Millionaire

A millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency. Depending on the currency, a certain level of prestige is associated with being a millionaire.

Many national currencies have, or have had at various times, a low unit value, in many cases due to past inflation. It is much easier and less significant to be a millionaire in those currencies, thus a millionaire in the local currency of Hong Kong or Taiwan, for example, may be merely of average wealth, or perhaps less wealthy than average. A millionaire in Zimbabwe in 2007 could have been extremely poor. Because of this, the term "millionaire" generally refers to those whose assets total at least one million units of a high-value currency, such as the United States dollar, euro, or pound sterling. Even in these currencies, the prestige associated with being a millionaire has decreased over time, due to inflation.