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Re:Mark Zuckerberg’s Fortune Surpasses $100B by foghornleghorn on Thursday August 06, 2020 @06:57PM (#24076299)
You are quite naive. These people don't have to sell their stocks in order to finance something like building a house. They get massive loans using their stocks at collateral.
Re:Mark Zuckerberg’s Fortune Surpasses $100B by breakintheweb on Thursday August 06, 2020 @07:34PM (#24076532)
Some of Larry Ellison's emails with his financial advisor became public and talk about doing just this.
Re:Mark Zuckerberg’s Fortune Surpasses $100B by ksec on Thursday August 06, 2020 @08:51PM (#24076910)
It is common practice for nearly all those wealthy people relying on stocks. What I am interested in is the interest rate they get on those loans.
Re:Mark Zuckerberg’s Fortune Surpasses $100B by foghornleghorn on Thursday August 06, 2020 @09:25PM (#24077091)
It's actually lower than retail bank interest rates. For example, if they get a huge mortgage, usually it is at least 100 basis points lower. This is because these people are considered extremely low risk.
Re:Mark Zuckerberg’s Fortune Surpasses $100B by jjeaff on Thursday August 06, 2020 @11:39PM (#24077912)
I have heard it is pretty common for them to get 1 or 2% because the banks usually want to win their business.