@tim does anyone actually have a billion in the bank? I assume it's more net worth of assets owned.
@shemjm I mean, I doubt that any individuals hold it as actual liquid cash, no, but I mean it in terms of assets owned. Many billionaires certainly have it "liquid enough" in the sense that a large portion of their personal wealth is in salable stocks, etc.
Speculating about the market impacts of say Larry Page selling all of his $GOOGL at once would be a fascinating exercise, but not something I expect to ever actually happen.
@shemjm (Technically Larry and Sergey hold Class B shares, which aren't publicly traded, but calling them $GOOGL for convenience, since they are legally speaking readily convertible should they choose to divest themselves.)
@tim I assume he'd get taxed pretty hard if he did sell them all at once 😅
I can't even sell more than 3k in stocks with paying capital gains tax.
@shemjm you'd think, but part of the problem (discussed elsewhere in my thread) is that tax policy is slanted towards the wealthy and giving them ways to hide / sneak around rules that the rest of us have to follow.
If he did it the "usual" way, sure, he'd get whacked with capital gains, but that's worst-case 23.8% at the US federal level. That's a lot less than if he'd earned it via wages and paid the top marginal tax rate on it. Not that someone with that wealth ever would anyway.
