> Nobody clever enough to earn that kind of money keeps 98% of it in an illiquid private investment.

It’s interesting how often people say stuff like this. I don’t mean to presume anything about your knowledge of the habits of the ultra-wealthy— but how do you know this?

Mark Cuban, for instance, claims he would need to liquidate assets, including potentially his basketball team [1]. I agree it might not cause a crash, but certain billionaire-dominated industries, such as sports teams, might become increasingly foreign-owned.

[1] https://youtu.be/rCd2vWsWWrI start watching at 4:50