What kinda banks do millionaires put their money in ??

[motrilla]

I know Warren Buffet has Billions of treasury bills which are backed by the U.S treasury so that his money stays secure unless the entire country goes bankrupt ,most "rich" peoples money is in stocks and they make profit off of dividends so they can avoid paying higher tax rates.

 

[freshb651]

so it's mostly in stocks ?,so where does a Jay-Z,or Baby keep most their money,just liquid assets after you get past a certain amount ?

 

[motrilla]

so it's mostly in stocks ?,so where does a Jay-Z,or Baby keep most their money,just liquid assets after you get past a certain amount ?

I wonder the same shit it's easy to see why Bill Gates type dudes keep their money in stocks when they have a corporation like Microsoft, but what does a dude who has 100 million do with his money I know that shit ain't in a checking account

 

[philippkorikong]

i think they need not to put their money in the bank for some reasons..try to check this out http://iwishamuthawould.info/,http:...pthattrick.info/,http://youarethefather.info/

 

[S2J]

so it's mostly in stocks ?,so where does a Jay-Z,or Baby keep most their money,just liquid assets after you get past a certain amount ?

Im no expert but i highly doubt they liquidate anything, maybe ever...for what?

 

[Bussy_Getta]

I bank at wells fargo boo

 

[Sh0t]

Many have a few regular deposit accounts and brokerage accounts for near liquid assets.

The FDIC limit is rather meaningless as long as you keep watch on the status of your bank. If you have enough money, you can go to a small bank that will disclose their entire financial shape in statements, and be well aware of any problems. Plus, deposit holders get paid first before stock and bond holders, so if you were looking to avoid the risk, the least risky is to have a deposit, not own the stock or bonds in a bank.

I would doubt HIGHLY most millionaires have MOST of the net worth in stocks, bonds, or anything similar.

 

[HATCHIGO]

It's called private banking, required net worth is usually $5M.