There are two versions of this question. Either you want to know your own number, which you can calculate precisely, or you want a famous person’s, which you can only estimate. Here is how to find out networth in both cases, starting with the one you control.
Your own net worth in 20 minutes
Step 1: Write down what you own
Use today’s values, not what you paid.
- Cash and bank balances.
- Investments, including funds and shares.
- Retirement accounts.
- The market value of your home. Online valuation tools or recent sales nearby give a decent guide.
- Car, valuables and a business, if any, at what they would sell for.
Step 2: Write down what you owe
- Mortgage balance.
- Car loans, personal loans, student loans.
- Credit card balances.
- Any tax bills or other unpaid debts.
Step 3: Subtract
Assets minus debts equals net worth. It can be negative, particularly for younger people with student loans, and that is normal.
Step 4: Repeat
Do it again every six or twelve months, on the same date and with the same method. The trend matters more than the first number.
Where to get the information
- Log into your bank, brokerage and pension portals.
- Check your mortgage statement for the balance.
- Use a credit report to see debts you may have forgotten. In the US, you can get free reports through AnnualCreditReport.com.
- Use a spreadsheet or a budgeting app that links accounts.
How you compare with others
For benchmarks, the US Federal Reserve’s Survey of Consumer Finances is the standard source, with medians by age and income. The Federal Reserve Survey of Consumer Finances page has the latest data. In the UK, the Office for National Statistics publishes household wealth figures. Use medians rather than averages, because very rich households distort averages.
Finding out a public figure’s net worth
You cannot find an exact number, because no one outside their finances can. What you can find is a credible estimate.
Where the better estimates come from
1. Forbes and Bloomberg. Both publish wealth lists, with notes about how they value private companies and shares.
2. Public company filings. If someone owns shares in a listed company, filings show how many.
3. Political disclosure forms. Elected officials in the US file ranges of assets and debts.
4. Court records. Divorce and bankruptcy files can show real figures.
5. Interviews. Sometimes people state their own wealth, though it may be rounded or flattering.
Where the worse estimates come from
Anonymous list sites that give numbers with no sources and no dates. They are fine for entertainment, not for decisions.
Red flags in any estimate
- No source named.
- Exact figures with no explanation.
- No date.
- Confuses earnings with net worth.
- Makes no mention of debts.
What to include or leave out
People argue about this a lot, so decide your rule and stick to it. Many include their home equity, while some track “investable” net worth separately, leaving out the home. Cars lose value and are often excluded or valued low. Future inheritances and unvested stock awards usually stay out until they are real.
Quick example
Assets: £10,000 savings, £40,000 pension, £200,000 house. Debts: £150,000 mortgage, £5,000 loan. Net worth is £250,000 minus £155,000, which is £95,000. If you leave out the house and mortgage, “investable” net worth is £45,000.
Questions people ask
Is net worth the same as income?
No. Income is what you earn. Net worth is what you have left after debts.
Can net worth go down while income goes up?
Yes, for example if you take on debt or markets fall.
Is a negative net worth bad?
It is common at the start, especially with student loans. The question is whether it is improving.
How accurate does my number need to be?
Within a few percent is fine. The point is to understand direction.
Putting it to use
Once you know the figure, pick one action that raises it: pay down expensive debt, increase retirement contributions, or build an emergency fund. This is general information, not financial advice. For anything big, such as a mortgage decision, a licensed adviser can look at your whole situation.
Wrap
So, how to find out networth in short? To find out networth for yourself, add up and subtract, then repeat. For anyone else, look for named sources and treat the answer as a range. Simple method, honest limits.
Related reading: What Is a Networth Millionaire? A Plain Explanation.
