I would normally be cautious about accepting money like that but from what you've explained about the chap he seems genuine enough and if he really earns 4k a day then it's not a big deal for him, I'd like to say that I would do the same in his position, in these particular circumstances I would probably accept.
If it was me I'd accept the 10k & work it, Then I'd pay him back a grand a time when things starting moving/working/developing.
I wouldn't take the 10k to spend on crap but I would take the 10k to work it.
If you show him how much you've enjoyed spending his money and he might give you more
'Your car looks really nice *sigh*Wish I could afford one "
Cash it & put it in a high interest savings account while you work out what to do with it. Worst case scanario is your local charity gets a bit more than 10k
Assuming this is real, I'd seriously invest that best you can and thank him for it - you really won't regret it in 20-30 years time or whatever when your retiring and have a bit of money to make your life comfortable in retirement. I do know how hard it is to accept a gift like that but in this day and age and economy you'd be silly not to.
Give it a day, say thank you again and is he sure? Say thank you and you won't forget his kind generosity and cash it. Book a holiday and let him know you're going away. Buy him a nice souvenir, something the kids can choose.
My vote goes for cashing it in too. Look at it from his point of view, he's more money than he knows what to do with and wants to put a smile on his friends face. Do something nice with it and then show him. It will make him happy.
I'd probably go with some of the previous posters - go on holiday or something and send him some pics so he can see how you've used the money. Maybe keep some as well for a rainy day or something - you'd feel a bit silly if in 2 years you're unemployed and need some cash to cover bills before you find a new job and can only think to yourself 'hmmm, if only I had a few grand to tide me over'. But having attempted to refuse the cheque, and not asked for it or anything, I think I would cash the cheque - it was his decision to give it to you, and he'll probably feel good because he's helped you out.
I'd cash the cheque. If I was financially comfortable I'd invest it, if I wasn't then I'd use it to stabilise myself.
Your friend has given you the money because he wants you to have it. Not because he wants you to give it to charity - he could have done that himself if that's what he'd wanted. It's a gift, so treat it as one. It just happens to be a higher value gift than most people are used to receiving.
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