In the modern world, and in the world of economics, the single, most common means in order for any person’s wealth to be measured is the net worth. In a nutshell, the net worth of an individual is the total number of assets, subtracted by the number of liabilities. In a much simpler sense, it basically is what you own minus how much you owe others. Celebrity net worth is a fairly hot topic, given the fact that basically just about all parts of life are talked about when it comes to celebrities. Having said that, exactly what comprises their net worths? Is it any different from others? Let’s find out.
Celebrities, have a lot of tangible assets, especially those who are billionaires, and those who could demand high rates for every appearance due to their fame. Part of these tangible assets include properties, whether it be for home and/or business, vehicles, jewelry. While home and vehicles for people usually include just one house, and probably a car, what sets a lot of celebrities apart from us is that they usually own multiple of these, with the gross price of these assets costing several million dollars, and in certain instances, even billions.
Given that they relatively have a lot of money to begin with, it’s actually quite normal for celebrities to have liabilities. Having said that, these liabilities of theirs include debts and needed loans for additional investments, as well as contracts for appearances that have already been paid but have not yet been fulfilled due to the presence of other obligations. This is due to the principle that money which has already been paid for a service that has no yet been fulfilled is basically classified as a liability, which is fairly commonplace among celebrities, especially those who are highly sought-after.