this post was submitted on 27 Sep 2024
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Explain Like I'm Five

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ELI5 If Trump is a supposed billionaire why does he keep promoting cheap crap to get money? (self.explainlikeimfive)
submitted 3 months ago by Don_Dickle to c/explainlikeimfive
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[–] [email protected] 18 points 3 months ago (1 children)

Wealth isn't the same as money in bank. Most of Trump's wealth is tied into properties. You can't pay for groceries with a skyscraper. That's why many wealthy people borrow money for everyday spending rather that liquidate (sell) their assets. This applies to pretty much every wealthy person. When someone is a billionaire it doesn't mean they're hoarding billions of cash in bank.

[–] shalafi 5 points 3 months ago (1 children)

they're hoarding billions of cash in bank

Lemmy's understanding of wealth right there.

[–] [email protected] 1 points 3 months ago

I thought that Musk and Trump kept their wealth as cash in vaults for swimming purposes.