Suppose you win 100 million. What do you actually do with it? Banks only guarantee 250,000. Do you have to invest it? Is there anywhere you can just let it sit and draw interest?
Doing the opposite of the time Coca-Cola hired anti-union assassins in Columbia
you invest it in (foreign) right wing radical organizations bent on overthrowing their democratically elected government. that way, when these groups eventually succeed due to your generous contributions they will allow you to swoop in and buy up their country's previously nationalized natural monopolies at bargain bin prices through local intermediaries at which point you can cut costs and inflate prices for the citizens of the entire country and receive many orders of magnitude ROI
it's win-win so long as you propagandize enough people about how this specific thing that you're doing is actually defined as democracy, they'll be totally ok with it and won't suspect a thing
This plan only costs you your humanity. You probably weren't using it anyway.
Good old Vulture Capitalism. The answer to "fucking up tens of thousands of employees and maybe only hundreds of thousands of customers isn't going far enough for me, what else can I do?".
That's it? That's the only thing you'd do if you had a million dollars?
Go to a big city and get a lawyer, finacial advisor, and accountant that have expeirience dealing with that kind of money. Make sure all three are okay with working together. Take their advise. Enjoy life and (for me) do fun things that bring a smile to the not-so-lucky. If i won big money id buy a nice food truck and go around factories around lunch time offering really good food for free. Or go to walmart looking for people with kids and tell them ill buy anything they can fit into 1 cart. Id also hire a professional chef (and team) to cook a great meal for the local homeless shelter. Things like that are good for your soul and will give you a far better feeling than blowing it on toys.
Edit: id do stuff like that as much as my financial team would let me.
The real answeris, get in contact with the accountants of other people who have 100mil and have them take care of it. I'd probably squirrel away some in precious metals just in case. Also, I would not post a single thing on the Internet about the fact that I'm rich.
It's better that you know what you're doing with your money rather than giving it to wealthy people, as they will likely end up stealing it. This is often the reason why they are rich and you are not.
I feel like that more a reason you specificity aren't rich and the rest of the people have very different reasons.
I don't know people that has 100 millions, but I know rich people close to me, they basically have properties and get money from it, they don't need to work, and they get more money incoming than me working and getting a salary... much more, and more than what they need too (counting that they have many homes to live in), I still say, if you have so many money, people will try to get your money. You need to know what investment you're going to do to and learn some basic economy, or just go to the easy way and buy proprieties and make people work to pay their rent.
What makes you think owning property means you don't know economics? I'm willing to bet those people also have a lot invested in stocks/bonds/business... feels like your just mad because they have an a you have not.
Well, firstly, what I said at first is that you will need to know economics before giving your money to others to invest to know at least what are they doing with your money, don't let others manage your money because you can get surprised by going to bankrupt for not knowing what they did or doing, so learn some economics or how those things works.
About the people close to me... I envy them yeah, but I'm not mad... makes no sense for me to be mad at my friends/family/neighbors... we are all friendly and friends. Some of them have investments, other only proprieties and nothing more, they don't even need to with the incoming they already have... maybe buying a new property but not everyone is interested of investments.
Absolutely this is why. And owning stuff isn't a job - only workers contribute to society.
Unfortunately, having bourgeoisie rulers and landlords is the central underpinning to capitalism.
Hire a fiduciary to invest it so you can live off the interest and some for the rest of your life. You’ll still have plenty to blow after that so it’s up to you what you want to do with it.
Just a reminder that !personalfinance@lemmy.ml exists in case people want to discuss this kind of questions
Thats only for people who want to live like paupers until they can die
I'd give most of it away or start some kind of foundation. Having that much money, amongst all the poverty here in South Africa, it would just feel immoral.
The money I'd spend on myself would be to own an average middle class home, a normal car, and maybe a project car if I could get some utility from it. And on paying off medical debt and spending it on medical treatments to minimise my chronic back pain. And to set up a fund that pays me enough every month so I never have to worry about hunger or not having enough money by the end of the month to do stuff.
I'd hire someone who knows what they're doing with it and follow whatever advice they give.
pay my personal expenses with it but keep working a job. donate to the communist party of my choice, so we can have a legal defense fund and do fancy projects that we can't afford now and can help out comrades in need. donate to every strike fund in the world that will accept a payment. maintain a large list of such funds. donate money to battered women's shelters and to give direct aid to poor and homeless around the world. repeat until the money runs out. as far as the technical aspects of how to manage money that large without losing it due to bank system failure, i guess i could open thousands of accounts in different banks and put 250,000 in each of them or do some other strategy. ill take off a few months from work to research how to do it and talk to people who know more about the subject until i have a solid plan for that.
New roof, solar panels, battery, EV, remodel part of the house, new siding, buy a small house in my neighborhood to function as a guest house, take care of my parents, spend a couple months in Europe.
Oh, you meant the rest of it. Government bonds are always good. You can also use more than one bank to expand the $250k limit (which applies per account type and bank). A trust, for example, is insured separately from your checking account.
Past that, I couldn't tell you. Your financial advisor would though, just make sure they have a "fiduciary duty" to serve your interests.
If you have any decency, get rid of most of it, preferably to charities or political causes.
That sort of wealth in the hands of a single person is obscene, and spending it on luxury when there are people starving and homeless in the world is the height of immorality.
Charity exists so that rich people can pretend to help, but also get to be a petty tyrant. Charity is scam.
My partner worked in non-profits for years. Her advice is find local organizations (homeless shelters, local LGBT orgs, neighborhood revitalization orgs, ect.) that DO NOT have a national (central) office. Get to know their staff, their mission, and then make pledges to pay $X per month for the next X years. This is how they can best do the work they are passionate about to help people in need. Don't put strings on the money and you are moving closer to mutual aid than tyranny.
Well, you've got to get rid of it some way, and while charity might systematically be a problem there are plenty that do genuine good.
Either you or someone with a fiduciary duty to you will open up several accounts to invest in your name. These accounts will vary but be geared to making you money, providing the liquidity you need, and hedging against market risk. You might also make an investment in illiquid assets like real estate or hedge funds.
It won't be guaranteed unless you pay insurance on it, but you should be rich enough to take the hit of one account going under.
Bond fund here we come, that's as ensured as you get now, moneybags.
Pay off my debt, give 10 million to churches and charities of my choice, give a million to my parents and another million to my in-laws, give myself a million, and take the remaining 87 million and start a non-profit that aims to fight climate change and eradicate world hunger.
