Rich people don’t hoard cash. They have assets that are valuable. A billionaire doesn’t have a billion dollars on their bank account. Hell, they probably don’t even have a million in there. All that wealth is tied to investments that either increases in value or for the very least holds it.
Making money is incredibly easy if you have a lot of money to begin with. Going from zero to million is hard. Going from million to a hundred million, not so much.
…so you can’t just look at a person’s wealth and say “nobody should be that rich” or that they’re “hoarding money” when the wealth you’re criticizing could not even be money to begin with but a company called SpaceX or Tesla that’s valued in the billions.
Wealth is not synonymous with money in the bank. You could be incredibly wealthy because you own a rare painting, but having that painting on your wall doesn’t pay your bills.
Rich people don’t hoard cash. They have assets that are valuable. A billionaire doesn’t have a billion dollars on their bank account. Hell, they probably don’t even have a million in there. All that wealth is tied to investments that either increases in value or for the very least holds it.
Making money is incredibly easy if you have a lot of money to begin with. Going from zero to million is hard. Going from million to a hundred million, not so much.
It’s hoarding none the less. I assume the previous commenter didn’t mean literally cash, neither did I. So yes you’re right.
Is Elon hoarding money because he owns multiple succesfull companies?
I don’t think so. Hoarding means sitting on a pile of something that you don’t use/need.
Exactly!!
…so you can’t just look at a person’s wealth and say “nobody should be that rich” or that they’re “hoarding money” when the wealth you’re criticizing could not even be money to begin with but a company called SpaceX or Tesla that’s valued in the billions.
Wealth is not synonymous with money in the bank. You could be incredibly wealthy because you own a rare painting, but having that painting on your wall doesn’t pay your bills.