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“Hoarding money” is a non-problem. It’s also known as “saving money”. I would be quite surprised if the various cash rich companies of Silicon Valley are not ke

“Hoarding money” is a non-problem. It’s also known as “saving money”. I would be quite surprised if the various cash rich companies of Silicon Valley are not keeping their money in banks where it’s being lent out to people and businesses which need to borrow money. Even if they were keeping their gold in vaults, which would be harming them by denying themselves interest they are still not harming anyone. If you have an option to use a certain amount of resources and you don’t then those resources are still available to everyone else. If Bill Gates withdraws his net worth in cash and sets it on fire the productive capacity of the world is unchanged but he’s not going to use that money to buy anything. Everyone holding physical dollars is infinitesimally richer in terms of purchasing power.

refurb 8y ago
I would imagine most billionaires have their money in the same place as Benioff, tied up as equity in their company.
- rchaud 8y ago
  I would imagine they have it in tax shelters worldwide because they can hire the best tax lawyers and accountants, those who work in firms that actively lobby to keep arcane loopholes open so their client fees keep flowing in. If the company is publicly traded, executives' acquisition or disposal of stock is publicly disclosed through SEC Form 4: https://www.sec.gov/Archives/edgar/data/1512673/000120919118054901/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/1512673/000120919118... In October 2018 (so far), Jack Dorsey redeemed 103,035 shares @ a rough average of $80, bringing in $8,242,800 cash (pre-tax).
- barry-cotter 8y ago
  Same logic applies. The money is being put to productive use, not sitting there doing nothing. Whether it’s capital invested in a specific company or capital lent to a bank which acts as an abstraction layer for lending capital to many companies doesn’t change the fact that the money is being put to use.

refurb 8y ago

I would imagine most billionaires have their money in the same place as Benioff, tied up as equity in their company.

rchaud 8y ago
I would imagine they have it in tax shelters worldwide because they can hire the best tax lawyers and accountants, those who work in firms that actively lobby to keep arcane loopholes open so their client fees keep flowing in. If the company is publicly traded, executives' acquisition or disposal of stock is publicly disclosed through SEC Form 4: https://www.sec.gov/Archives/edgar/data/1512673/000120919118054901/xslF345X03/doc4.xml https://www.sec.gov/Archives/edgar/data/1512673/000120919118... In October 2018 (so far), Jack Dorsey redeemed 103,035 shares @ a rough average of $80, bringing in $8,242,800 cash (pre-tax).
barry-cotter 8y ago
Same logic applies. The money is being put to productive use, not sitting there doing nothing. Whether it’s capital invested in a specific company or capital lent to a bank which acts as an abstraction layer for lending capital to many companies doesn’t change the fact that the money is being put to use.