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/biz/ - Business & Finance

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17497997 No.17497997 [Reply] [Original]

How do you go broke from being a billionaire?

>> No.17498058
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17498058

>>17497997
>Have something happen that is not covered by your umbrella insurance
>Be liable for damages equal to or in excess of your net worth
Not that hard to imagine, though a smart billionaire would prevent the above scenario by using trusts and other legal entities.

>> No.17498064

>>17497997
kneepads

>> No.17498070

>>17497997
Some people have more money than they deserve and not enough common sense.

>> No.17498074

>>17498064
No, that's how you go from broke to billionaire. One billion dicks

>> No.17498294

>>17497997
Hyperinflation

>> No.17498431

>>17497997
bro i'm in the midst of selling my startup which would make me a millionaire but this coronavirus shit could completely derail the whole thing. I dropped out of college to start it and now i'm gonna have to go beg for a job at McDonalds

>> No.17499294

>>17497997
leverage