Difference Between your Networth & Your Affordability: Why Elon Musk May Be Worth 218 Billion USD but Can't afford to buy Twitter for $43 Billion in Cash

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And why Kanye Was Worth 2 Billion USD but fell to 400 million USD overnight without losing one dollar in reality:

Let's assume you have $20 in your wallet/bank, own property worth $100 & $200 shares in a company. Your Networth is $320 minus your liabilities. But your affordability is not $320. Your affordability is usually below 20% of your Networth.

Now when you hit a certain amount, in a functional financial system, you should have financial advisors and asset managers.

We have ours and they control our portfolios. They know how much cash we need on month to month basis and will NEVER give us more than we need monthly. I needed cash badly sometime last year, I spoke to our asset managers and applied to withdraw a certain amount from our portfolio. They produced policies we signed which limited how much cash we can access.

If you have a good financial planner, you shouldn't have more than 20% of your Networth in the bank. Actually, most prudent people allocate between 5% to 10% of their portfolio to cash.

This financial planning is the major difference between AFRICAN rich boys on Instagram and western rich kids whose wealth have survived several generations.

The major measure of your wealth is how much of it is transferable to your next generation, not how much of it that is spent on your desires and lusts.

Now let's talk about Elon Musk and Kanye West...

Elon Musk is going to be CASH broke for the next 3 years. The reason is that he has already sold a lot of his Tesla shares and has gone above what he should liquidate for the year. So you don't expect him to keep selling his own shares in his company - that's like casting a vote of no confidence on his own organisation - imagine the Dev wallet of Transhuman Coin selling our bag! What do you think the community will do? Panic and sell too? Yes. That's why founders do not sell shares easily. So when you see Elon Musk selling his Perfume, don't think it's because he loves perfumes. No. It's a side hustle. But some of you are too arrogant to have side hustles. Yet the richest man in the world has side hustles. Because he understands the difference between networth and affordability.

And now about Kanye West...

Some people are crying more than the bereaved... Kanye has not lost ONE DOLLAR so far.... What he has lost is the figures attached to his name - the net-worth.

You need to understand that no billionaire has ever had billions in cash. That would mean liquidating investments and keeping your money in Cash. A foolish decision no wealthy person can make.

So if you think that Kanye's livelihood will be affected by a drop in his networth, you are not well informed about the concept of networth calculations. What will affect Kanye West would be a crash in the stock market - this will affect everyone of us too. That's the real fear of rich people. However, such crash also present new opportunities for the emergence of new wealth.

Slowly, as you understand the difference between networth and true worth, you will place more value on yourself because some of you are Billionaires by asset but because you don't even know how to calculate your networth, you carry yourself like a poor person and miss banking opportunities available to people of your networth.

My name is Charles Awuzie and I am a student of wealth.

Credit: Charles Awuzie




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