Net Wealth

What you own minus what you owe.
Net wealth = assets − debts.
Wealth taxes are usually based on net wealth, not gross assets.
In Aotearoa the richest 10% have net wealth over $2 million. That means $2 million left after the mortgage and student loan are fully paid!
Example
If someone owns a $1 million house but has a $700,000 mortgage, their net wealth is $300,000.
Visual idea: Assets box minus debts box = what’s left.