How The World’s Richest Man Actually Has Very Little Cash...

Elon Musk is currently top of the Forbes real-time list of billionaires as the world's richest person, with a net worth of $206B. But strangely, the Tesla and SpaceX CEO actually has very little money, and carries a lot of personal debt. So how is it that people like Elon Musk, Jeff Bezos, Warren Buffett and more, actually have very little cash available to them?

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DISCLAIMER:
Neither New Money or Brandon van der Kolk are financial advisers. The information provided in this video is for general information only and should not be taken as professional advice. There are risks involved with stock market investing and consumers should not act upon the content or information found here without first seeking advice from an accountant, financial planner, lawyer or other professional. Consumers should always research companies individually and define a strategy before making decisions. Brandon van der Kolk and New Money are not liable for any loss incurred, arising from the use of, or reliance on, the information provided by this video.

[NewMoneyYouTube]

Thanks for watching guys! Interested to hear your thoughts on the super wealthy. Should they cop a net worth tax, or would it be unfair for them to be forced to sell their company ownership? Let me know, it's obviously a hot topic!

[simpleeasycooking]

*I've been trying to explain this to people for years who say they don't need that much money and they're greedy and should use it to help out others. Its not that simple. They don't really have that much money. This is the perfect video with which to share to those do gooders to explain how the real world of high wealth truly works.*

[davidb]

Well he is not really wealthier than 73 % of countries since they produce that in a year, in his case you could say it’s (so far) his life’s work.

[csongor]

Not to mention that as soon as the CEO starts selling his shares, the share price is going to crash.

[abcdefgh]

For those who already understand this, it is extremely simple (most of your viewers). Sadly, for those who don't understand, they are unlikely to be the type who will watch a 10min video on the topic to learn!

The best investors are entrepreneurs that never sold their stake. (Nick Sleep)

[somewhereoverit]

Do you realize how uncomfortable it is to have everyone and anyone know all your financial information

[Shave-ice]

If they ranked the rich by how much cash they have in the bank, I’m sure that list will be different. There are families out there that are super wealthy than these guys.

[ljaggerl]

Jake Tran made a good video about billionaires and he explained in part how they buy super mansions and yachts despite not having cash. I forget exactly how but I think it’s like a huge IOU to banks

[ericmckenzie]

Leaving it in investments rather than my bank accounts has been very remunerative. As a retiree I am earning serious passive incomes from home.

[szilagyimiklos]

82billion happy meals... Damn thats the kind of wealth I'm shooting for

[asasnapparel]

You forgot Elon’s main life goal, to put a literal dogecoin on the literal moon…

[walteruwe]

Nobody can become financially successful over night. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals.

[sathyasayesh]

Yeah but these billionaires pledge their shares, and obtain huge amounts of funding from the banks to fund lavish lifestyle. While of course its debt, they still technically has access to billions of dollars that are as good as having them as cash in the bank as long as the banks agree to fund them by using their shares as collateral

[ksec]

I still dont understand why the world continue to use GDP and compare it to wealth of individual. GDP would be more like "revenue" of a company. While the wealth are market cap.

[AnalystManIssac]

This video explains the process very well. Like I tell some of my friends these wealthy entrepreneurs like Bill Gates and Mark Zuckerberg wish they had $200 billion in the bank.

[Duke_of_Prunes]

And here I am with three whole shares of Tesla stock, watching the stock price like a hawk!

[PhongNguyenKenGratis]

“Money is the Mc-mansion in Sarasota that starts falling apart after 10 years. Power is the old stone building that stands for centuries. I cannot respect someone who doesn't see the difference.

[darraghcollins]

"Wont access 99.99% of that wealth" so 20.6 Million dollars in his whole life? Damn he broke lol

[jopiee]

Are you sure stake is for the US ? I can’t find them . Do you have a link ?