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How Do The Super Rich Handle Their Finances Does Bill Gates Personal ………..




How do the super rich handle their finances? Does Bill Gates’ personal bank account actually say “$66,000,000,000.00 available”? I can’t imagine him going down to the local Chase Bank to withdraw 50 bucks to pay the cleaner, so what happens instead?

As a business owner operating several websites, my estimated net worth is around $20–22 million according to my personal accountant.

As a high net worth individual, I can attest to the following:

We as millionaires and billionaires do not keep large sums of cash floating around as people may think. This is not only for my personal safety, but also to keep the IRS away. I have less than $5,000 cash in my personal safe at home for only emergency purposes.
Most of my assets are the value of my home, business assets (inventory), cars, holdings of stock in various companies, real estate, jewelry, rare sports memorabilia and cards, artwork and antiques.

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The actual amount I keep in my bank accounts is very little and this is again for tax purposes and to avoid scrutiny by IRS watchdogs.
I avoid large and constant bank debit/deposit transactions as much as possible. The larger and more bank transactions you conduct, the more scrutiny you receive.

Many wealthy people employ legal “structured entities” as the holders of their bank accounts to avoid liability. Some of these are based in the U.S. but most are overseas.

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I only use one structured entity bank account for personal expenses and this balance is kept very low. I use a personal assistant who does all of my shopping. She handles all of my shopping and purchases for daily needs.

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