Using Debt to Build Wealth with Tom Anderson #637
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Why Do You Think You Shouldn't Borrow Money?
When you think about billionaires, what percentage of them do you think borrow money? Most of them, all of them, unfortunately. So why are we seeing the affluent people in America, the 1% that could choose to not have debt, why do they choose to have debt? That's absolutely one reason that they do it is so they don't have to sell their assets and pay taxes on those gains. But sometimes if you see Elon Musk has many different businesses, but then he's like, hey, I'd like to buy Twitter. He wanted to fund that acquisition with debt by not selling his other assets. And so then he's constantly building up more assets. These are enriching
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