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You’re just looking at assets. Don’t forget liabilities.

And all the laundering/corruption they have been hiding.

God, this world has so many corrupt companies in it.

And liabilities which may manifest in weird and expensive ways.

Like the London Whale (£3Bn??) for JP Morgan and countless other examples

They are not buying the buildings alone. They are buying loads of debt as well - and other assets which may or may not be enough to cover the debts.

And unlike SVB, they are actually one of the players in derivative market. And whatever goes on there. And multipliers in there are big compared to their value as company.

It's funny how this is a common fallacy. I thought exactly the same when Barings Bank was sold for one British Pound back in 1995 [1].

[1] - https://www.investopedia.com/terms/b/baringsbank.asp