In business, net worth (sometimes called net assets) is the total assets minus total outside liabilities of an individual or a company. For a company, this is called shareholders' preference and may be referred to as book value. Net worth is stated as at a particular year in time. In the case of an individual, the term estate is used in relation to deceased individuals in probate. For businesses, the term is used in the context of fraudulent law and on the dissolution of the company.

In personal finance, net worth (or wealth) refers to an individual's net economic position; similarly, it uses the value of all assets (long term assets) minus the value of all liabilities.

Net worth in business is generally based on the value of all assets and liabilities at the carrying value which is the value as expressed on the financial statements. To the extent items on the balance sheet do not express their true (market) value, the net worth will also be inaccurate.

Net worth in this formulation is not an expression of the market value of the firm: the firm may be worth more (or less) if sold as a going concern.

Taylor Alison Swift (born December 13, 1989) is an American singer-songwriter and occasional actress. Raised in Wyomissing, Pennsylvania, Swift moved to Nashville, Tennessee at the age of fourteen to pursue a career in country music. She signed to the independent label Big Machine Records and became the youngest songwriter ever hired by the Sony/ATV Music publishing house. The release of Swift's self-titled debut album in 2006 established her as a country music star. "Our Song", her third single, made her the youngest sole writer and singer of a number one song on the country chart. She received a Best New Artist nomination at the 50th Grammy Awards.

Swift's second album, Fearless, was released in late 2008. Buoyed by the chart success of the singles "Love Story" and "You Belong with Me", Fearless attracted a crossover audience and became the top-selling album of 2009. The record won four Grammy Awards, with Swift becoming the youngest ever Album of the Year winner. Fearless also received Album of the Year plaudits at the American Music Awards, Academy of Country Music Awards and Country Music Association Awards, making it the most awarded album in country music history. In 2010, Swift released her third album, Speak Now, which sold over one million copies in its first week. She then embarked on the 111-date Speak Now World Tour, which was attended by over 1.6 million fans and has become one of the highest-grossing concert tours of all time. The album's third single, "Mean", won two Grammy Awards for Best Country Song and Best Country Solo Performance. Swift is currently recording her fourth studio album, due for release in the fall of 2012.

Barack Hussein Obama II (ⁱ/bəˈrɑːk huːˈseɪn oʊˈbɑːmə/; born August 4, 1961) is the 44th and current President of the United States. He is the first African American to hold the office. In January 2005, Obama was sworn in as a U.S. Senator in the state of Illinois. He would hold this office until November 2008, when he resigned following his victory in the 2008 presidential election.

Born in Honolulu, Hawaii, Obama is a graduate of Columbia University and Harvard Law School, where he was the president of the Harvard Law Review. He was a community organizer in Chicago before earning his law degree. He worked as a civil rights attorney in Chicago and taught constitutional law at the University of Chicago Law School from 1992 to 2004. He served three terms representing the 13th District in the Illinois Senate from 1997 to 2004.

Following an unsuccessful bid against the Democratic incumbent for a seat in the United States House of Representatives in 2000, Obama ran for the United States Senate in 2004. Several events brought him to national attention during the campaign, including his victory in the March 2004 Illinois Democratic primary for the Senate election and his keynote address at the Democratic National Convention in July 2004. He won election to the U.S. Senate in Illinois in November 2004. His presidential campaign began in February 2007, and after a close campaign in the 2008 Democratic Party presidential primaries against Hillary Rodham Clinton, he won his party's nomination. In the 2008 presidential election, he defeated Republican nominee John McCain, and was inaugurated as president on January 20, 2009. Nine months later, Obama was named the 2009 Nobel Peace Prize laureate. In April 2011, he announced that he would be running for re-election in 2012.