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What would you do with it

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    What would you do with it

    Hi Everyone

    Like many people I dream of winning the lottery, I've also played out in my head what I would do with the money, probably the same as hundreds of others.

    What I don't understand is what people who are billionaires or multy millionaires are doing with their money? Now I know it's not sitting in a bank somewhere, and is invested, but why? Why don't they help others. I expect some give to charity, but with so much money they could really make a massive difference to peoples lives.

    Why don't they help? .................................................. .................Carol

    #2
    I’ve always wanted (don’t we all) to win big on the Euromillions lottery. I’m talking €140 million here. Simply because there’s so much I could do with it via good causes. Every day you read about a family in desperate need, either through illness or hardship. I would seek them out and make their lives that much better but not with a camera crew following me.

    I was watching a programme last night on private jets. A 777 jet customised for a private client costs $500 million.....just insane. I get a bit miffed when I see celebs on the tv asking us to donate money to a charitable cause. Do they actually donate themselves ? Who knows tbh. The more they have the less they want to part with it. We have one guy in the golf club who simply disappears when the drinks are on order. He could buy and sell you with the money he has.

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      #3
      My mum always said to me, they don't get rich by spending it!! Knew I had to be doing something wrong ......................................Carol

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        #4
        Originally posted by carol, welwyn garden city View Post
        Hi Everyone

        Like many people I dream of winning the lottery, I've also played out in my head what I would do with the money, probably the same as hundreds of others.

        What I don't understand is what people who are billionaires or multy millionaires are doing with their money? Now I know it's not sitting in a bank somewhere, and is invested, but why? Why don't they help others. I expect some give to charity, but with so much money they could really make a massive difference to peoples lives.

        Why don't they help? .................................................. .................Carol
        I think many do but they don't talk about it. In this day and age, apart from coming over as brash, letting the world know your ability to spend, isn't a good idea. Not everyone who is wealthy wants the world to know what they do and so keeping under the radar must be far more satisfying than letting the world and his wife know your business.

        Comment


          #5
          A lot of wealth is in intangible assets that are worth very little in reality as they don't have utility value(provide a service or an income)

          The value is measured against others being able to buy it.

          Paintings, cars, antiques, all worthless when no one wants them.

          A lot is also locked up in equities that are dependent on the business continuing to work.

          The absolute value is less relevant than what the assets create.



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            #6
            Originally posted by carol, welwyn garden city View Post

            What I don't understand is what people who are billionaires or multy millionaires are doing with their money?
            I count it!
            See my cruise blog: HERE

            Comment


              #7
              Originally posted by Malcolm, Essex View Post

              I count it!
              Funnily enough I have a friend who is pretty wealthy, probably a millionaire. He won't spend a penny on himself. Drives an old banger and buys clothes from Matalan sale. I asked him once what was the use of having money if he won't spend it. He said "well I can count it"! Not sure he was joking.

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                #8
                Originally posted by PeterM, Southwell View Post

                Funnily enough I have a friend who is pretty wealthy, probably a millionaire. He won't spend a penny on himself. Drives an old banger and buys clothes from Matalan sale. I asked him once what was the use of having money if he won't spend it. He said "well I can count it"! Not sure he was joking.
                My mum's uncle was a multi millionaire - a person who worked very hard, made a lot of money and what some would term a self made man. He died in his 50's from a heart attack. Money does not always bring you happiness. As he became ill, he gave up his business to his children, but all the money in the world could not buy him good health. Very sad.

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                  #9
                  I always said that if I won a lot of money on the lottery - £150 million, I would probably be in contact with an animal charity - perhaps PDSA - and build a new state of he art centre for them and then staff it, ensuring trainee vets, vet nurses and carers could train giving them opportunities to learn. So a training centre linked to an animal charity. This would benefit both humans and animals. I would make it a condition of the funding that I would sit on the board for this centre, so that I knew where all the money was being spent.

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                    #10
                    Originally posted by carol, welwyn garden city View Post
                    Hi Everyone

                    Like many people I dream of winning the lottery, I've also played out in my head what I would do with the money, probably the same as hundreds of others.

                    What I don't understand is what people who are billionaires or multy millionaires are doing with their money? Now I know it's not sitting in a bank somewhere, and is invested, but why? Why don't they help others. I expect some give to charity, but with so much money they could really make a massive difference to peoples lives.

                    Why don't they help? .................................................. .................Carol
                    Bill Gates has done a lot of good - donated to many scientific projects in an attempt to find a vaccine for covid.

                    We have a family lottery syndicate but none of us wants to win a lot of money - we don't want the stress.

                    Your health is your wealth.

                    Annie

                    Comment


                      #11
                      A close family member who is worth several million does not have an ostentatious life style and is very down to earth. He has set up a charitable trust that we only know about because husband is on the board. They support several charities, mostly health based, under the name of the trust.

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                        #12
                        Originally posted by Mrs M View Post

                        I think many do but they don't talk about it. In this day and age, apart from coming over as brash, letting the world know your ability to spend, isn't a good idea. Not everyone who is wealthy wants the world to know what they do and so keeping under the radar must be far more satisfying than letting the world and his wife know your business.
                        A good example is George Michael. He gave money anonymously to ‘normal’ people, childline and other charities. He made sure Andrew Ridgeley name was included in songs so he’d receive the royalties.
                        don't want to work, just want to cruise.

                        Comment


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