Quick Facts of Minkah Fitzpatrick
| Net Worth | $1 Million - $10 Million |
|---|---|
| Name | Minkah Fitzpatrick |
| Date of Birth | November 17, 1996 (22 years) |
| Nationality | American |
| Profession | Professional Football Player |
| Position | Free Safety |
| Height | 6 Feet 1inch (1.85m) |
Minkah Fitzpatrick’s net worth in 2019: $3.74 million
Introduction:
Minkah Fitzpatrick is an American professional football player currently playing for Miami Dolphins of National Football League. His early stages of football career began in Alabama and was drafted by Miami in 2018 NFL.
He is recognised by ESPN as five-star recruit and was listed as No.4 cornerback in America in the year 2015. He was part of Alabama team which won the National Championship.
Sources of Income:
He came to limelight from year 2015 after signing a deal with Alabama to play for them, but then the amount of the deal was not disclosed to the public. As on date, all of his earnings are from his professional career as a football player.
As per the Dolphins active roster, Fitzpatrick was ranked 14th with a $3.74Million cap for the year 2019 and 16th with a cap of $2.99Million.
His deal with MIA are as follows:
| YEAR | TEAM | Deal Amount |
|---|---|---|
| 2018 | MIA | $2.99 Million |
| 2019 | MIA | $3.74 Million |
| 2020 | MIA | $4.49 million |
| 2021 | MIA | $5.23 Million |
He kept his life little private by not disclosing even his parents information apart from his sibling named Promise, Justice, destiny and Divine.
Other components like his spending behaviour pattern, lifestyle and income sources are not disclosed anywhere in the public life. But on the other hand, as per Acinemazz.com, Fitzpatrick is ranked among the list of top celebrities and richest people.
He tops the list of players in the club to be paid with an amount of $2.99 in the year 2018 and overall position in the year 2019 at $3.74Million.
What does Net Worth Mean?
What is a Net Worth?
It is a quantitative concept which measures the value of an entity. It is applicable ranging from an individual to companies, organizations, sectors and a country as a whole. To put it simply, it is the difference between assets and liabilities. A positive net worth means assets are greater than liabilities, whereas negative net worth mean liabilities are greater than assets.
Formula:
Net Worth = Assets – Liabilities
A little more into Net Worth Concept:
Net worth conveys the financial health of any entity. Asset is anything that is owned and has a monetary value to it while liabilities is a commitment that deplete resources. Assets can be liquid or which can turn into liquid ( example: bank check ). They are non-liquid when they take time to turn into cash (like for example Home). Whereas liability is an obligation that has to be repaid ( example: home loan, car loan etc.,)
Any financial institution or 3rd party look at your assets and liabilities to understand the financial position. Positive net worth or increasing asset base indicates good financial health while negative net worth or increasing liabilities means a bad financial health condition.
It is always a good habit for any entity to maintain a reduce liabilities and increase or maintain a balanced asset base.
What does a Net Worth Mean to a person?
In simple terms, it means the value that is left after subtracting liabilities from assets. Few Examples of liabilities include car loans, student loans, home loans, credit card bills, and other mortgages etc., whereas an individual’s assets are amount in the savings account, home, vehicle, bonds, stocks and other material that has value.
In other words, whatever is left after paying off all the personal debt from asset base is net worth. It is important to understand that value of net worth varies as per the market value of assets and current debt costs.
For example:
Consider a case of Ramu Johnson. His assets include a house valued at $350000, shares worth $150000 and a car worth $35000. His liabilities include a mortgage balance of
$150000 and an outstanding car loan $15000 to be paid.
Now Ramu Johnson’s Net Worth = ($350000+$150000+$35000) – ($150000+$15000)
= ($535000 ) – ($165000)
= $370000
Assuming Ramu Johnson’s financial position after five years as follows –
House value at $350000, Shares value at $180000, savings $ 40000 and car value $25000. While mortgage loan $120000, car loan $0 (paid off).
The Net worth after 5 years would = ($350000+$180000+$ 40000 + $25000 ) – ($120000)
= $595000 – $120000
= $475000
Here it is understood that, although the fact that the value of a house and car decrease, the net worth have increased to $475000. It is because a decline in house loan is less than the overall asset base and decrease in liabilities.
Note that, an individual’s net worth can be negative if his asset base is less than liabilities.
What does net worth mean for celebrities?
Most often celebrities fall under High Net worth Individuals. And what does HNWI mean?
People with considerable net worth as called as HNWI.
Independent Charted Accounts, wealth managers and investment counsellors stay close to them making them as prime markets.
As per Securities and Exchange Commission( SEC), investors more than 1Million are considered as accredited investors to invite them to invest in unrequested securities.
Is 401k part of net worth?
As per the definition, 401K is also a part of net worth if it is calculated in terms of assets and liabilities. But, in this case, 401K have no specifics as in, therefore it cannot be measured.
What is the average American net worth?
Like any entities net worth a countries net worth can be calculated as below. It is a sum of net worth of all individuals (citizens), companies and organizations reside in America, plus countries net worth. In America, this measure is referred to as financial position.
As on quarter 1 2014, America’s financial position =
Assets ( $269.6 trillion) – liabilities ($145.8 trillion ) = $123.8 trillion.
What is a good net worth by age?
| Age of Household | Median Net Worth |
|---|---|
| Under 35 years | $6,900 |
| 35 to 44 years | $45,740 |
| 45 to 54 years | $100,404 |
| 55 – 64 years | $164,498 |
| 65 – 69 years | $193,833 |
| 70 – 74 years | $225,390 |
| 65 – 75 Years | $202,950 |
| 75 + Years | $197,758 |
What is the net worth of the top 1%, 5%, 10%?
As in America, wealth distribution is as follows
Richest 1% of the population owned 35% of the country’s total wealth
Richest 5% of the population owned 11% of the country’s total wealth
Richest 10% of the population owned 12% of the country’s total wealth
Career Highlights:
- Won 2 times College Football Playoff Championship during 2015 and 2017
- Won 2 times College Football All American in 2016 and 2017
- Chuck Bednarik Award in the year 2017
- Jim Thorpe Award in the year 2017
- First team All SEC 2 times in the year 2016 and 2017
- High school all American awarded by USA Today
- Freshman All American title was given by sporting News
Professional Career:
In the early age he played high school football for Marauders in St. Peter’s Preparatory school, New Jersey and recorded 70 tackles and three interceptions on defence in the year 2014 alone. With a record time of 10.86 seconds and 21.66 seconds in the 100 and 200 meters, Fitzpatrick was placed in the first place at the Hudson county Championships.
After his minor injury in his first year of school, sophomore in 2016 brought him recognition after he broke the record of Alabama Crimson tide and was ranked 16th Arkansas. He also broke Alabama Crimson Tide all-time record for most career interceptions returned for a touchdown.
Other components of life:
He is one of the few to be picked in the very first round by NFL draft experts and scouts and he was the first safety drafted in the year 2018. He is known for playing as wide receiver and defensive back in his game.
Not just that, he was listed No.4 comeback in the year 2015 and a 5star recruit by ESPN in the same year. And was mentioned as one of the top celebrities in America by one of the prominent magazines in the year 2017.
Success lessons from Minkah Fitzpatrick:
- One of the youngest players to enter into NFL and reach the mark of $10Million net worth.
- He broke Alabama Crimson Tide all-time record for most career interceptions returned for a touchdown at his early age.
- His decision to forgo his formal education to enter into professional football and earn a mark for him.
