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What is it like when billionaires sell like $10 billion worth of shares? Do you need a special bank account to hold that much?
by UltraSane 1mo ago
What is it like when billionaires sell like $10 billion worth of shares? Do you need a special bank account to hold that much?
- akho 1mo agoAt that point, there's an IB team handling the deal, an LLC holding the money, and probably several banks holding its accounts. Few banks are happy to handle that kind of concentration in a retail sight account.
- UltraSane 1mo agoIs it even possible to hold that much in a regular checking account?
- polytely 1mo agoI'm guessing at those sizes the bank holding that much of your stuff becomes a risk for them so they have someone you can talk to directly to smooth over any potential problems
- bazzargh 1mo agoyes, you can't stick with a 32 bit account any more, needs 64.
- greenavocado 1mo agoWhen I worked on banking systems for analyzing demand deposit accounts and ledgers we used Snowflake's NUMBER type
- UltraSane 1mo agoMoney should never be stored using floating point variables. That is why the Decimal type exists and why IBM Mainframes have hardware acceleration for binary coded decimal math.