Chuck Feeney Is Now Officially Broke

Re:Chuck Feeney Is Now Officially Broke by mensetmanusman on Tuesday September 15, 2020 @03:38PM (#24485785)

Most of the worlds money is sitting in the Cayman’s after-all, or hidden away as art investments inside of storage containers.

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Re:Chuck Feeney Is Now Officially Broke by kbenson on Tuesday September 15, 2020 @06:10PM (#24487318)

> or hidden away as art investments inside of storage containers.

That doesn't make any sense. They pay for that art, and the money goes to the people that owned the art previously. Either they stick it into an account in the Caymans, or a regular/investment account, or they just have it available, but purchasing assets with it is not money hidden away as an art investment.

A significant amount of wealth may be in assets, but that's the same for most people that's aren't poor (i.e. that own a house). The money used to purchase those assets is still circulating though.

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Re:Chuck Feeney Is Now Officially Broke by srpinto on Tuesday September 15, 2020 @03:41PM (#24485830)

Is it really? Where can I read about it?

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Re:Chuck Feeney Is Now Officially Broke by TheOtherHobbes on Tuesday September 15, 2020 @03:58PM (#24486027)

https://en.wikipedia.org/wiki/Panama_Papers

https://www.businessinsider.com/tax-havens-for-millionaires-...

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Re:Chuck Feeney Is Now Officially Broke by refurb on Tuesday September 15, 2020 @08:42PM (#24488401)

I don't see anything to suggest "it's most of the world's wealth". Do you have another source?

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Re:Chuck Feeney Is Now Officially Broke by hindsightbias on Tuesday September 15, 2020 @04:22PM (#24486296)

others:

https://longreads.com/2018/05/29/tax-free-storage-wars/

https://en.wikipedia.org/wiki/Geneva_Freeport

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