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How do rich actors or rappers store their millions in banks when the minimum coverage is $100,000?

My question is what kind of accounts do rich rappers or rich actors/actresses store their money in if the FDIC only covers $100,000 for checking and $300,000 i believe for a savings account?They have millions of dollars such as actors like Tom Cruise or Angelina Jolie or Brad Pitt,but where do they keep their millions?In a savings account at Chase or Bank Of America?

FDIC coverage is currently $250,000.

http://www.fdic.gov/deposit/deposits/changes.html

The short answer is they don’t have their all money in one or a few banks.

There are ways to protect your money from default and other risk and to learn this is by calling a professional like the one who is answering this question.

I have managed money for many wealthy people and corporations and among other things, I have previously worked at a top Wall Street firm. I know a number of celebs who were or are clients and who was managing whose money and how it is done. It is sophisticated.

Carnival Dream Ocean Suite 7368

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