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Topic	Bezos set to no longer be longer richest person in the world
konokonohamaru 10/25/19 12:53:35 PM #28:	Webmaster4531 posted... konokonohamaru posted... MacadamianNut3 posted... pls posted... They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market. Thanks for pointing out the obvious and for your service you'd be surprised how many people don't understand that though... What does that matter though? Eh. For guys like Gates and Bezos it probably doesn't matter. But sometimes people think small business owners who have a high net worth due to their business are swimming in cash. But all that net worth is locked away in the business and not necessarily accessible, and can disappear quickly if the economy tanks. Part of the issue is that the value of your labor isn't factored into your net worth, but for someone whose main job is to own a business, it is. So it makes the business owner look richer than someone who's just a worker, even though the worker actually has higher net wealth. For example, an engineer who just started working for a company with a salary of $100k should be considered wealthier than someone who owns a small business and is bringing in $50k profit a year, but when we do net worth calculations the value of the business is counted but hte value of your skills as an engineer isn't --- A very happy young man looking forward to a bright and wonderful future. <cite>konokonohamaru posted [p:929225630] in Bezos set ... [t:78110323]...</cite> <quote>Webmaster4531 posted...</cite> <quote>konokonohamaru posted...</cite> <quote>MacadamianNut3 posted...</cite> <quote>pls posted... </cite> <quote>They are not actually swimming in billion dollar bills. Their entire wealth is defined by their assets, which are illiquid and subject to the whims of the market.</quote>Thanks for pointing out the obvious and for your service </quote> you'd be surprised how many people don't understand that though...</quote> What does that matter though?</quote> Eh. For guys like Gates and Bezos it probably doesn't matter. But sometimes people think small business owners who have a high net worth due to their business are swimming in cash. But all that net worth is locked away in the business and not necessarily accessible, and can disappear quickly if the economy tanks. Part of the issue is that the value of your labor isn't factored into your net worth, but for someone whose main job is to own a business, it is. So it makes the business owner look richer than someone who's just a worker, even though the worker actually has higher net wealth. For example, an engineer who just started working for a company with a salary of $100k should be considered wealthier than someone who owns a small business and is bringing in $50k profit a year, but when we do net worth calculations the value of the business is counted but hte value of your skills as an engineer isn't --- A very happy young man looking forward to a bright and wonderful future.</quote> ... Copied to Clipboard!
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