this post was submitted on 27 Sep 2024
270 points (95.9% liked)

Explain Like I'm Five

14058 readers
398 users here now

Simplifying Complexity, One Answer at a Time!

Rules

  1. Be respectful and inclusive.
  2. No harassment, hate speech, or trolling.
  3. Engage in constructive discussions.
  4. Share relevant content.
  5. Follow guidelines and moderators' instructions.
  6. Use appropriate language and tone.
  7. Report violations.
  8. Foster a continuous learning environment.

founded 1 year ago
MODERATORS
sabbah@lemmy.world
AradFort@lemmy.world
rikudou@lemmings.world
Don_Dickle@lemmy.world
Rikudou_Sage@lemmy.world
270
ELI5 If Trump is a supposed billionaire why does he keep promoting cheap crap to get money? (lemmy.world)
submitted 1 day ago by Don_Dickle@lemmy.world to c/explainlikeimfive@lemmy.world
60 comments fedilink hide all child comments
you are viewing a single comment's thread
view the rest of the comments
[–] ContrarianTrail@lemm.ee 17 points 19 hours ago (1 children)

Wealth isn't the same as money in bank. Most of Trump's wealth is tied into properties. You can't pay for groceries with a skyscraper. That's why many wealthy people borrow money for everyday spending rather that liquidate (sell) their assets. This applies to pretty much every wealthy person. When someone is a billionaire it doesn't mean they're hoarding billions of cash in bank.

[–] shalafi@lemmy.world 3 points 8 hours ago (1 children)

they're hoarding billions of cash in bank

Lemmy's understanding of wealth right there.

[–] BigDanishGuy@sh.itjust.works 1 points 7 hours ago

I thought that Musk and Trump kept their wealth as cash in vaults for swimming purposes.