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The label "billionaire" is mostly meaningless. Most wealth sits in company equity that can't be converted to cash without tanking the stock price. It's a lifestyle marker and social signal, not actual liquid money.
The label "billionaire" is mostly meaningless. Most wealth sits in company equity that can't be converted to cash without tanking the stock price. It's a lifestyle marker and social signal, not actual liquid money.
Billionaire is a state of mind because first of all, it's so bullshit. Unless it's either you have this in cash or it's your shares in a public company, it's always a complete matter of taste. Like, well, my company would be worth a billion if it were to sell. And even in public companies, it's not even real because most of the time, if you own a ton of the public company, if you were to dump it all, it would massively drop the price. It's more like this memetic label. Once you get labeled a billionaire, it kind of just sticks. People use it as a way to describe someone who is in a certain class. I actually think it's more of a class marker than anything. He lives a certain lifestyle. He hangs out with certain people, he's like a billionaire. It really has nothing to do with whether or not you actually have $1 billion or you own something worth $1 billion. The other is cash liquidity is so crazy. The amount of people when you're like, okay, could you wire me $100 grand tomorrow? The answer is no. I've been shocked by this.
