How else to do it? Don't count debt at all and pretend that if you've borrowed money, you're rich? Calculate EV of that debt - but how and on what timeframe?
Let’s first agree that it’s misleading. A new born baby has more wealth than bottom 1 million peoples wealth cumulatively according to this metric. That’s ridiculous.
Counting debt makes the poorest person in the world being richer than the poorest 1% combined. That is ridiculous to say, because we intuitively don't read that with negative wealth in mind so you create these very misleading headlines.
