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Millionaire

Individual whose wealth is more than one million units of currency / From Wikipedia, the free encyclopedia

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.[2] 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 2007 could have been extremely poor.[3] 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.

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A large suburban home valued at roughly $1,000,000 (2006) in Salinas, California, shown for scale of purchasing power
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Global share of wealth by wealth group, Credit Suisse, 2021[1]

As of December 2022, there were estimated to be just over 15 million millionaires in the world according to the World's Wealthiest Cities Report 2023 by Henley & Partners. The United States had the highest number of millionaires (5.3 million) of any country, whilst New York is the wealthiest city with 340,000 millionaires.[4]

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.