Net worth can, and is, used as collateral for taking out large loans with little to no interest. So I would say net worth is a pretty good equivalent of cash under the mattress. It just takes one step to access that cash.
Loans have to be repaid and I’m not talking about liquidity. If you have a billion $ in cash and use it to fund a billion $ research vessel, you have a billion $ research vessel. You’re still a billionaire. Gaben owns large portion of Valve, a multi billion $ company. The only way for him to no longer be a billionaire is to either
Sell his stake in Valve and burn, give away or otherwise loose all the money.
Devalue Valve to the point that it’s no longer worth billions of $.
Net worth can, and is, used as collateral for taking out large loans with little to no interest. So I would say net worth is a pretty good equivalent of cash under the mattress. It just takes one step to access that cash.
Loans have to be repaid and I’m not talking about liquidity. If you have a billion $ in cash and use it to fund a billion $ research vessel, you have a billion $ research vessel. You’re still a billionaire. Gaben owns large portion of Valve, a multi billion $ company. The only way for him to no longer be a billionaire is to either