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What if the owner is not a billionaire? You certainly don’t need to be one to own an apartment building, you probably don’t even need to be a multimillionaire,
by xyzzyz 6y ago
What if the owner is not a billionaire? You certainly don’t need to be one to own an apartment building, you probably don’t even need to be a multimillionaire, as you can finance the project on loans.
Additionally, the building is probably owned by an LLC, so even if the owner of the LLC is a billionaire, you can’t fine him personally, and his billions are irrelevant.
- rtkwe 6y agoYou need to have pretty significant assets to get a foot in the door to large buildings from what I've read these buildings are rarely the only collateral on the loan.
- lawwantsin17 6y agoYou just know everything don't you? What are you the owner's son? Fuck your worthless arguments.
- scrose 6y agoDirectly from the article: > The owner, Donald Bren, is reportedly worth $15.3 billion.
- titanomachy 6y agoAssuming he got rich by building this company, his billions in wealth would be mostly in the form of his ownership of the company. So not entirely irrelevant.
- xyzzyz 6y agoYes, but the company will almost certainly be structured in a way to limit liability. Most likely, each building will be owned by a separate LLC.
- deleted 6y ago[deleted]