Something to note, while in the US the FDIC coverage is $250k, that is a temporary limit to help stabilize banking and reassure depositors. Also, for whatever portion you decide to keep in a bank, have the banker talk to you about titling. An account for John Smith is covered up to $250k, but an account for John and Jane Smith is covered up to $500k, and a trust for John and Jane Smith with 3 children is even more.
What I would do is put $1 million away and use the remaining $1 million to buy 11 more $90,000 businesses.
What I would do is put $1 million away and use the remaining $1 million to buy 11 more $90,000 businesses.