When Wealth Taxes Rely on Financial Accounting Numbers
When people think about billionaire wealth, they picture mansions, yachts, and private jets. But those assets make up only a tiny fraction of billionaire wealth. According to Altrata’s Billionaire Census, about 66% of billionaire wealth is tied up in business equity, while only about 3% is in real estate and luxury assets. And nearly half of that business equity is in private companies, not publicly traded firms.