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Have you ever stopped for a second, and thought about just what it takes to be a billionaire? Let’s take it a step further, how about just what it takes to be one of the richest people in the world, up there with the likes of Jeff Bezos, Bill Gates, and Warren Buffett? We can tell you, it doesn’t mean that you have hundreds of billions of dollars lying around. In fact, quite the contrary. Most billionaires keep a surprisingly small amount of their net worth in cash! What we’re saying is, if Jeff Bezos wanted to go out, right now, and spend all of his massive 181 billion dollar fortune… he couldn’t do it. No, literally, he could not spend it! That’s because he only holds 5% of his net worth in liquid assets. AKA, cash. If you think that’s wild, get this– the average billionaire only keeps one percent of their wealth in spendable cash! So… what’s the deal here? How can someone be a billionaire… without actually having one billion dollars lying around for them to spend, any time that they would like to? Time for a little finance 101, as we talk about where billionaires are actually keeping all of their wealth! We’ll tell you up front, it’s a mix of a lot of places, from real estate, to stocks, to bonds, to ownership of companies, to even Bitcoin! Well, with regards to Bitcoin, that hasn’t received widespread adoption by the billionaires of the world, yet. … YET!
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00:43 Liquid vs. Non-liquid assets
03:09 Jeff Bezos’ cash
04:57 Bill Gates’ assets
06:51 Warren Buffet’s money
08:04 Winklevoss Twins… and Bitcoin!”