'I'm a billionaire. A real one': Lawyer claims only about 20 people actually have $1B in the bank and he's one of them

For many, being a billionaire conjures images of lavish spending, freedom and an endless cash flow. But for most of the world's richest people, their fortunes aren't sitting neatly in a savings account.

They're tied up in companies, stocks, real estate, private investments and other assets that can be worth billions. However, one billionaire is claiming that only a small portion of the super wealthy actually has a billion dollars in the bank.

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"I don't consider anybody a billionaire that doesn't have a real billion in the bank," lawyer John Morgan said on an episode of The Iced Coffee Hour podcast. "Guess how many people have a real billion, liquid? Maybe 20."

Morgan is an attorney and politician best known as the founder of the personal injury law firm Morgan & Morgan, the largest personal injury firm in the country. Forbes estimates Morgan is worth about $1.5 billion , and as he shared on the podcast, the majority of that money is liquid in his bank account, unlike most ultra-wealthy people.

"I'm a billionaire. A real one," said Morgan.

"Look, Kanye West was a billionaire. That [expletive] wasn't a billionaire," Morgan continued. "He's making $40 million a year and that means it's a 25x, and 25 times 40 is one billion, you're a billionaire."

West is an interesting example, considering that his billionaire status was quickly lost after several brands cut ties with the controversial artist. Forbes had estimated the rapper was worth $1.5 billion thanks to an Adidas deal, but dropped his net worth to $400 million after the deal was cut.

Still, Morgan's point is an interesting one considering there are now more billionaires than any other time in history — nearly 3,800 of them. According to Altra, the combined net worth of the billionaire population hit a record $15.1 trillion in 2025.

But the term billionaire usually means a net worth of $1 billion, not $1 billion sitting in cash or readily sellable securities. So, just how many of these people actually have a billion dollars liquid?

While Morgan claims there are only about 20 other billionaires with that value in liquid cash, the exact number — and who they are — is difficult to pinpoint.