Where does billionaires keep their money?
Billionaires do not keep their money in one place.
They have diversified portfolios, owning stocks, bonds, businesses, real estate, etc.
They definitely don’t have a savings account sitting around with $1B in it.
What banks do rich people use?
Top Banks for Millionaires
The most popular banks for HNW customers, according to surveys and industry studies, include J.P. Morgan Chase, Bank of America, and Wells Fargo.
How do millionaires keep their money?
The bigger issue is that most millionaires don’t have all their money siting in the bank. They invest in stocks, bonds, government bonds, international funds, and their own companies. Most of these carry risk, but they are diversified. They also can afford advisers to help them manage and protect their assets.
What do rich people do with their money?
What do they spend their money on? The world’s richest people give a lot of their money away. Philanthropic giving is one of the primary pursuits of the wealthy, particularly among the ultra wealthy, with 36% of the rich, and 57% of the super rich pointing to charitable giving as one of their top interests.