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I honestly think your underestimating the amount of wealth stored in private companies, real-estate, art and other il-liquid assets


Dividends? Rental income? People own these things for a reason and it's not necessarily just raw capital appreciation.


My point is that many entrepreneurs have the majority of their wealth tied up in their business, and many people that may be worth 30m might have 10m of that in personal real estate - all of which is hard to value precisely without trying to sell it.




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