I sent this note to a supporter. I’ve said it quite a bit in recent times but its worth saying over and over. We were talking about Bill Gates.
BTW do you realise most of the wealthy have much more money than you officially hear?
Most of it is removed from public companies and it disappears and is handled by a “family office” – a special banker just for the wealthy.
In addition to what I wrote above I want to say. In London they have banks, literally, one bank per super-rich person. These are known as a “family office”. It might have a staff of a few dozen people. Their goal is to invest and hide the wealth of the super rich.
In the UK you get trusts, which are extremely slippery… and when you hand your money to a trust, then the money no longer belongs to you … even though in reality you formed the trust. Trusts disappear … there is not accounting for them … they’re gone.
I heard that someone like Bill Gates, that 75% of his wealth has been moved into trusts. The British are the world’s specialists at hiding the monies of the rich. They are probably better than even the Swiss bankers.
Britain has about $50 trillion … yes, you heard me right … $50 trillion hidden away like this..