Where do Millionaires and Billionaires keep their money?

Well if its FDIC the moeny is supposed to be protected so they will get it back.

I would go with Henry - but he can't spell! No - millionaires send their money to offshore banks, and Switzerland. Most invest their billions with Stocks and Bonds. That's Blue chip stuff. They only keep a few 100,000 around for small change. By the way, all deposits up to 100,000 and 200,000 (for couples) are guaranteed by the US Federal Bank. Every ones's money in Bank Accounts and Certificates of Deposit is protected. You could go to 20 banks and deposit 100,000 in each savings account and be protected, and have 10 accounts at each bank, they would be protected.

They keep their money in Swiss bank accounts. The Swiss banks are the safest in the world. They are also the richest banks in the world so no fear of them failing.

Swiss banks

i just saw a documentary about this, they keep there money in a overseas bank, the stronger that countries money and economy the more likely they are to do their banking there. also they dont have to pay tax on it. one of ppl thats really guilty of this is the guy that owns the westfield shopping centers, its all over the internet read about it.

They spread out their money into different banks and accounts because banks only insure up to certain amounts

Swiss banks.

Swiss banks silly. they the best!

most of these people dont actually have the money, its all in the stock market, so if the stocks plunge then so do their fourtunes.

No, not necessarily. They back-up all of their data in case that were to happen.