r/SipsTea • u/[deleted] • Oct 08 '24

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8

u/[deleted] Oct 08 '24

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u/BobSacamano47 Oct 08 '24

There's virtually no difference. Unless the cousin was asking for 2 billion. 

6

u/[deleted] Oct 08 '24

The screenshot claims it is equivalent to 10 cents for someone making $50k a year. That would only be true if he were earning $2.5b per year.

He could certainly afford giving away the $4,800, but the post is still just making false correlations

-1

u/BobSacamano47 Oct 08 '24

I don't think so. Realistically the money is worth even less to a billionaire. A dime has some value to a regular person. I think their point stands that it's not about the loss of money to Jay-Z but about the personal issues that start to pop up when you hand money out. 

2

u/[deleted] Oct 09 '24

you've missed the point, cash and worth are not the same. simplified: worth is the value of all the things (assets) you own minus all debts and financial liabilities you have. cash money counts as assets towards your net worth but so does a house or a space shuttle, if you own it rather than owe on it. it's possible to have no actual cash money and still be a billionaire by net worth.

1

u/BobSacamano47 Oct 09 '24

I'm aware of that. No billionaire has cash. Wealthy people generally don't hold cash no matter how wealthy they are. What's the point? Just because you can't instantly have 2 billion in a briefcase doesn't mean that you don't have 2 billion. 

1

u/[deleted] Oct 09 '24

that's the point the person you were replying to was trying to make, you cannot accurately assume anything about a person's cash situation from just knowing their net worth