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.
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.