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Mentality. One day, I aim to have this kind of conversation with the bank. Edit: also, UHNWI is not THAT much faster than saying ultra high net worth individual. It’s the banking equivalent of shortening the word recommendation to recommend, which is technically more efficient but by, like, 2 syllables. The word with the most syllables is ‘individual’, so the acronym primarily is skirting around saying the word individual a bunch. But all the other words in the acronym make it to where you spend a ton of time saying the acronym versus saying what you mean that it kinda becomes a moot point. Like, if the acronym was 3 letters then it’s faster and easier to remember…even if it was UHNI that’s proportionally better than one more letter. But when your acronym is 5 letters long and it stands for 10 syllables and 5 of them are the word individual then that’s just a little pretentious to me.
True, but it also makes you look like an ass. Fortunately for that kind of guy, bankers are all massive assholes who rely on magic money (fractional reserve banking aka being a thief) to make a profit. Assholes flock together.
What does that mean if u have millions in the bank n u open a line of credit let’s say I swipe my debit card and put credit in my line of credit I’d like to have fifty million and my debit same thing n it a 50 million in savings I can’t just swipe or take money out to buy a house cash that cost 20 million I’ll pay cash borrow a armored car have the salesman drive it to his business why do u need liquidity to spend your money can someone explain this
This sentence was atrocious but I think I got the gist of it. Adam Neumann's company was given hundreds of millions valuing his company at the time(WEWORK) at billions of dollars. He was CEO and was holding equity(shares) of his own company but because the company was pre-IPO(not yet public on stock market to buy/sell by individual traders/institutions), he was illiquid(meaning he himself had little cash but he himself with his title was estimated to be worth a lot in the future when the company does hopefully IPOs. They extend him a line of credit to use like how a normal credit card is but in this case, they allow him such a large line of credit(100 million) for EQUITY/SHARES of that company to hold until the "liquidation event" happens(IPO).
