Are There Secret Billionaires? (Many More Than You Might Think)

Are There Secret Billionaires? (Many More Than You Might Think)

Are there secret billionaires?

There are many more so-called secret billionaires out there than many might think.

After all, hiding wealth can be fairly easy if it’s done in the context of a private company (in which case it’s subjective) or if something is done under wraps, such as kept offshore.

This full post from an anonymous Quora user has been edited for clarity.

It discusses the main points that any billionaire or secret billionaire might have to contend with.

This includes watching your spending, security, another section on expenses (doubly important), relationships and marriage, and investments.

It also includes practical life advice for everyone.


“I reached billionaire status a number of years ago; and so I answer this question from personal experience, and from what I learned as a result.

Watch your spending

Do not spend, officially claim (if not yet known to the government), or admit to having such wealth until consulting with Private Wealth Management professionals (not just accountants, but specifically: private wealth management), and putting in place a strategically advantageous tax/wealth management/asset protection plan—otherwise, it is likely your wealth will be short-lived.

Otherwise, you will soon find yourself facing a mind-blowing barrage of taxes, litigation, and other people attempting to find every possible way to manipulate your wealth into their pockets; to such a degree that you might be left with only a mere fraction of that wealth within only perhaps ~1–3 years.

(Note: If the wealth is through a private company, there is no need to disclose your wealth; but if the result of public stock ownership, then the government/public likely knows about it immediately. If inherited, it may/may not be known, especially if offshore, (editor’s note: or special jurisdictions with more privacy and other treatments), etc. Keep it as private as possible).

Security

Evaluate your security needs, and how you might be exposed/able to be harmed by others—it will be necessary to think with a near-paranoid mindset of your security needs (perhaps to “head of state” level of security).

Yes, at least sometimes, you will need to have private security/armed protection escorting you around—within the last few years, there have been several attempts to harm/kill, and kipnapping is a real concern for yourself and any child.

Expenses

Achieving that level of wealth is an accomplishment, but it won’t last long if you run out and start buying expensive toys.

Avoid buying anything showy, but instead spend on the highest quality (not the brand) of whatever you truly want—are you wanting it because you (yourself) truly want something; or is it at least partially to seek attention?

You will soon learn that spending for the purpose of attention, is a wasted/wasteful pursuit.

Marriage & Romantic Relationships

Avoid giving details about your level of wealth to anyone who might have relationship interest.

Often, many will figure it out on their own; but try to avoid confirming details.

Within months, I had a surprising number of females eagerly expressing their convenient interest in marriage—in some cases, to a shameful extent; do not fall for any of this interest.

Assume the worst, hope for the best; do not marry without legal protections, and do not give/spend on them, regardless of the sex-driven desire you might experience.

Investment

It is critical that you invest properly, and change your lifestyle as little as possible.

Your investments must yield at least as much as you spend each year—otherwise, you will have a net loss, and is likely to disappear before long.

(Remember that rarely is a billion ever simply in cash, able to spend; but is likely tied up in assets such as stock/company ownership, property, etc, and isn’t able to be simply spent or used in a cash-spending scenario.

Often, a surprisingly small amount is actually ever cash; nor should it be kept entirely liquid in cash).

While not all-inclusive, these details are likely sufficient to provide insight into the scenario, and some of the considerations that will be necessary.

Where Do (Secret) Billionaires Keep Their Money?

Where Do Billionaires Hide Their Money?

Why Successful People Hide – Grant Cardone

A Guide for the Modern Global (Secret) Billionaire

 

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