Glossary of Business Terms - Millionaire |
Millionaire
: A Millionaire refers
to an individual whose net worth is equivalent
to or greater than one million dollars or
one million British pounds. Individuals
who quantify their worth in other currencies
qualify as millionaires based on the exchange
rate and their estimated value in dollars
or pounds.
Due to inflation,
the millionaire status does not have the
same degree of exclusivity it once did.
Increasingly larger numbers of people are
considered to be millionaires. Billionaires
are now becoming more common.
By some definitions, a millionaire is anyone
who has one million of any kind of currency,
making this title even more common in countries
where the value of a single unit is very
small.
Other terms have come about over the years.
Multimillionaires are those who have a net
worth of over 2 million dollars. Individuals
fitting into this category have become more
numerous over time. As a result, the terms
hectomillionaire, centimillionaire and middle-class
millionaire have surfaced to further classify
the growing number of individuals who fit
into the multimillionaire category. Although
classifications often refer to households
that have amassed large wealth, the terms
are generally associated with individuals.
Also called : Multimillionaire, hectomillionaire,
centimillionaire, mMillionaire, middle-class
millionaire.
More Millionaire Information : American
Rich Lists, Australian
Rich Lists, and World
Rich Lists
:::
Home> Glossary
of Terms> What is a Millionaire? |
|
|
Related Business Resources @ Woopidoo.com |
|
Business
Terms : Billionaire
- America
(USA) - Bull
Market - Philanthropy
Business
Quotes : America
- Assets
- Bull
Market - Business
- Capitalism
- Economy
- Greed
- Inspirational
- Investing
- Money
- Real
Estate - Rich
- Stock
Market - Success
- Values
- Wealth
- All
Quotes
Related Millionaire Articles and News
|
|
|
|
Special Offers |
|
|
|
Business Success |
|
|
| |
High Yield Savings Account
Get 2 Free Audio Books