WHO'S ACTUALLY THE RICHEST ?

   Photo Courtesy: Author 

      B16_  This blog post discusses about who or what decides the richest people in the world , it also discusses how there networth is calculated and finally as the title says, Who is ACTUALLY the richest .

1. WHO DECIDES WHO'S THE RICHEST? 

     It's the business magazines ,digital and print media , the corporate world that decide who are the richest people and what are they worth.

    Photo Courtesy: Josef Cruz-Medium

Magazines like Forbes , Bloomberg keep updating people about this. 

First of all, to get recognized ,you need to disclose your source of income. For example a drug dealer wouldn't let anybody know his value , he /she might be the richest in a particular place , but unrecognized. 

   There are rumours that Russian President Vladimir Putin is the wealthiest in the world with an estimated net worth of about $270B , but he doesn't make it in the list of the richest. He didn't choose the Thug life , the thug life chose him 

    Photo Courtesy: Foreign Policy 

Anyways keeping aside drug dealers and   Putin , we focus on The legit multibillionaires __ Elon Musk , Bill Gates , Jeff Bezos and Warren Buffet (me also)

2. HOW IS THEIR WEALTH CALCULATED ?

    I mentioned earlier also,  in my blog post about stock , how does this happen . 

But still I'll tell yall again _

Their networth is calculated based on their assets and liabilities. Assets are the shares,  property,  currency and other accessories, like Gold and cars , that they own.  Liabilities are the loans , debt and taxes

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Value of × (Assets - Liabilities) = Networth 🤑

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Commonly , it's the shares and property that constitutes for the majority of their wealth. If you wanna know really really more about stocks an share market read my blog : Stocks

It has a lot .... actually enormous amount of knowledge.

3. WHO'S ACTUALLY THE WORLD'S RICHEST?

    Photo Courtesy: Theverge.com

    Photo Courtesy: Observer

     No, it's not what you think . It's NOT Elon or Jeff , but HIS NAME IS JOOOOOHHHNN CEEEEENAAAAAAH

Nah. 

It's none other than William Henry Gates II , commonly known as Bill. There are more than one reason for this. 

    Photos Courtesy: Business Insider

He sold 99% of the Microsoft shares that he owned and has now only 1% ownership of the company , still he's the third richest currently. Moreover,  He's a philanthrophist who donates 20% of his current income into charity _ The Bill & Melinda Gates Foundation. Now , imagine had he not done all of this and just kept his money like Jeff , where he would have been.  

There's one more concept for Bill Gates being the richest followed by Warren Buffet. 

LIQUIDITY

It means to liquify the profit from the share market and enjoy the cold hard cash. The majority of fortune of Elon musk comes from Tesla shares and Jeff Bezos' from Amazon shares , they can't easily liquify there money as it's depended heavily on one stock . If they take out there money it drastically affects the market and their company.  

But, this is not the case with Bill Gates and Warren Buffet,  they own a wide variety of stocks , and can therefore liquify wealth anytime they want , hassle free.  It was profitable for Bill to earn an acquaintance with the stock market genius Warren Buffet,  who taught him the concept of LIQUIDITY early in his career and also advised him "not to keep all your eggs in one basket".

    Photo Courtesy: Business Insider 

So, choose wisely who you roll with. 

    

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