You find the answer below.

First of all, your question is probably based on a wrong assumption: Billionaires do not store large amounts of money in banks.

There are two reasons for that:

1. They do not have much cash: Becoming a billionaire does not mean having 1 billion in cash. It means having a net worth of 1 billion or more. In most cases this net worth is based on the valuation of a company they own. So, the money is in the company. But even the company does not really have the money, as the valuation of the company is based on its assets. And only a small portion of these assets are actually “cash money”.
2. The reason they are billionaires is, that they do not store their money in banks, as this is the least profitable thing you can do. The way a bank makes money, is by taking the money you stored there and reinvesting it. So, there are only 2 reasons for having large amounts of money stored in banks. Either you are highly risk-averse or you do not know how to invest your money in a profitable way. Both cases are rather unlikely for a billionaire.

So, in which banks do billionaires store their money?

However, even billionaires have some money in the bank to cover their living costs.
These banks probably meet the following criteria:

They are located in a developed country: Billionaires tend to be risk averse and avoid situations where they won’t have access to their money. So, for example, putting their money in the bank of a politically unstable country would not be a good idea.


They offer high interest rates: As a billionaire you are in a good position to make an individual deal with the bank. So, you would probably get a higher interest rate than others. There are two reasons for that:
1. You have more money in the bank. The more money you store in the bank, the more money the bank has to work with. Larger amounts of money give them the chance to close better deals / investments.
2. You might have a network of other potential profitable customers. So, the bank is willing to serve you in the best way they can, in order to get access to your network.

They have connections: The more money that enters the game, the more political the game gets. Whereas someone with lower capital might have a look at different banks and compare exactly what they offer, for a billionaire it’s more about contacts. A billionaire may know someone who knows someone who actually owns a bank. They then sit together and negotiate a deal.

Yeah billionaires like me don't keep money in banks.

This is deep.

XXXXTENTACION:
Yeah billionaires like me don't keep money in banks.

wia u dey keep ur money?

Voy:
wia u dey keep ur money?

Inside kolo

Voy:
wia u dey keep ur money?

bought some shares with it and i invested some into stocks and bonds.

XXXXTENTACION:
bought some shares with it and i invested some into stocks and bonds.

keep it up

Goldenrod1:


Inside kolo

dat one follow

Voy:
You find the answer below.

First of all, your question is probably based on a wrong assumption: Billionaires do not store large amounts of money in banks.

There are two reasons for that:

1. They do not have much cash: Becoming a billionaire does not mean having 1 billion in cash. It means having a net worth of 1 billion or more. In most cases this net worth is based on the valuation of a company they own. So, the money is in the company. But even the company does not really have the money, as the valuation of the company is based on its assets. And only a small portion of these assets are actually “cash money”.


2. The reason they are billionaires is, that they do not store their money in banks, as this is the least profitable thing you can do. The way a bank makes money, is by taking the money you stored there and reinvesting it. So, there are only 2 reasons for having large amounts of money stored in banks. Either you are highly risk-averse or you do not know how to invest your money in a profitable way. Both cases are rather unlikely for a billionaire.


So, in which banks do billionaires store their money?

However, even billionaires have some money in the bank to cover their living costs.
These banks probably meet the following criteria:

They are located in a developed country: Billionaires tend to be risk averse and avoid situations where they won’t have access to their money. So, for example, putting their money in the bank of a politically unstable country would not be a good idea.


They offer high interest rates: As a billionaire you are in a good position to make an individual deal with the bank. So, you would probably get a higher interest rate than others. There are two reasons for that:

1. You have more money in the bank. The more money you store in the bank, the more money the bank has to work with. Larger amounts of money give them the chance to close better deals / investments.

2. You might have a network of other potential profitable customers. So, the bank is willing to serve you in the best way they can, in order to get access to your network.

They have connections: The more money that enters the game, the more political the game gets. Whereas someone with lower capital might have a look at different banks and compare exactly what they offer, for a billionaire it’s more about contacts.

A billionaire may know someone who knows someone who actually owns a bank. They then sit together and negotiate a deal.

Indeed.