A San Francisco-based tech CEO has triggered a chatter on social media after he revealed he declined his wife’s request for a vacation despite having nearly $10 million in retirement savings. Kevin Xu, the CEO of Alpha AI and a Stanford graduate, posted a screenshot on X, showing the stark divide between his long-term savings and liquid cash.
While his 401(k) retirement account sits at a staggering $9.8 million, his checking and savings accounts contain just $3,000 and $296, respectively. In a humorous post, Xu shared a mock conversation with his wife, saying, “Her: Let’s go on vacation. Me: I’m broke.”
Cash-Poor, Wealth-Rich Reality
He added that many don’t grasp the complexities of wealth tied up in retirement accounts versus having spendable cash. “Few understand this struggle,” he wrote, highlighting the difficulty of feeling cash-poor while technically being a multimillionaire.
According to his X bio, Xu has a total net worth of $10.9 million. Still, the viral post sparked a wave of online reactions, with some criticising his financial planning.
Social Media Reacts to Unusual Spending Logic
With over 17 million views, the post sparked a wave of reactions. “Buy yourself a vacation that includes one of those timeshare presentations and it’ll be like 20% of the normal price,” a user said. “you’re not managing your money and life correctly if you have a $10M net worth and are telling your wife you can’t go on vacation,” another user commented.
“Sounds like your already broke spiritually & mentally. Imagine being 8 figures and not enjoying a holiday with your wife,” a third user reacted. “If real I feel sorry for your wife. Can’t imagine elevating net worth above life experience,” a fourth user commented.
The debate continues online as social media users weigh the difference between net worth and liquid cash, and the balance between financial prudence and life experiences.