The equity is merely an estimate; it’s no longer a traded company so a public valuation is not applicable. The value is still a valid valuation, just as DJT’s valuation of his properties were “valid,” but it’s not as if you can sell portions of the company tomorrow to generate cash that will settle in three days, like you could with Tesla. And the debt is secured by the $19B valuation, so it’s not in addition to the equity; the company is “worth” $19B but caries a debt burden of $13B making it’s liquidation value $6B (not really book value since that includes “good will” and “future performance”, not just the value of it’s real, personal, and intangible/code/patent properties).