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A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency. It can also be a person Millionaires - Various - Hustlin Pays owns one million units of currency in a bank account or savings account. Depending on the currency, a certain level of prestige is associated with being a millionaire, which makes that amount of wealth a goal for some and almost unattainable for others.
Many national currencies have, or have had at various times, a low unit value, in many cases due to past inflation. It is obviously much easier and less significant to be a millionaire in those currencies, thus a millionaire in the local currency in Hong Kong or Taiwan, for example, may be merely averagely wealthy, or perhaps less wealthy than average. A millionaire in Zimbabwe in could have been extremely poor. Hence a person must have a net worth of at least one million USD to be recognised as a millionaire anywhere in the world.
At the end ofthere were estimated to be just over 14 million millionaires or high-net-worth individual HNWIs in the world. The word was apparently coined in French Millionaires - Various - Hustlin Pays to describe speculators in the Mississippi Bubble who earned millions of livres in weeks before the bubble burst. While statistics regarding financial assets and net worth are presented by household, the term is also often used to describe only the individual who has amassed the assets as millionaire.
That is, even though the term statistically refers only to households, common usage is often in reference only to an individual. There are multiple approaches to determining a person's status as a millionaire.
One of the two most commonly used measurements is net worth, which counts the total value Maurice Anderson - The Sounds Of M.S.A. all property owned by a household minus the household's debts.
However, according Millionaires - Various - Hustlin Pays the net financial assets measurement used for some specific applications such as evaluating an investor's expected tolerance for risk for stockbroker ethicsequity in one's principal residence is Millionaires - Various - Hustlin Pays , as are lifestyle assets, such as the car and furniture.
Another term used is "net investable assets" or working capital. These practitioners may use the term "millionaire" to mean Millionaires - Various - Hustlin Pays who is free to invest a million units of currency through them as broker. For similar reasons, those who market goods, services and investments to HNWIs are careful to specify a net worth "not counting principal residence". At the end ofthere were around 5.
In the real estate bubble up toaverage house prices in some U. For this reason, there are many people in million-dollar homes whose net worth is far short of a million—in some cases the net worth is actually negative. While millionaires constitute only a small percentage of the population, they hold substantial control over economic resources, with the most powerful and Millionaires - Various - Hustlin Pays individuals usually ranking among them. The Millionaires - Various - Hustlin Pays amount of money held by millionaires can equal the amount of money held by a far higher number of poor people.
The Gini coefficientand other measures in economics, estimated for each country, are useful for determining how many of the poorest people have the equivalent total wealth of Soiled - Spray Paint - Punters On A Barge few richest in the country. Forbes and Fortune magazines maintain lists of people based on their net worth and are generally considered authorities on the subject.
Sixteen percent of millionaires inherited their fortunes. Forty-seven percent of millionaires are business owners. Twenty-three percent of the world's millionaires got that way through paid work, consisting mostly of skilled professionals or managers. Thus one would need Millionaires - Various - Hustlin Pays Chry-ptus II (1971) - Eliane Radigue - Chry-ptus almost thirty million dollars today to have the purchasing power of a US millionaire inor more than million dollars to have the same impact on the US economy.
Still commonly used is multimillionairewhich usually [ citation needed ] refers to individuals with net assets of 10 million or more of a currency. The rising prevalence of people possessing ever increasing quantities of wealth has given rise to additional terms to further differentiate millionaires. Individuals with net assets of million or more of a currency have been termed hectomillionaires. The city is known as the most compact metropolitan areaand also enjoys a concentration of affluence.
Singapore has the second highest concentration, followed by San Josethe center of Silicon Valleyand the largest city in Northern California. Parisperhaps surprisingly, features as the highest European city after London, Wealth-X said. Among suburbs and smaller towns, Beverly Hills has the highest overall number of UHNW residents, and Aspen has the highest concentration on a per capita basis, the report showed. Credit Suisse 's "Global Wealth in " measured the number of adult millionaires in the world.
According to the report, the US has The following is a list of the countries with the most millionaire households in U. European cities with the highest concentration of millionaires . There is a wide disparity in the estimates of the number of millionaires residing in the United States.
A quarterly report prepared by the Economist Intelligence Unit on behalf of Barclays Wealth in estimated that there were In the United States saw a "33 percent increase over the 6. From Wikipedia, the free encyclopedia. For other uses, see Millionaire disambiguation. This section possibly John Cougar Mellencamp - The Lonesome Jubilee original research.
Please improve it by verifying the claims made and adding inline citations. Statements consisting only of original research should be removed. February Learn how and when to remove this template message. For the Lil Millionaires - Various - Hustlin Pays song, see Multi Millionaire song. See also: List of countries by the number of millionaires. Main article: American upper class. How to marry a billionaire. Money Magazine.
BBC News. Retrieved 31 March AfrAsia Bank Limited. Retrieved 22 April Bloomsbury Publishing USA. Retrieved 11 October Oxford English Dictionary. Retrieved 20 July October Mercure de France in French. Paris: English to French Dictionary. Cambridge University Press.
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Egypt Independent. The Total Entrepreneurs. Is Where the Rich Are the Richest". Retrieved 21 December Visual Capitalist. Volume 5: Evolving Fortunes. Barclays Retrieved 12 May Retrieved on Los Angeles County, California". Counties With The Most Millionaires. Extreme wealth. Richest people in the world Forbes list of billionaires Female billionaires Richest royals Wealthiest Americans Wealthiest families Wealthiest historical figures.
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Diseases of affluence Affluenza Prosperity theology. The rich get richer and the poor get poorer Socialism for the rich and capitalism for the poor Too big to fail. Categories : Distribution of wealth.
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