What does a multibillionaire do in the US who doesn’t have any cash on hand, but wants to quickly buy a new SUV for his weekend vacation? He takes out a personal loan from the bank he trusts and deposits shares in his company as security. Elon Musk did the same last month. When he needed liquid money, he quickly took out a loan and deposited shares in his companies Tesla and “Space X”.
This means that Musk is right on trend. Especially in the US, multi-billionaires are increasingly taking out cheap loans and vouching for them with parts of their property, reported the US portal Bloomberg on July 23. Accordingly, hedge fund manager Alan Howard bought an apartment in Manhattan in New York for $ 59 million. Two months later, he took out a $ 30 million mortgage with the major bank Citigroup.
What a necessary evil or a bad thing for many normal earners …
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