“The economically illiterate don’t understand that Jeff Bezos doesn’t have 117 billion in cash, he merely owns legal claim to the future earnings of Amazon that, when discounted by the appropriate rate, would grant him around 117 billion in spending power, it’s very different.”
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That's one of those arguments that doesn't scale well. There are plenty of millionaires whose net worth is a house and a 401k. But people are kidding themselves or others if they don't think Bezos doesn't have plenty of cash on hand and couldn't borrow more on favorable terms.
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I'm willing to consider that many people haven't thought about the liquidity of a billionaire's assets. I hadn't, a few years ago, because why would I? That doesn't make the sneering constructive though.
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