[shmatt]

Correct. Even the worlds richest man can't buy an internet company without going into debt (or crashing the stock which their "richness" is derived from)

In the U.S at least, holding cash is considered the worst thing to do if you have wealth. Which then leads people to use debt

[rmbyrro]

Anywhere in the world holding cash and cash-based investments is a bad idea.

The government and banks will rip you off through inflation.

You can use debt to benefit from inflation, but it also carry its risks.

[huijzer]

Although Warren Buffet isn’t the richest, he surely can buy things with cash. In his last annual report, Berkshire reported 33 trillion in cash if I remember correctly. They didn’t find anything interesting to buy for a fair price so then they’ll just sit on their hands.

[SahAssar]

33 trillion would be more than the current US debt. It'd be more than 10 times the market cap of the most valued company. It'd be more than the combined market cap of the 100 most valued companies globally (seems to be at around 32 trillion for all of them).

[kwere]

BRK had a liquidity of $144 billion at the end of 2021