Of course, he’s not actually a Billionaire. He’s a Billionaire’s Heir, which is wholly different from a Billionaire. A Billionaire can’t get cut off. A Billionaire’s Heir, on the other hand, can. And at the moment my Billionheir’s money spigot is in the off position. At this point, Kanish is down to his last $120,000, and I shouldn’t have to say it, but $120,000, a significant sum of money for most of us, does not a Billionaire make. Not even close.Suppose you were paid $120,000 in cash every single day of your life starting today. It would take you just shy of twenty-three years to accumulate your first billion, and that’s assuming you’re not spending any of it. You’d also need a mattress the size of a two-meter-square room, and that’s assuming you’re stuffing it with neat stacks of $100 denominations.Now, if you decided to invest your daily $120,000 payments, and you did so shrewdly, then the pace at which you acquired wealth would quicken considerably. With that kind of guaranteed daily income, banks would beg you to borrow money from them, and it wouldn’t be long before that daily $120K installment would be enough leverage for billions in secured loans. With billions in real assets on the books, you would be a Billionaire, despite a paltry income of only $120,000 per day. You see, wealth is judged not by what you have, but rather by what you owe.As usual, I digress.
Of course, he’s not actually a Billionaire. He’s a Billionaire’s Heir, which is wholly different from a Billionaire. A Billionaire can’t get cut off. A Billionaire’s Heir, on the other hand, can. And at the moment my Billionheir’s money spigot is in the off position. At this point, Kanish is down to his last $120,000, and I shouldn’t have to say it, but $120,000, a significant sum of money for most of us, does not a Billionaire make. Not even close.Suppose you were paid $120,000 in cash every single day of your life starting today. It would take you just shy of twenty-three years to accumulate your first billion, and that’s assuming you’re not spending any of it. You’d also need a mattress the size of a two-meter-square room, and that’s assuming you’re stuffing it with neat stacks of $100 denominations.Now, if you decided to invest your daily $120,000 payments, and you did so shrewdly, then the pace at which you acquired wealth would quicken considerably. With that kind of guaranteed daily income, banks would beg you to borrow money from them, and it wouldn’t be long before that daily $120K installment would be enough leverage for billions in secured loans. With billions in real assets on the books, you would be a Billionaire, despite a paltry income of only $120,000 per day. You see, wealth is judged not by what you have, but rather by what you owe.As usual, I digress.
