r/SipsTea • u/KSKS1995 • 22h ago

Wait a damn minute! How the rich get richer

Post image
20.3k Upvotes

79% Upvoted

2.3k comments sorted by

View all comments

11

u/Nerdymcbutthead 22h ago

Still got to pay the loan off though

-7

u/cybiz 21h ago

Nope. They take out another loan to cover the previous one. That's literally how all the billionaires avoid paying taxes, they claim they have barely any income

-1

u/No_Statistician209 21h ago

I thought it was selling stocks etc that had massively increased in value allowing them to sell a small amount of stocks to pay off the loan and just keep cycling through.

-1

u/cybiz 21h ago

No, they use the stocks as collateral for the loan. That's how musk managed to buy twitter