There are many ways to answer your question, but the $3.2B figure isn't the best. It's not a "return," it's a valuation. A simplified example is you buy a house for $100k. You do some renovations for $20k over a 10 year period. Over that timeframe, the real estate market heats up and the neighborhood becomes more valuable. Today, a real estate agent tells you that the house is worth $150k. This fact alone doesn't change your income or cash position.