Not if the vast majority of that is already debt you can’t back up. But I’m really just complaining about semantics. Seems wrong to call someone a trillionaire that couldn’t actually put a trillion dollars on a poker table.
even if you if you ignore stocks… i own a home that is appraised by the city and taxed at $300k (i’m not talking about an inflated valuation by a real estate agent here), but i only have $5k in liquid cash to bring to the casino floor… you’re telling me that my net worth as a person is only $5k? if i were to apply for a business loan, the bank should assess my net worth as $5k?
What’s the debt on the house? 0$? If it is actually salable for $300k, then net worth would be $305k. Owe $200k on it? $105k net worth. That’s what I meant by “sold every single thing he owns today, and then paid his debts”. Actual tangible assets.
Not if the vast majority of that is already debt you can’t back up. But I’m really just complaining about semantics. Seems wrong to call someone a trillionaire that couldn’t actually put a trillion dollars on a poker table.
Thats not how net worth works… even for normal people, money on a poker table is an idiotic measure of net worth…
Is it? Basing it off imaginary stock market numbers sounds idiotic to me. And that is a hill I will die on.
even if you if you ignore stocks… i own a home that is appraised by the city and taxed at $300k (i’m not talking about an inflated valuation by a real estate agent here), but i only have $5k in liquid cash to bring to the casino floor… you’re telling me that my net worth as a person is only $5k? if i were to apply for a business loan, the bank should assess my net worth as $5k?
i’m really glad the real world doesn’t work that…
What’s the debt on the house? 0$? If it is actually salable for $300k, then net worth would be $305k. Owe $200k on it? $105k net worth. That’s what I meant by “sold every single thing he owns today, and then paid his debts”. Actual tangible assets.