People who earn high incomes like Michael Jordan Oprah CEOs singers entertainers let's say over a million a year where do they keep their money in banks?

Answer 1

There's no simple answer to this. For many, their Accountants / advisers will handle their financial affairs and so the high earner will not even know the detail. It may even go to the extent that the individual may have debit / credit cards that they use to pay for things / withdraw cash and the accountants just make sure that the bills are paid / there's enough money in the accounts. In any event, whoever manages it, if the individual has a lot of money (as opposed to other investments), the bulk of it will be on deposit in one form or another, maybe spread across many institutions and hopefully getting good rates of interest. Having said that, almost certainly there are some whose affairs are not well managed and they may just have a pile of money sitting in a non-interest (or low interest) bearing account with xyz bank.