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What are celebrities really worth?

I enjoyed a recent article in the New York Times having a go at most of the figures that one reads on the Internet as to what celebrities are worth.  Most of these figures come from a website www.celebritynetwork.com and what is quite interesting is that the company has no computer scientists or data specialists on its staff, so nobody has any idea as to how they get those figures.  They recently listed the Cosby Show actor, Jeoffrey Owens, as being worth $500,000 until it was discovered he was working as a packer at Walmart at which time they revised his figures downwards. 

Apparently, most of these figures are vastly inflated and nobody complains about it, because publicists prefer it if you believe that their clients are rich.  All the websites seem to get their figures from the same Celebrity Network Website and even Google, for example, if it refers to Lindsay Lohan, saying that she is worth $500,000, gets their information from Celebrity Network.  Many people will recall that Donald Trump used to have arguments as to what he was worth and apparently often tried to game Fortune 400 List by inflating reports of his wealth so that he could obtain a higher position.  In many respects, this is fairly simple to do – you buy a golf course, most golf courses are actually struggling and then you value the golf course at an amount that you cannot sell it.  I had my own experience of that with my house in Blair Atholl, Lanseria.  A few people who have left the estate seem to have left it on a basis of being virtually bankrupt and have had their houses auctioned and yet, when you were around them they all made out that they were multi-millionaires and extremely rich.  The reality is that the vast majority of them undoubtedly have mortgages on their houses that are bigger than what their houses are now worth, given the shocking state of that particular property where more than 120 houses are on the market, but only one or two are sold a year.  In other words, you cannot say somebody is worth R25 million because their house is on the market for R25 million.  It is probably worth R16 million and it might very well be that they have a mortgage bond of R20 million which actually means a deficit of a negative R4 million in terms of the house as an “asset”.  The vast majority of people are driving cars that are financed on credit, so it is very easy to fake money and it seems that when it comes to celebrities this is equally true!  We only have to think of our own athlete and murderer, Oscar Pistorius, who used to drive a McLaren car which ultimately turned out not to be his as well as boast about a property he owned in Italy which was also not his and which was just lent to him for him to stay in. 

Posted by Michael de Broglio on Tuesday 04-Dec-18 Share on Facebook   Tweet It

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Comments

Sarah  said:
on Wednesday 23-Jan-19 03:51 PM
I guess being famous and a celebrity it is all about the image , so you sell the image and people buy it. so you can get the roles in the movies etc. You know that saying fake it , till you make it.

Helen  said:
on Monday 21-Jan-19 07:30 AM
For some people the image is everything, even if it is the fake image! I also heard some time on the news that some celebrities can not even afford driving the cars they drive or even the houses they stay!
That's is how the fake stats come around too on the media.

Sinead  said:
on Monday 14-Jan-19 12:15 PM
I don't really care much for celebs' net worth nor do I really follow their lives.
It is interesting to see how they exaggerate their worth and to an extent I feel like most people these days do that. Celeb or not.
We pretend to have money we don't, spend it on things we don't need, for people we don't even know or like.

Cornelie  said:
on Friday 11-Jan-19 11:30 AM
It is scary to think there is people out there who are worth so much if they are telling the truth but also what would you do with all that money.

Daniella  said:
on Thursday 10-Jan-19 10:38 AM
Its sad how the financial worth of a person is so important. We should rather be interested in the ethics and morals of a person.

Ashleigh  said:
on Thursday 10-Jan-19 09:02 AM
I would never want to be a celebrity. The celebrity being valued, constantly having people harass you. Why cant acting be seen as a job and the actor be left to live their own lives. I suppose it has definitely got something to do with their pay cheque and that's what is more attractive to society.

Thabitha  said:
on Thursday 13-Dec-18 04:59 PM
Most of them dies at zero status so that means they wealth nothing is just to entertain clients.

Nikita  said:
on Thursday 13-Dec-18 09:01 AM
It is so important to never live beyond your means. It always amazes me when you go into townhouse complexes and see 1.5 million Rand cars parked outside a 50sqm bachelor pad that is most likely being rented. For some people status is everything.

Michelle D  said:
on Thursday 13-Dec-18 08:53 AM
Peoples' obsession with celebrities will never cease to amaze. Celebrities generally get rich quickly, depending on whether people find them appealing or not, which may cause them to buy assets and involve themselves in potentially detrimental investments. Then when the hype around them dies out they are stuck with all of these assets and investments that no one wants/can afford to buy.

Bianca  said:
on Thursday 13-Dec-18 07:43 AM
I don't think I know anyone that will talk and brag about what they are worth. I feel sorry for the celebrities that must live with that lie every day.

Natasha  said:
on Wednesday 12-Dec-18 08:48 AM
I dont think you can put a value on anyone yes they are celebrities but still they are just human, its not like they are a car or a house.

Mathilda Du Preez  said:
on Tuesday 11-Dec-18 02:12 PM
I think there are so many people living these lavish lives and we are looking in from the outside thinking that person must be really rich, but meanwhile back at the ranch they are drowning in debt just to impress people.
No thank you, ill rather live by what I can afford and not owe anyone anything.

Jessica A   said:
on Tuesday 11-Dec-18 02:09 PM
How can a company like Google take at face value, the information from www.celebritynetwork.com? 'Your connection with the Stars', quite a poor website if I do say so... Of course, the celebrities want their adoring fans to think that they are worth so much more, their 'likability', directly correlates with their net worth. Kylie Jenner being a prime example...

patrick  said:
on Tuesday 11-Dec-18 08:25 AM
Being a celebrity is quite a painful thing and it needs cool heads. I see a lot of Actors/Actresses which used to dominate the 80 when we grew up are worth nothing. Some don't even have a roof over head.

Joyce  said:
on Monday 10-Dec-18 04:55 PM
I think it is not nice to live a lie life, also think that how one lives their life it is a personal affair

Tamaryn  said:
on Monday 10-Dec-18 04:53 PM
I was under the impression that most celebrities are heavily in debt anyway. You forever hear how so-and-so is being sued or has declared bankruptcy or cant manage their funds and is now convicted of tax fraud. Any person's monetary worth is only ever assets minus all liabilities, not just the value of the assets.

prishani  said:
on Monday 10-Dec-18 04:46 PM
I don't know why anybody would want their personal finances to be published around the world especially when they are so inaccurate!

Jadine Esterhuizen  said:
on Monday 10-Dec-18 04:45 PM
You can never ever put an exact or any monetary value on someone, but it is quite interesting to watch what Forbes and other major magazines prize our favorite celebs at.

Victoria  said:
on Monday 10-Dec-18 04:37 PM
That is so true, people value other people on their assets. Which is completely wrong like you said people finance a car and have a mortgage bond, which means the car isn't theirs and nor is their house.

Angelique Jurgens  said:
on Monday 10-Dec-18 12:22 PM
It should be like when you log onto your internet banking - assets and liabilities and then you can see what your worth is. Not the property you have mortgaged or the vehicle you have financed - because ultimately you still have to pay that off and if you die tomorrow and haven't paid it off, well it may just go back to the bank! It's all due to us as humans, we spend money we don't have to impress people we don't like!

courtney  said:
on Monday 10-Dec-18 11:21 AM
No person can get "valued". No money can ever summarized how much one is worth.

Liz  said:
on Monday 10-Dec-18 10:38 AM
It is interesting to see that some people might not be worth as much as reported. I do, however, think they earn a lot more than the majority of the population and it is sometimes scandalous and fascinating at the same time to see what they spend their money(or the bank's money) on.

Alexis  said:
on Monday 10-Dec-18 10:29 AM
It is so sad at what matters to the society we live in these days....and it is absolutely ridiculous at the fact that people put such a high value on people who mean what to the world precisely. However, we are all human and we are all just trying to get by in life...some make ot big, whereas others do not

Jadine Richards  said:
on Monday 10-Dec-18 10:21 AM
Having a look at what some of these celebrities are apparently worth is really shocking. Its really interesting what our society really values these days. Even if the values are inaccurate to think that one worth person could acquire so much is disturbing.

Michelle Smillie  said:
on Monday 10-Dec-18 08:40 AM
And then you get the rare occasions where actors and public figures are worth so much, and do their best to keep it, and their personal lives, a secret to the world. It all a popularity contest with most people's judgment clouded by fame. Why would you want the world to know how much money you have? That is just looking for trouble.

brumilde  said:
on Monday 10-Dec-18 08:30 AM
Some other interesting stats to also look at is what you tubers make. Some of them are 18 and rolling in the cash, of course the management of the income is at a low. But i am sure that the people will always want to seem like they are worth more than what is behind the kitchen cupboard

Melissa van Tellingen   said:
on Monday 10-Dec-18 07:41 AM
I agree that placing a value on someone would be extremely inaccurate. Like stated, having property most probably means that one has a mortgage bond which in turn then means not all of it is yours at that point in time. And looking at assets like cars would mean that your so called value decreases on a daily basis. I don't think ones worth can be determined by the public. It's your personal affairs that no one but you actually know the extent of.

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Johannesburg based attorney specializing in personal injury matters including Road Accident Fund claims and medical negligence matters. My interests include golf, reading and the internet and the way it is constantly developing. I have a passion for life and a desire for less stress!
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