Why some Millionaires look and act BROKE 🔥 #shorts

Net worth is the total value of a person's assets, including cash, investments, and property, minus any liabilities. It is calculated by adding up all of a person's assets and then subtracting all of their debts. Being rich refers to having a high income or a high level of wealth, but it does not necessarily refer to net worth.
A person with high net worth may have no cash because they have invested their money in assets such as real estate, stocks, and bonds. These assets may have appreciated in value, but they are not liquid, meaning they cannot easily be converted into cash. Additionally, some high net worth individuals may have significant liabilities such as mortgages, business loans and other debts that can offset the value of their assets.

Millionaires can appear broke because they may have a high net worth, but they may also have a high amount of debt or expenses. For example, a millionaire who has invested heavily in real estate may have a high net worth but also have a high mortgage debt and property expenses. They may also have high taxes, and high living expenses, such as private schooling, travel, and other luxury expenses. Additionally, they may be investing heavily in new business ventures, which can result in a temporary cash flow shortage. All these factors can make it appear that the millionaire is broke, despite having significant wealth.

Disclaimer:
The content of this video is for informational and entertainment purposes only and should not be considered as financial or investment advice. Any financial decisions you make should be based on your own research and consultation with a licensed financial professional. The creators of this video and its contents will not be held liable for any financial losses incurred as a result of following the information provided in this video. Always conduct your own due diligence and seek professional advice before making any financial decisions.