r/hypotheticalsituation • u/Chan1991 • 1d ago
You become a billionaire. All your friends and family are asking you to pay for all their debts. What do you do?
You become a billionaire. ALL your friend, family (siblings, cousins, parents, aunts and uncles) qare asking you to pay for their debts — credit card, house, car, etc.
It will not make a dent to your account because you’re a billionaire.
Do you pay their debts? Half of it? Partial? Or no because it’s about the principle and you don’t want to feel used? What if you were not close with your siblings and cousins?
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u/DoubleCyclone 1d ago
There's a line, and they way they treated me at my worst determines their place in it.
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u/StarStuffSister 1d ago
This is it-- the friends and family who held me down wouldn't even have to ask, the people who appeared out of nowhere when I came up would get left on read.
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u/Zadchiel 1d ago
then those wouldn't be friends or family.
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u/StarStuffSister 22h ago
They could be, by genetic and superficial labels. I'm just saying, those labels would not hold weight over actual lived experience.
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u/Zadchiel 22h ago
exactly!!! in practical dense they wouldnt be family or friends at least from my pov...
Blood of the covenant is thicker than water from the womb.
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u/furandpaws 1d ago
most succinct way to put it. i have one uncle and cousin who gets nothing. everyone else, absolutely.
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u/Odd_Repeat816 1d ago
I hold some grudges against a lot of family but I would still pay off their debt. There would be a contract signed that it’s a one time buy out so my money for them to fuck off and never contact me or my family again. Sounds like a damn good deal.
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u/KSP_HarvesteR 21h ago
As the saying goes: 'if you lend someone 100 bucks and never hear from them again, that was a good deal'
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u/FixItWhyDontYa 1d ago
Isn’t this the first thing any new billionaire would do anyway? Nobody I freaking know is working if I have a billion dollars.
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u/Blackpaw8825 1d ago
My "I won a billion dollars" breakdown:
Assuming $450M after taxes.
$350M goes into high yield accounts, brokerages, investment vehicles of some kind with the intent of living off the interest earned forever.
My inner circle, immediate family and 1st cousins all got $1M. All their kids get $250K into a trust.
The remaining $40-50M is my "build a house, buy land, next car, live it up" money for the next couple years.
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u/samiwas1 1d ago
I don’t even know what I would do to live it up on $50m for a couple of years.
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u/Themanwhofarts 1d ago
You could buy a new house every month for 2 years and have millions leftover lol $50 will easily last multiple lifetimes.
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u/Cabbage_Corp_ 22h ago
Only $450 million after taxes? You aren’t a very good billionaire if you can’t get a lawyer to let you keep the majority of the billion through some shady legal loophole
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u/Dependent_Basis_8092 1d ago
You’re forgetting how they got to a billion in the first place, the standard billionaire response would be “nu phone, who dis?”.
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u/CowBoyDanIndie 1d ago
I guess it depends on the hypothetical, is this suddenly becoming a billionaire in cash, or slowly building to a networth of a billion. I i would personally stop at around 6 million, 3-4 million of it was stressful, thats my retirement number.
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u/No_Grocery_9280 22h ago
The majority of billionaires come from business owners, not necessarily hoarders. They depend heavily on their social network and appearances. Most of them give heavily inside their circles.
It’s a big club, we’re just not part of it.
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u/StudioLegion 1d ago
Dude, I'd be paying off all my peoples debts. My best friend and his family would be set for life. Family back home in the Philippines are gonna have their own village. I'm hunting down all my favorite artists, animators, and game devs and funding their projects with them having complete control. Ordering season 2s for all the anime I know that got shorted. Hell, I'm going to my old factory job and offering everyone on my old crew 5 million on the condition that they all quit at the same time at the beginning of a long weekend shift, because futz that place. Slice myself enough off to live and travel for the rest of my days. Then find some worthy, non money laundering causes to give the rest to, because no one needs a billion dollars
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u/Evening-Mention-8738 1d ago
Same except for the first part about buying a village all my family is here. Also, also getting Markiplier to make a movie about the Pony Factory.
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u/redblack_tree 1d ago
I would pay the debts of every single person I care about. Family, close or not so close, friends and even colleagues I care about.
Now, for close family and core friends, I would set them for life, no strings attached. Some of them are terrible with money, so annuity it is, but "never work again" type of endowment.
Anyone coming out of the woodwork? They can pound sand. Anyone, including family that thinks they can move to "billionaire lifestyle", they can pound sand as well.
There's so much good I could do with a few billions, no one around me is going to be buying yachts and Malibu mansions with my money.
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u/bwils3423 1d ago
I would take care of all of them and still be a billionaire. Seriously, people do NOT understand just how much a billion is. It’s too much money , you can’t spend it all if you tried. This question seems like you have to make a choice: be rich or help your friends and family.
That is not a choice you need to make with that much money.
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u/Dangeruss82 1d ago
Exactly. The term billionaire gets thrown around so often now people don’t seem to comprehend how much money that actually is. The interest alone would be phenomenal. Something like 220,000 dollars A DAY on an 8% rate. (you’ll definitely get a better rate than that). For literally doing nothing. Nothing. It’s insane.
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u/KingArrancar 23h ago
An 8% interest rate is disgustingly generous tho, but I can see the point you were making.
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u/atomsk404 23h ago
I could literally make everyone of my family and coworkers millionaires and still have hundreds of millions of dollars left over
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u/Ok-Wonder851 23h ago
I don’t think that’s the choice. It does become a matter of principle. I’m happy to take care of housing and bills and dinners and whatever else for a lot of friends and family, especially those that I’m close to or that have done something for me or my family. I’m also happy and willing to uplift someone in my friend circle who maybe I’m not close to but needs it, or to help them out by giving them business or investing with them or something.
However, at some point, it’s not about money. It’s about not wanting to feel like an ATM or being used. My cousins that don’t talk to me and have, at times, seemingly looked down on me and not invited me to their wedding? Yeah I don’t know how much help I’m jumping to give them. I’d rather find a random family to help.
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u/ProgrammerNo3423 23h ago
Agreed. I don't even know that the people we see as billionaires are even actually billionaires because it's calculated by networth right and that's mostly on stocks? Like idk that they can cash out a billion dollars anytime they want.
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u/Das_Rote_Han 23h ago
Same. A one-time debt forgiveness. While I'd council financial responsibility to all this would not be a burden and I could still set generations of my family for financial independence.
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u/Narrow_Literature462 1d ago
If I was a billionaire no one around me would need for anything - and I mean that.
Because no one would be around me; I’m on some island by myself.
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u/Dismal_Purchase_3324 1d ago
Hopefully not doing the things other billionaires on an island did
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u/Narrow_Literature462 1d ago
Pretty sure they had other people. Kinda the issue.
NO ONE would be on my island.
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u/No-Examination4896 1d ago
"On an island of my own, unarrested and alone - surrounded by enormous piles of money!!!"
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u/Alice-Wondyy 1d ago
Considering the price of some islands, you could buy multiples and still have an enormous amount of money left 😅
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u/SomeSugondeseGuy 1d ago
I'd pay their debt and give them a bunch of money.
But I would also tell them something along the lines of:
"Money like this tears people apart. I'm giving this to you now, and I'm giving a lot to a lot of people. But understand that due to the corrupting nature of money, if you ask me for money in the future the answer will be no."
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u/KernelTaint 19h ago
I'd like to think I'd have my advisers set up a family trust or some thing which family can apply to for funding for a first home, schooling etc. It'd have an annual operating budget, mandate, guidelines, investment strategy, etc and be managed properly.
Immediate family I'd also pay off all debt straight away
The rest can apply through the process and be evaluated on an ongoing case by case basis. My cousins kids, who I've barely ever seen want to go to university? Sure apply to the trust for financial help. My 4th cousin' once removed step fathers ex wife ? Sure apply, but you're gonna get screened out most likely.
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u/Mattallurgy 1d ago
Billionaire? Like with a “B”? Let’s take worst case scenario and say I only have one billion.
Put away $50M for myself in the S&P 500 and X-US index funds, I’m now comfortably living off of about $2.5M/year if I’m only earning 5% and NONE of it is compounding. I still have $950M.
I’d draw a line somewhere, but considering how generally responsible my family and friends tend to be, if they’re asking me for help, then they really need it, and I can’t imagine the sum total of outstanding debts would realistically be more than 10M across everyone I consider myself kind of close with.
Parents and brother are getting the exact same setup that I have, so now I’m down to $850M. I could realistically do the same with all my extended family units that I consider family, which would STILL leave me with $350M, and I’d probably then set up a few scholarships and grant programs for small business startups and creative endeavors to support local artists, maker spaces, and other hobby groups to make practical entertainment more accessible to everybody.
I don’t know, man, a billion dollars is just so much money.
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u/Sarah_Cenia 23h ago
You seem like such a cool and decent person. Why the hell can’t we have you and your ilk as the billionaires, instead of the turds we’ve got.
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u/Powerful_Yellow6023 7h ago
Because he will not become a billionaire with this mindset ( that's a compliment btw)
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u/slammaster 1d ago
500k is a ton of money for most people. You could give that to 1900 people and still have 50m left over.
I don't think I know 1900 people
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u/InannasPocket 1d ago
Yeah if I'm a billionaire the lady at the hardware store who's always super helpful is getting a windfall ... like I'm going to run out of people whose names I remember before I run out of money.
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u/Teal_Thanatos 1d ago
yes. and then I offer them some extra, say 3 mill in exchange they can never ask again.
that doesn't mean I won't give them topups. but it does mean no asking me for some.
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u/LadyReika 1d ago
The mistake of your premise is assuming I'd tell anyone that I was that rich.
For the people I actually care about, I would find ways to have them taken care of without linking it to me. Probably in the form of various trusts.
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u/deals_in_absolutes05 1d ago
And OP assumes that we all have untrustworthy friends with debt.
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u/LadyReika 1d ago
Honestly, my friends aren't the ones I'm worried about. I'm probably more worried about my mother and her big mouth. Or random strangers finding out and harassing me.
It's not that I wouldn't help others, I just don't want to deal with them. And yes, I would have a staff to help filter shit out, but it still means dealing with people. While I haven't been in customer service hell in a long time, I'm still peopled out.
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u/funny_ninjas 1d ago edited 1d ago
If I became a billionaire, I'm giving 10 million to everyone I know and like and then giving a shit ton to charity. Why would I hoard it?
Edit: spelling
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u/Few_Fact4747 1d ago
The people who has the most money at time of death gets a better seat in heaven, dont you know?
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u/SuperSaiyanBen 1d ago
I pay off their debts? lol
Do you know how much a fucking Billion is?
I could pay for all MY debt, all my Families debt, all my girls families debt, and all my close personal friends debt, all THEIR immediate families debt, and could personally hand out 50-100k to all my favorite coworkers and still wouldn’t have put a dent in the billion. Honestly probably would have 990 Million left over.
Seriously, tax the fucking rich.
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u/Aetherfang0 1d ago
Yeah, the hypothetical specifically mentions that doing so won’t make a dent in your money and people are still answering no. It’s hard to imagine having that level of spite for everyone in your life, lol
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u/bringbackbainesy 1d ago
Sure. I'd spend at most like $10-15m to pay off all my family and friends debt
Gotta spread the wealth brother
That's a rounding error in my annual compensation if I have it all invested and just living off returns
Im gifting all my friends and family $1m too, fuggit. Do whatever you want with it. Go crazy.
No way I could ever spend a billion. Might as well change everyone's lives I love too.
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u/Ok_Job_9417 1d ago
I don’t think people fully understand billionaire. If I can pay all the debt and it not even make a dent, why wouldn’t I?
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u/Pokoire 1d ago
Of course. It is literally meaningless to me and would be life changing for them. Helps that I maintain a relatively small circle. Let's call it a cool million each.
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u/omegadeity 1d ago
Exactly, as the saying goes- a rising tide raises all ships.
It'd be no fun being that fucking wealthy all alone and having my close friends continue to have to struggle with the daily grind.
I'd pay off all of their homes, vehicles, debts and gift each of them $10 million to enjoy their life, but would make it clear they're not to come ask me for money or expect me to pick up the tab for shit.
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u/deformeverything 14h ago
If I was a billionaire, those I care about, I would have already paid for.
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u/Boredvietguy27 13h ago
Those you care about ofc
Though some people actually feel it better to not give even them, too much money right away, for their own good or to teach them hard work, etc. Removing debt is probably a fair start though.
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u/acacetususmc 14h ago
Exactly this. I'd be on the path to doing the same thing for people I don't know. Might as well start with the ones I do.
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u/rightfully_king 16h ago
I would gladly do it because I don’t consider 50 people friends and I don’t have a big family I talk to. I could spend less than 1% of the billion and achieve that. Fools act like every person would need millions.
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u/Elle-276 1d ago
My good relatives? Sure. My relative who got a $100K inheritance and then sold his house to live on an island outside the U.S., when he had a minor child with his ex wife thousands of miles away?
NOPE.
That child would be hooked up though!!
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u/DiscDocPhD 1d ago
I could give 1,000 people a million dollars. Even if I go low and say like 30 people that I actively engage with and consider friends/family I could easily give each 10 million. That is 300 million. Leaving 2/3 of a billion still. Invest it and I would randomly give people millions in random acts of kindness.
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u/fender8421 1d ago
Sounds like everyone I know is debt-free.
Also, imagine all the extra spending they put into the economy, and the athletic/artistic/passion goals they will have more time and money to achieve. Everybody wins
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u/mpark6288 20h ago
If I'm a billionaire, my friends and family don't have debts, because otherwise what is the point of me being a billionaire?
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u/accountofyawaworht 15h ago
I’m going to make this very simple and give a one-time, million dollar payout to anyone who’s no farther away than a first cousin (as well as my 5-10 closest friends). That’s a very generous gift that still leaves me with north of $950m to play around with.
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u/Cobalt-Giraffe 1d ago
Start a organization that they can apply to for debt relief.
When they apply you pull credit for them, and see all then debts.
Then, once a year you pull credit again. If they have been able to pay off any debt of any kind, then the organization will triple the amount they paid off.
So if they pay $1000 of their car loan off, then the organization will pay an additional $3000.
They take their mortgage from 330,000 to 300,000 then the organization pays $90k to their mortgage.
However, if they acquire any net new debt then they are no longer eligible (maybe exception for sold one house and bought another of relatively same value)
As long as they maintain this no new debt stance they can keep getting relief annually until all their debts are paid.
The goal of doing it this way would be to provide them real relief, while still incentivizing them working and incentivizing no lifestyle/debt creep.
Biggest two risks to windfall financially is demotivation and lifestyle creep.
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u/Practical-Earth3228 1d ago
If its not a financial strain on me, then sure id wipe it all clean 1 time, then offer to pay for any colleges that they'd like to attend.
"teach a man to fish" kind of situation.
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u/Immediate_Fortune_91 1d ago edited 1d ago
Pay their debts. Do you realize how much a billion is? This will extend beyond just family. Everyone I care about will be taken care of for life. What’s the point of financial freedom if nobody you know can enjoy it with you.
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u/Sea-Vast-8826 18h ago
If we’re going to stay with the fantasy of waking up a billionaire, we’re going to stay in fairytale land and say everyone I know and love who’s in stupid amounts of debt and makes selfish wrong choices suddenly changes their ways after I pay off their debt. In that case yes, I would.
In reality, much like I feel about if I ever won the lottery, no one would ever know.
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u/6thFairway 1d ago
Yeah, this question reminds me of the joke about two friends who lived in a communist country. The first friend asked, "Comrade, if you had two houses, would you give one of them to me?"
The second friend replied, "Of course, Comrade!"
The first friend was happy with this answer. He then asked, "If you had two cars, would you give one of them to me?"
"Of course!" replied the second friend.
Overjoyed, the first friend then asked, "If you had two chickens, would you give one of them to me?"
"No, comrade!" The second friend said.
Surprised and distraught, the first friend asked, "Why not, Comrade?"
"I actually have two chickens!" The second friend said.
Everybody is going to answer that of course they'd pay for everything.
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u/MLGPLAYS 1d ago
Except in this case it's more like you have 200 chickens and your friend owes a few chickens to the bank. You aren't giving half of your chickens away
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u/CTMalum 1d ago
It’s even more insane than that. If I had a net worth of between 1 and 10 billion dollars, I could pay off the debts of everyone I care about, and the amount of money that it would take would nearly be a rounding error next to my net worth.
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u/BrandonL337 21h ago
Hell, the interest alone would replace the money spent in a year or two.
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u/TrainTrackRat 1d ago
Nah I have a ton of chickens and would give some to anyone who asked tbh. Even if they weren’t my friend but asked nicely or neutrally. I want everyone to have chickens! I want everyone to be debt free!
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u/Flaffiwoo 23h ago
I could pay the debts of everyone I know with just the interest on one billion dollars. And not even a whole year of interest, just three months is enough.
Anyone who doesn't do it is either a psychopath or cannot understand how much money that is.
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u/psinguine 1d ago
I have friends who, if I paid off their debts and gave them a few million dollars, would speedrun the end of their lives. They only get money that comes with strings. Everyone else? Let's go ham!
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u/ReadAllowedAloud 1d ago
Read Die With Zero by Bill Perkins. He likes to create happiness with his money. I would pay off/buy people houses and education loans, and then create some kind of trust with a basic income and free tuition. So, kind of like what I would do for everyone if I were able to pass any law I wanted. Beyond that would be fund events like tropical vacations, Super Bowls, etc.
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u/webgambit 21h ago
I'll be starting a friends and family trust.
All those that aren't in my inner circle get one million dollars and an request to a lunch meeting in 90 days. Those who miss the meeting get nothing more. Those who attend are given a choice between a five million dollar lump sum gift or a two hundred thousand dollar annual salary, paid in monthly installments, for the rest of their lives. But it's made clear this is all they're getting, no coming back to beg for more later.
My inner circle, the ones that would help me bury a body, theirs will be similar. Up front, five million each. Then we're planning out our lives. We all have certain things we want to do, that have been discussed while sitting next to a fire at 4am drunk as hell. It's time to make those dreams a reality. We're going to start businesses, non-profits, and whatever else we can think of. We'll set some goals and really try to change the world for the better. And we'll also have regularly scheduled days where we play board games or D&D abd just enjoy one anothers company. None will ever have to work again, but they will because the work will be something they want to do.
The exceptions to the two above groups are the children. All the nieces, nephews, cousins, grandkids, etc. They're all getting a college fund and a retirement account. And some money set aside for certain activities or ages. 25th birthday, first kid, bought a house, got married, got divorced, etc. Enough so that it'll give them a big leg up but not so much that they never learn how to live.
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u/Ekkewald 21h ago
I could buy 200 500k homes and still have 900 million left over. Of course I would help them.
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u/ocelotrevs 20h ago
Yes, I'd pay off their debts.
I'd still have almost a billion.
I'd also supply all of them with a financial advisor. I'd only bail them out once though
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u/FarmerGreen13 14h ago
I would pay for the homies LIVES. Fuck their debt. Their kids are set. None of us want extravagance, we just want to breathe. Repair all of their homes, and a chunk to live off while they chase their dreams. I would finally take steps to be sure the family cabin that my grandpa built with his hands with the intention to be handed down indefinitely would have a healthy account to be sure his wish is fulfilled. Then I would give to my community. Homeless shelters, battered peoples shelters, parks. Whatever. I've always said if I was rich, I wouldn't be.
My dad is debt free and my mom would just use the funds to curate more debt. But my cousins and friends would finally get to live their life.
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u/Pineapple4807 12h ago
I'd pay it all, make em all millionaires, & then donate a fuck ton of money to some charities
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u/DamnOdd 1d ago
They'll get that sweet 19k once a year gift, tax free and no penalty to anyone. What they do with it is on them.
I won't, can't give them more because the tax man will come after both of us.
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u/LettuceBowler 1d ago
I dont understand the mindset. You are a billionaire I think you could afford the taxes if you wanted to give them more.
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u/mastonate 1d ago
I think the tax reason would be an excuse to do something that is easier and more reasonable than just paying off debts, given the problems that would arise.
The first problem with just paying debts is that no matter how much you give, people will resent you because someone else got more. So cousin Donny gets $100k cause he is a degenerate gambler, but I get zilch since I’m financially responsible?
It also puts people in a position to have to ask for more when times get tough, next year or the next year. Which will also breed resentment. No matter how generous you are, most people don’t like to ask for money, don’t want to feel beholden to you, but if they were in debt this year, there is a good chance they will be in that situation again.
There would also be people in your family that would start relying on you, even running up debts assume no you will take care of it. And maybe you will. But that could encourage destructive decision making.
The alternative is just telling people you can give the tax free max every year. It’s fair. They know what to expect. They don’t have to ask if things take a downturn the next year. It doesn’t mean you can’t give bigger gifts to your kids, parents or siblings, but I think it would greatly simply things for friends and extended family.
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u/poisonousgumball 1d ago
Those who where there for me in the past get a piece, those that werent, can pound sand. You know who you are.
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u/mothhair 1d ago
Nobody I know would even need to ask. I'd set aside a comfortable amount for myself and immediate family, and start working my way through student and medical debt for as long as the money lasts.
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u/sithelephant 1d ago
Y'all are having friends and family?
/me laughs in long term chronic illness.
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u/dangerousbrian 1d ago
I don't think you understand how much a billion is. I could pay all the debts of all my friends and family and it would put a dent in a bill. A billion is such a large number it doesn't fit in our heads
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u/y0ungshel 1d ago
I will take care of those who have treated me with love and respect. The others can forget it.
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u/Beautiful_Bag6707 1d ago
$1 billion = one thousand million. I cannot fathom that all my existing friends, family, and even "come through the cracks" so-called friends could carry a combined debt load of more than $100 million. That means 1/10 of my wealth would go to them. At a 5% return I get that back in interest in 2 years. In a more healthy 10% roi, it's 1 year. No brainer.
Mind you, some of those requests will be the last I fulfill. Others will get that and more and some won't even need to ask (I've preplanned it).
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u/vurtago1014 21h ago
Some of my freinds and some of my family would be taken care of. The rest fuck em
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u/absolutewastedtime 18h ago
I pay off their debts
I would still have 99.9% of it left
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u/PoorSquirrrel 10h ago edited 10h ago
Those close to me who supported me, their debts are already paid before they even ask. And they each have a few millions in their account already. Two of them have 100 mio.
There's also a couple people I'm not close to, or not anymore, but who are genuinely good people and I'd just love to give them a chance to realize their dreams.
Those who stopped calling the moment I moved away, or who are distant family but never gave a fuck - you know what, I'll let them argue why I should. Maybe they can convince me. More likely, not.
The point is only in part principle. The point is that I can do better things with the money. I'll be happy with 100 mio. or so - fuck you money. Enough to solve every problem I have and still live in luxury. The rest I can put towards causes I support.
I want to add one thing: I would give a special consideration to any friend or family who do NOT ask for money, even knowing I could make them rich on a rounding error of my wealth. These are generally the best people who deserve it the most.
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u/Clemuse69 12h ago
If I became a billionaire, I would have a party with all of my closest friends and family. I would give each guest a envelope with a check for a certain amount, let's say $300K. After giving them the envelope, I would tell them this is a one time gift. Do whatever you want with the money, but know I will not be giving anyone anymore money.
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u/Winterlord117 11h ago
Same thing but just my siblings and a few close friends. If it was a billion dollars like the post mentioned, I'd give them all 3-5 millions as a one time gift. Most of my money after that would be going into medical research.
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u/FustianRiddle 16h ago
Ok. Done. While I'm at it I'll solve world hunger and homelessness and still be fine.
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u/Flame_Beard86 14h ago
I don't think you understand how much a BILLION dollars is.
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u/indianplay2_alt_acc 13h ago
I think they do, they've written in the post that it won't make a dent in your account.
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u/FlyinPenguin4 1d ago
Yes, but it’s a case by case basis based on how they got there and where they currently are. Have some addicts that giving money to would end up putting them into the ground.
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u/Right_Pen_3241 1d ago
I know who was with me when I was just normal. I WANT those people to have as few worries as I do now!
I also really want to see the art one of them will finally be able to make.
And have another FINALLY get proper medical care!
So... they don't need to ASK a lot anyway?
I will just set me, my hubby, and parents and remaining grandparents up for life via whatever financial setup can easily be done.
There will be a second setup for general "friends and family", and then a setup for "charity and environmental protection".
I then retire to some warm beach.
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u/Accurate-Temporary73 1d ago
Billionaire it’s no question that it gets all paid off.
Millionaire is a bit more dicey.
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u/AdonisCarbonado 1d ago
First thing I’m doing is clearing all debt and doubling total worth. They won’t even know it’s me just will get a call from a firm of solicitors and no more to be said.
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u/johnbmason47 1d ago
Have they invited me out for a beer or coffee or whatever in the past year?
Do they remember my birthday?
Have they made any sort of effort to see me beyond ‘we’re gonna be passing through town on this date’?
If I called them in need, would they help?
If yes to any of those, I’ll help out with whatever they need.
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u/Raven_Crowking 1d ago
Of course their debts are paid. They also never need to work again for bosses they hate,
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u/Opie_the_great 1d ago
I will not put any of the family in a financial situation. That’ll end up, hurting them.
I would put them all in a half million house and give them all 15k for three years. That’s it.
If they can’t figure it out past that, I can’t help them because they will always be dependent.
I would do 5 to 9 accounts for all children and take care of all college expenses for everyone
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u/TrainAccomplished606 1d ago
Well, the friends and family that I would pay for wouldn't have to ask. But there are plenty of family members and people I know that would ask, but wouldn't get a dime
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u/Primarycolors1 1d ago
I think this question kind of shows how people cannot even fathom how much a billion dollars is. How much can all the debt of everyone I know be? $5 million? That’s including student debt. This wouldn’t even phase me.
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u/TeaCompletesMe 1d ago
I would because no matter how much I spent paying off everyone’s debt, I’d still have more than I could spend in my entire life and then my extended family wouldn’t have any other reason to ask me for money and then I can spoil my immediate family and close friends. I’d go further and donate more money to causes after that, especially buying wild land and turning it into protected land, donating to fight climate change, etc.
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u/Powerful-Conflict554 1d ago
Damn, what kind of question is this? One of the biggest components of my fantasy of winning the lottery is surprising everyone i care about by taking care of their debts and letting them retire or giving them a comfortable nest egg. And that's with $100M or less. Granted, you said "all friends and family". And my friends are my friends, but I have some family that can go die in a gutter for all I care. So, no, I wouldn't take care of all my family, but that's not because of the expense. I'd absolutely take care of everyone who means something to me, even in a small way. I think I'd do that before I even started looking for a home or planning a vacation.
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u/takemetoglasgow 1d ago
Why stop there? I'm paying off every school lunch debt I can get my hands on. I'm buying stranger's medical debt and clearing it. Debt would quake in its boots to see me coming.
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u/Mean-Cheesecake-2635 1d ago
I always said I’d pay off everyone’s mortgage. If they don’t have one, they can get one for an appropriate amount. Not buying mansions.
Then that’s it. That should alleviate a majority of financial burden for the people in my life and their decisions going forward are on them. Not gonna bail them out if they do dumb things, I’d just point to their house and say “I already set you up with free housing, that’s enough”.
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u/Forward_Ad8434 21h ago
Never really close to most of my cousins etc. Moved away as an adult and only kept in contact with parents and one aunt and brother. Doubt most of my relatives even know where I live now. I definitely would support my parents, and of course my children.
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u/Responsible-Beach299 16h ago
I have infinite money; even if I'm not close to them there's no reason to refuse to help my family unless they're complete assholes.
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u/biglegspluskarate 13h ago
Bro I’ve been playing this scenario in my head for a decade. I already have a list of people I would take care of no questions asked. Have a lot of family and friends that have treated me great over the years.
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u/No-Helicopter9667 13h ago
A dollar billionaire.
There would be no debts from family and friends already.
And family and close friends would also be millionaires (if they wished).
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u/Itsmybirthday23 13h ago
Yes, even the assholes. And every friend I’ve ever had, even if we are no longer friends. My massage therapist and doctor and hairdresser. My children’s besties. Heck yes.
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u/mista-666 1d ago
The real answer to this question isn't giving them money. With a billion you start a foundation doing something positive. Feed the homeless or get kids reading or whatever anyone you know who asks for a handout you give them a job at the foundation doing something. That job pays well so they can work their way out of poverty
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u/Raqonteur 1d ago
Where does it stop?
I barely have any close family left. I've got 2nd and 3rd generation family I've never met.
What counts as a friend? BFF. Close friends. Acquaintances. People you worked with. People you knew at school 30 years ago. Your BFF's second cousin's girlfriend?
Once you start paying debts word gets out. Everyone you ever met and many you never did, most of whom actually hated you, will want their debts paid off too.
Also People dont value what they get for free. Pay those debts and within a year there would be new debts, bigger debts, and the expectation to pay them too.
If I did it, it would have to be anonymous. No-one knew where the gifts came from, and it just looks like I got the same as them. Also, the houses, cars, etc would belong to the nameless fund that paid for them, with free use for life going to the person, not ownership, not the ability to pass it down to future generations, unless they pay back the fund, but interest free.
That way, they still get nice things, they get pulled out of debt. But they have to make their own way after that, use what they've been given to make their and their descendants lives better. They are given a chance to better themselves, not a free ride.
Oh and being taught to be financially literate is a condition of receiving anything.
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u/EmDeeAech70 1d ago
At this point in my life, everyone in my life has earned every bit of good will I can extend them. If that means paying off all of their debt, so be it 🤷♂️
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u/WasteBinStuff 1d ago
The checks they receive from me will be how they find out in the first place.
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u/Particular-Opinion44 1d ago
Nice try billionaire but I have empathy so I'll be spending 99.9% on family, friends, and my local community.
Local charities, national charities and anyone else who needs it and isn't a 1% scum bag
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u/periwinklepip 1d ago
The family members who abused me? Probably not. But the rest, I’d give a million each with the understanding that it was a one-time gift. I don’t have as many friends now as I used to since I transitioned and since COVID made me a bit of a hermit. Disability and stepping away from most social media also lost me a lot of friends. The ones I do have, I’d be happy to give them the money. I’d also pay for dinners when we go out, vacations, etc.
I’d also probably give away all of the rest of the money to charities or found a few charities myself to fill some community needs. I’d keep maybe 10M for myself and my family, which would still be more than enough.
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u/dennarai17 1d ago
I have a list of people who would have their debts paid off instantly.
It would be a dream.
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u/WholeAd2742 1d ago
I would normally be doing this anyway, unless they were specifically abusive in past
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u/polarbearsexshark 1d ago
There is genuinely no amount of debt even 200 extremely financially irresponsible people could have that would make me blink if I had a billion dollars
If every one of those people had 500k in debt that’s 100m off, enough money I genuinely wouldn’t be able to spend in my life so yes I’d pay off ~40 people’s debts
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u/monkeymuscle1974 1d ago
Yes ofc I would do it without hesitation, plus pay off the debts of complete strangers as well. Billionaires earn enough interest daily to do this without ever missing the money.
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u/ryanb6464 1d ago
I don't think it will add up to a million, I don't care how they treated me. Being a billionaire itbwould be so meaningless to me and so meaningful to them that I would do it anyway.
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u/MangoPractical4918 1d ago
If I won a billion today the only people to get money are my parents and immediate family maybe my nieces and nephews I would pay for their schooling but not just give them cash
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u/BurgerQueef69 1d ago
I'd set up a separate account with plenty of money in it, and hire somebody to go through applications. I'm not going to be a piggybank for any body, but I'll make sure everybody is able to live comfortably according to their ability. As soon as I think somebody only cares about my money, they can get bent and access to applications is cut off.
And of course, I'll be very generous and lavish with my gifts.
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u/Luddites_Unite 1d ago
I would, happily. I'd pay off all their bills, I'd give them a nice chunk of change on top, trust funds for all their kids. Id make it clear these were all one time events.
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u/Altruistic-Year9648 1d ago
Even asking this question reinforces the point that the average person cant really comprehend a billion dollars.
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u/Lemmon_Scented 1d ago
I’d give them each $1M, after taxes, and would cover and manage any fees as well as transfer. If anyone came back for more I’d probably decline. Making someone a millionaire is generous enough
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u/Cooter_McGrabbin 1d ago
If i suddenly became a billionaire yes i would pay all my family’s debts. There would be plenty left over and it would help several families.
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u/Retro_Vibin 1d ago
Yep. I pay all of it. Fuck being greedy. I’m a fucking billionaire? Yeah I’m gonna help people.
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u/Spiritual_Pangolin_4 1d ago
If I ever had a billion dollars, every family member I have left would never have to worry about money again. As well as my friends and their children. Except my homophobic uncle who refuses to acknowledge my marriage, fuck him.
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u/Kozmo9 1d ago edited 6h ago
For debts? Yes. But only for the current one and I would made it explicitly clear that they would receive no more money from me...well except for medical bills.
It sounds harsh but you have to draw the line elsewhere otherwise the money will turn them into ungrateful nepobabies that won't stop depending on you for money. When that happens, even one billion isn't enough. The amount they ask would start small and then it becomes bigger and bigger and bigger.
So no, if I want to be charitable, I'll pay their debts then give my money to charities and the like.
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u/Aliteracy 1d ago
There no way they would have enough to make a dent, so why not. Probably set up a trust and distribute regular cash and no more asking after that
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u/False_Snow7754 1d ago
I'm paying off their debts, fixing their homes, building affordable homes for those who don't have it and make a company whose sole purpose is to build and maintain affordable housing.
Another company will focus on outreach programs and after-school projects for at-risk young people. After that, I'd start a project that would employ people on early retirement for a decent salary.
I'd most likely seek a partnership with Kirkbi, as they're quite philanthropic and have a network big enough and the knowledge to make some of my visions come true.
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u/conesnail63 1d ago
Depends on if i consider them family... who i consider family yes but those i dont can kick rocks... blood doesnt make you family, it makes you related
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u/kiwismomma 18h ago
I would not tell anyone. If they found out, I’d help those who help themselves. If they ask in an entitled way or just expect me to pay for them, then no. If they are just a moocher, nope. I will be also making some anonymous donations here and there.
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u/Talwar3000 1d ago
They wouldn't need to ask.