if a persons net worth is 340 million how much money could that person really have...?

Question

i just want to know if someone could help me out i never really understood...sorry for not being a genius

Answer 1

Net worth is everything a person has after deducting for debt. That person could have $340,000,000 in cash in the bank; or, that person could own businesses, cars, motorcycles, boats, whatever and have only $10.00 cash in his pocket.
You take all assets (cash, stocks, bonds, real estate, cars, etc.) and subtract what is owed (mortgages, car payments, credit card bills, etc.) What is left is the "net assets".
It is a business term; lots of terms are confusing. I don't know much about music or art, for instance.

Answer 2

Net worth is the value of all of a persons assets minus debt. How much money you could end up with depends on how liquid and risky those assets are. If its cash, CDs and money markets in the bank (hypothetically) then you have 340 million dollars. If its securities like stocks and bonds and mutual funds there are probably going to be some commissions and fees associated with it to withdraw. And the value is going to vary from day to day. If its property like real estate then there are going to be fees associated with selling it, and the sales price may vary from the market value, either up or down.

Answer 3

Net worth is all the assets that the person has. Whether its stocks, bonds, houses, hotels, bank accounts, or anything else they have invested in. A persons net worth could be 340 million, but in the bank they may only have 2 million in cash at their disposal.

Answer 4

If their net worth is 340 million, they really have 340 million.

Answer 5

Basically if he sold every thing right now, he would have $340 million.

His $340 million might be tied up in assets suchs as real estate, art, cars or businesses.

He might just be carrying $1.00 in his pocket.