As far as I understand it, a billionaire’s wealth is wrapped up in stock, which is used as collateral to borrow money to actually spend. So how do they pay off those loans? With other loans? Loans all the way down?
In: Economics
They don’t because they don’t have to really.
If you have a million dollars debt to bank, it’s your problem. If you have a 10 billion debt to bank, it’s bank’s problem.
Latest Answers