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Tag: millionaire

A millionaire (originally and sometimes still millionnaire) is an individual whose net worth or wealth is equal to or exceeds one million units of currency. It can also be a person who 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. In countries that use the short scale number naming system, a billionaire is someone who has at least a thousand times a million dollars, euros, or the currency of the given country (i.e. $1,000,000,000). In contrast, a billionaire in countries that use the long scale number naming system would be someone who has at least a million times a million units of currency (i.e. $1,000,000,000,000). The increasing number of millionaires is partially due to prevailing economics, especially inflation. The purchasing power of a million US dollars in 1959 is…