American billionaires are now more common than the sound of hand clapping in a Spoon song, and the latest Forbes list of the 400 richest Americans doesn't even include billionaires with less than $1.3 billion.  With my net worth now above $10 billion (see net worth calculator on the sidebar), I will now distinguish myself from other billionaire Americans by referring to myself as a decabillionaire.  I ask that you do the same.

How do I calculate my net worth?  The same way I calculate the net asset value of my fund:

1. any security that is listed or quoted on any securities exchange or similar electronic system and regularly traded thereon is valued at its last traded price;
2. any security that is not listed or quoted on any securities exchange or similar electronic system or is not regularly traded is valued at its fair market value as determined by me in good faith and having regard to objective third party market data, dealer quotations, the price at which any recent transaction in the security may have been effected, the size of the holding and such other factors as I may deem relevant;
3. investments, other than securities, that are dealt in or traded through a clearing firm or an exchange or through a financial institution will be valued by reference to the most recent official settlement price quoted by that clearing house, exchange or financial institution; and
4. investments, other than securities, including over-the-counter derivatives contracts, which are not dealt in or traded through a clearing firm or an exchange or through a financial institution will be valued on the basis of objective third party market data.

Of course, if I determine that the use of any of the above doesn't accurately reflect fair market value, I can use a different valuation methodology so long as I think it does a better job of reflecting fair market value.

A couple of other interesting tidbits from the latest Forbes list: nearly half of the 45 new additions made their fortunes from hedge funds and private equity funds, and two new members — Brothers Frank and Lorenzo Fertitta — made the list due to the success of Ultimate Fighting Championship.