Sunday, 16 March 2014

How much does Bill Gates have in his bank accounts?

How much does Bill Gates have in his bank accounts?
This is such a difficult question to answer. Cash is a weird thing. Due to inflation, cash buys less each year. For that reason, wealthy people very rarely have money kept as cash in a normal bank account.
Let's look at his company instead to understand.
When a customer pays Microsoft the money goes into the bank account. This is the same account that money is being taken out of to pay bills like rent, wages, materials, etc.
They may have extra money that is set aside to buy a new company later. This money would be invested in a money market account or some form of long term interest bearing account.
People become wealthy because their money is always working for them. That means cash is rarely sitting in an account.
Bill Gates may receive a large cheque when he gets a dividend from his shares but may have this money reinvested into buying more shares.
When you have the wealth of Bill Gates, you would have a personal banker available 24 hours a day. If normal credit cards didn't have enough credit, I am sure a phonecall to a bank would get a money transfer immediately when required.
It is such a hard question to answer. I know you want an exact answer but it is so difficult to assess how his money is managed.

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