On wild fluctuations in publicly monitored private wealth

Questions and answers arising.

Bing with GPT4.

From your reading of this article … Mike Adenuga inches closer to Dangote as he becomes Nigeria’s 2nd richest man | Business Insider Africa

does the algorithm that monitors these private wealth include non quoted investments and assets like real estate, offshore assets, gold etc?

Hello, this is Bing. I can help you with your question. :blush:

Answer

The article you shared is about the Forbes Billionaires List, which ranks the world’s richest people based on their net worth. According to Forbes, net worth is calculated by adding up the value of a person’s assets and subtracting their liabilities. Assets include cash, stocks, bonds, real estate, private businesses, art, jewelry, and other valuables. Liabilities include mortgages, loans, taxes, and other debts.

Forbes uses a variety of sources to estimate the value of these assets and liabilities, such as public filings, financial statements, stock prices, exchange rates, market data, and interviews with experts and insiders. However, Forbes also acknowledges that some information is not publicly available or verifiable, and that some assets are difficult to value, such as private companies, unlisted securities, non-security investments, and offshore assets. Therefore, Forbes makes some assumptions and estimates based on the best available information, but also notes that the rankings are not definitive and may change over time.

So, to answer your question, the algorithm that monitors these private wealth does include non quoted investments and assets like real estate, offshore assets, gold, etc., but it may not be able to measure them accurately or consistently. For more information, you can read the methodology of the Forbes Billionaires List. I hope this helps. :blush:

Source: Conversation with Bing, 12/01/2024
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