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The concept of net worth represents an individual’s or entity’s total assets minus their total liabilities. It provides a snapshot of financial health at a specific point in time, indicating the value of everything owned after all debts are paid. This metric is fundamental in personal finance, business valuation, and estate planning, offering a comprehensive view of accumulated wealth. For instance, if an individual owns a house worth $500,000 and has $100,000 in investments, but …