Ultra-Wealthy Stockpiling Cash as U.S. Economy Fears Grow

Aug 27, 2020

Ultra-Wealthy Stockpiling Cash as U.S. Economy Fears Grow

Aug 27, 2020

(ETH) – A group of multimillionaire investors in the U.S. are apparently rattled by the current economic climate in America and are reportedly hoarding cash at unprecedented levels.

According to a recent report from Bloomberg, Tiger 21, which is a club made up of more than 800 investors, reported Thursday that its members have raised their cash holdings to 19% of their total assets over concerns of the economic consequences of the pandemic in the U.S. This figure is up from about 12% since the beginning of the pandemic.

Many of these investors expect the crisis to continue to get worst until the end of next June.  “This rise in cash is an extraordinary change — statistically, this is the largest, fastest change in asset allocation Tiger 21 has seen,” said Michael Sonnenfeldt, chairman of the club, whose participants typically have more than $100 million in assets.


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“In trying to build resources prudently, members have gained liquidity and will not immediately reinvest in those areas in order to keep and build cash to weather this storm.”  The pandemic has already produced one of the worst recessions on record in the second quarter of this year, and economists are increasingly warning about a prolonged slowdown if lawmakers fail to provide $1 trillion to $2 trillion in relief funds this fall.

About the Author

End Time Headlines is a ministry founded, owned, and operated by Ricky Scaparo, established in 2010 to equip believers and inform discerning individuals about the “Signs and Seasons” of the times in which we live. Ricky authors original articles and curates news from mainstream sources, carefully selecting topics, verifying information, and utilizing artificial intelligence tools to ensure content is both timely and accurate. Every piece is personally reviewed and edited by Ricky to align with the ministry’s mission of providing a prophetic perspective on current events.

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