Winner of $1.3 billion Powerball jackpot is an immigrant from Laos who has cancer

[null]

Private Banks, they gotta have a minimum of like $10 million and most of them are invite only. Super wealthy people don't even have cash on hand like that, most of the wealth isn't liquid, it's stock or trusts, or other investments. I think they'll have like a small amount if their wealth liquid and it's handled by a private banker that'll handle that individual directly or a couple other clients.

When I was around some of those folks that bought artwork they were putting me on game that I can't even use but it's interesting to know how they move. Plus they just do direct wire transfers for large amounts. Normal accounts are only FDIC insured for $250k but $500 millionaire get different sets of rules, the main thing is to try to keep the government from taxing you like crazy because you gonna be making crazy $ of interest payments


(Edit)- Apparently now you gotta have even more than 10 million liquid because the one i knew of is not called "Abbot Downing" anymore, it's now just called "Wells Fargo Private Bank"

offshore banking / investments
investment citizenships
investment zones
real estate
delaware
trusts

 

[King Poetic]

Hopefully the brother beats cancer

I hate u have to come forward in certain states

 

[Michael's Black Son]

Hope he enjoys the cash and buys plenty of p*ssy

 

[CreepyMcCreeperson]

Depends on the state. Some states allow some anonymity. Other states you're required to tell the public your name.

If you establish a trust, they will claim it for you, so you can remain anonymous. And at that level of wealth, you need to work with an estate attorney to make sure your ducks are lined up.

 

[southpawstyle]

Hospitals and doctors licking their lips smh