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re: Bruno Mars allegedly has a $50 million gambling debt with MGM
Posted on 3/18/24 at 9:27 am to StringedInstruments
Posted on 3/18/24 at 9:27 am to StringedInstruments
quote:$175 million net worth doesn't mean he's got $175 million in cash sitting in the bank. Probably only a small fraction of that $175M is actual cash while the majority of that $175M is the equity value in business investments and property holdings. Its a lot bigger deal when you have to start selling off assets to pay a debt instead of just being able to write a check.
$50 million is nothing when you have $125 million to $200 million leftover.
3
Posted on 3/18/24 at 10:29 am to Tiger Prawn
quote:
$175 million net worth doesn't mean he's got $175 million in cash sitting in the bank. Probably only a small fraction of that $175M is actual cash while the majority of that $175M is the equity value in business investments and property holdings. Its a lot bigger deal when you have to start selling off assets to pay a debt instead of just being able to write a check.
Assuming he at least has partial ownership in his catalog, he'll be collecting royalties til he's nothing but a pile of bones 6 feet under.
Also, he's not an athlete with a limited shelf life on his earnings. This guy can be producing and performing for decades to come. So yeah, $50m is not much more than a drop in the bucket.
Posted on 3/18/24 at 12:06 pm to Tiger Prawn
quote:
$175 million net worth doesn't mean he's got $175 million in cash sitting in the bank. Probably only a small fraction of that $175M is actual cash while the majority of that $175M is the equity value in business investments and property holdings. Its a lot bigger deal when you have to start selling off assets to pay a debt instead of just being able to write a check.
Okay.
What do you think he’ll have leftover once he settles his gambling debt?
The number doesn’t really matter to me. That’s the point. He will still have a shitload of money compared to most people and will live a better life than almost everyone on the planet. Which is why I don’t care about $50 million or think it’s that substantial to him.
Posted on 3/18/24 at 1:12 pm to Tiger Prawn
quote:
Its a lot bigger deal when you have to start selling off assets to pay a debt instead of just being able to write a check.
yes, yes it is... another famous 24K gold loving celebrity will soon find this out as well
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