2 mil deposited in my account" - "ok" This is also how they avoid income tax. ;) They can take in millions and it's just a loan. Then they pay it back off with stock or other asset deals.
I have $100 and i need $2 so i go through the trouble borrowing it? That's if you have a measly billion dollars. Now if you've got $10B, that's like financing 20 cents.
Re: Companies and Billionaires
#34Earlier quoted context omitted.
Suppose I make my first $10M getting lucky in technology, then make my next $1B getting lucky in real estate by leveraging my lottery winnings. What's the source of my wealth in this case? (this seems to be a clarifying exaggeration of what is being asked here)
In my view: Technology. Without that first $10M, you'd never have had the opportunity to make $1B in real estate. When I think "source" I'm digging down to root cause.
But if you only made $10M, you wouldn't be on the list.
Re: Companies and Billionaires
#35Earlier quoted context omitted.
Perception? It IS power. The power to influence politicians and elections. The power to influence how we educate our youth (e.g. Bill Gates and Common Core). The power to dominate everything. It thoroughly undermines democracy, unless we want to redefine democracy as 1$ = 1 vote.
I've been finding myself quoting Game Of Thrones more than usual lately but: “Power resides where men believe it resides. No more and no less.” These billionaire are powerful only because we have collectively decided to put such high value on the product of their companies and investments. It all stems from perception.
If you claim that the benefits of our technological society are merely perception, I suggest that you are not perceiving all that clearly.
Re: Companies and Billionaires
#36I don't understand why the source of the Koch brothers' wealth is listed as "Diversified". They owe their fortune to petroleum.
Well if you are asking where did their initial wealth come from, you are correct, it came from oil. But keep in mind that they have more than doubled their net worth in the past 8 years. And in those 8 years it was a diversified portfolio that more than doubled their wealth, so given that more than half their net worth was accumulated with a diversified company I can see where Forbes is coming from. http://www.huffin…
For those who are wondering (I was), doubling your money in 8 years is about an average return of 9%. So pretty solid, but not absurd.
Although I imagine such returns, with acceptable risk levels, become harder to find when you are dealing with 11-figures.
Re: Companies and Billionaires
#37How accurate is this? Asking because Trump not releasing tax returns made some news.
Re: Companies and Billionaires
#38Earlier quoted context omitted.
These individuals can easily call up banks and get a loan on their worth. "Hey, Morgan Stanley I need 2 mil deposited in my account" - "ok" This is also how they avoid income tax. ;) They can take in millions and it's just a loan. Then they pay it back off with stock or other asset deals.
I have $100 and i need $2 so i go through the trouble borrowing it? That's if you have a measly billion dollars. Now if you've got $10B, that's like financing 20 cents.
You're forgetting about taxes. If you sell something worth $100, you probably aren't going to pay $30 in tax on it (or probably anything at all).
If you sell something worth 100 million you're going to pay 30 or 40 million in taxes.
With the loan you won't pay any tax now, you might pay it later, or you might not ever pay it because you'll have that loan until you die and the bank will be the beneficiary of 100 million of your estate.
Re: Companies and Billionaires
#39Earlier quoted context omitted.
I have $100 and i need $2 so i go through the trouble borrowing it? That's if you have a measly billion dollars. Now if you've got $10B, that's like financing 20 cents.
You're forgetting about taxes. If you sell something worth $100, you probably aren't going to pay $30 in tax on it (or probably anything at all). If you sell something worth 100 million you're going to pay 30 or 40 million in taxes. With the loan you won't pay any tax now, you might pay it later, or you might not ever pay it because you'll have that loan until you die and the bank will be the beneficiary of 100 milli…
you only need $2. There's no need to cash in $100.
Re: Companies and Billionaires
#40Earlier quoted context omitted.
You're forgetting about taxes. If you sell something worth $100, you probably aren't going to pay $30 in tax on it (or probably anything at all). If you sell something worth 100 million you're going to pay 30 or 40 million in taxes. With the loan you won't pay any tax now, you might pay it later, or you might not ever pay it because you'll have that loan until you die and the bank will be the beneficiary of 100 milli…
you only need $2. There's no need to cash in $100.
You're right I missread but the point is the same. Taxes. The whole thing changes when you're trying to be tax efficient.