Random Stuff you learned today.

Quote: Riverjordan

So, I just found out today that Orlando Brown only has a net worth of $20,000. There's no way that could be true, right? That means he and I make around the same amount of money and I am just an Average person, not a Famous Celebrity.

I have never heard of him (I am assuming he is some sports person who makes a lot of money). But, many Americans have a negative net worth (maybe even most too lazy to look it up). Net worth is Assets-Liabilities (debts), so when you factor in how much you owe on your home and cars versus what they are actually worth, those too things alone drive many people down. Before even getting into consumer debt and student loans.

And, this is something that is not "class specific" many people with large incomes have a negative net worth (or barley positive). There is old some joke (that is probably true), that homeless people have a better net worth than most Americans who consider themselves rich (because they generally have zero liabilities, and whatever they do have they own outright).

To keep it simple let's say you make 100k/year, own a home worth 700k, but owe 900k in mortgage, have a car worth 30k, but owe 50k in car payments, and owe 60k in student loans. (let's keep it simple and assume zero credit cards and consumer debt, though this would be rare).
You have 100k in retirement accounts, 20k in cash/bank, and maybe personal belongings worth 20k.
You would have a net worth of about -150k. Meaning that the panhandler that you pass on your way to work everyday probably has a higher net worth than you.

Net worth scales, so even as you make more money, you often have more liabilities. So having a 20k net worth is actually not terrible regardless of income level. (Looking at the average net worth is very misleading as it is vastly skewed by the super rich). I would guess that the media net worth is under 20k.
Personal net worth is a tricky thing.

Quote: Riverjordan

Orlando Brown was a Famous Child Actor in many popular TV Shows and Movies. Family Matters, That's So Raven, Eddie's Million Dollar Cook Off, The Proud Family, Morsha, Sister Sister, Max Keebler's Big Move, etc. The residuals themselves should be much more than just $20,000. It's not like he's a one hit Commercial wonder who did one commercial like 25 years ago. That would make sense if that were the case but it's not. It's sad someone who should be worth at least one million makes only $20,000.

I am guessing that if he had done a few shows that I have heard of he may have made more money.