Talk:Millionaire

message: Just wondering if anyone ever used this term to refer to someone with a thousand currency units in the bank? As a kid in the 1970's I remember my parents, who weren't rich but weren't poor (dad was a teacher and mom was a beautician) referring to themselves and other people who had a $1,000 or more in savings as "Thousandaires". Maybe it was a joke that I just didn't get as a kid but I am wondering if the term "Thousandaire" was ever used like the term Millionaire is used now and just fell out of usage because of inflation. Thanks.  —Preceding unsigned comment added by 69.133.42.16 (talk) 21:02, 28 October 2009 (UTC)
thread_title: Thousandaire

message: A millionaire is a person who has a net worth or wealth of more than one million United States dollars, euros, UK pounds or units of a similarly valued currency.
Wealth is not precisely defined, and what is a "similarly valued currency"? It appears that there is no good definition of "millionaire". Brianjd 11:09, 2004 Dec 18 (UTC)
: I also don't think it's clear that the currency needs to be "similarly valued"  (if we can even say meaningfully that United States dollars and UK pounds have similar values). The website Whatmillion.com takes a net worth in any of a few currencies, and finds the currency where the holder would be a millionaire (e.g. Vietnamese đồng, Kuwaiti Dinar, etc).  I also remember having been in some countries, but can not definitively site examples, where the term is reserved for earnings rather than net worth.  TheSparrow 04:27, 17 April 2006 (UTC)
thread_title: Currency

message: CNN Money has reported that as of May 2005 the number of millionaires in the U.S. itself is nearly 7 million. Is this number simply including "paper millionaires," whereas this Wikipedia article is only counting those who have 1 million dollars or over in "cash?" If not then maybe it's time to edit the information! (This comment was left by User:24.16.63.183)
:The CNN report obviously counts "money millionaires." It very clearly states that real estate equity is the most common assets among millionaires in the US. Also, please remember the original research policy. We don't count here; CNN counts, Forbers counts, Merril Lynch counts. We just report the findings of such institutions and thus need to list all their findings, those who include "equity millionaire" and those include "financial asset millionaires." Thanks. Regards, Signaturebrendel 06:40, 6 June 2006 (UTC)
replies: text: Thanks for the response, I was the one who had asked this question before creating my Wikipedia account. And thank you for updating/upgrading the article!--Theelectricchild 14:28, 6 June 2006 (UTC)
replies: text: No problem. Best Regards, Signaturebrendel 18:18, 6 June 2006 (UTC)
thread_title:  Number of millionaires quite ambiguous? 

message: Please include the female spelling, millionairess.
And create a Redirect Article millionairess.
Thanks
100110100 08:17, 26 July 2006 (UTC)
thread_title:  Tag 

message: Number od HNWIs (in thousands ) in selected countries from World Wealth Report 2005 and 2006
Country - year 2003, 2004 and 2005
Australia   117 134 146 
Brasil         92 98 109
Canada     200 217 232
China       287 300 320
Germany  756 760 767 
India       61 70 83
Russia      84 88 103
UK            383 418 448
US          2272 2498 2669
Country -year 2004 and 2005
UAE                 53 59  
Saudi Arabia   70 80
Country -year 2004
Singapore     49
South Africa  37
Hong Kong    67
South Korea  71
Spain         141
sources:
http://www.rediff.com/money/2006/jun/21rich.htm
(2006 Report) There are now 8.7 million millionaires on the planet, 6.5 per cent more than there were last year.
The report said that United States is the richest nation with 2.67 million millionaires. The other countries with the highest number of HNWIs are: Germany (767,000), the United Kingdom (448,000), China (320,000), Canada (232,000), Australia (146,000), Brazil (109,000), and Russia (103,000). HNWI
http://www.fin-rus.com/sector/economics00004009FC/default.asp
http://www.us.capgemini.com/DownloadLibrary/files/Capgemini_FSI_WWR06.pdf
http://www.us.capgemini.com/DownloadLibrary/files/Capgemini_FSI_WWR05.pdf
--
I am finding these numbers somewhat hard to believe. In the article there was an estimate cited from Barclays I think that said the USA had 16.6m millionaires, that number is way out of line with the other estimates and obviously not in line with the "10m millionaires worldwide" estimate that heads the sections. I think what is happening is many estimates are excluding the value of primary residences. Including these numbers would change things considerably (by word of mouth, I remember hearing that in Madrid as far back as the 1990s, the average 4 person home was worth 4m $US - which would basically mean everyone in Madrid would count). Europe as a whole concentrated on inflating their real estate values before the USA did, and numbers from all such populous countries should probably be in the millions. So I pose this question: do we need to include such dubious numbers at all, without a standard reference? --173.66.8.77 (talk) 22:39, 2 April 2012 (UTC)
thread_title:  Number of millionaires by country 

message: portrays millionaires in the wrong light. most millionaires do not own superexpensive homes, cars, etc. they save money. that's how they got to be millionaires. right now, i'm reading The Millionaire Next Door, and it talks about stuff like that. it's a good book, if anybody wants something to read. Harpiegirl6 23:02, 6 September 2006 (UTC)
replies: text: True. Just about half of all millionaires are retired; meaning that they have simply managed to accumulate one million over the course of their lifes. Most millionaires are middle class people who were smart with their investments and now have a lot os assets. Besdies a most millionaires (By Net Worth) have their assets locked up in real estate; thus their million does not affecting their lifestyles. I think it is also important to remember that the majority of millionaires are not multi-millionaies, meaning that their net worth ranges between one and two million. Regards, Signaturebrendel 23:23, 6 September 2006 (UTC)
replies: text: I just found out that someone close to me is a millionare and that's why I was reading this article. But the thing is he just found out that he is because a house he bought a long time ago is now sitting on prime real-estate. His networth is now huge but he's the same guy who has to work his ass off for a living. -- 18:19, 9 September 2006 (UTC)
replies: text: Exactely. The real estate market has been the dirivng force behind the recent increase in millionaires. Fact is that while 7% are millionaires according to net worth only 2.6% actually have assets (other than equity) worth 1 mil or more. The story you shared above is very typical of a modern millionaire. Here in California, house prices increased up to 400% in just five years, leaving many working class people, finding themselves with a net worth of one million or more, because what was once a modest home is now a "California cottege." Personally, I haven't read the book but encourage you to editasseas the article with the info from the book. Regards, Signaturebrendel 23:08, 9 September 2006 (UTC)

text: No the maid isn't going to be millionaire but the guy's teenage son or daughter is. Also, yes if ten people w/ $100k live together then they are living in a millionaire household. That's how the US government collects data; by household not individual. Its the same problem with income. Three low-income people live together and their household may be among the top 10% on the income strata. Consider that the majority of households with six-figure incomes wouldn't have them if they didn't have two income eanrers. Who's wealthier a family of four making $120,000 or a family of two making $80,000 a year? There is an inherit flaw in counting the gross total earnings and net worth by household instead of dividing them by household member, but that's how the Departement of Commerce does it. And finally yes, "The poor guy with the inflated house," is by net worth a millionaire. Trust me I live in CA, I see households who make less than $60k in million dollars homes all the time-I know it sounds rediculous to call them millionaires, but according to Gov data they are. How else would almost 8% of Americans get to be millionaires. I agree with you that income should be the definition, as that really affects lifestyle, but unfortunately that's not how the Gov or media sees it. Regards Signaturebrendel 19:07, 7 October 2006 (UTC)

text: Thanks for that information.  However, I'm willing to bet that the Dept of Commerce definition of millionaire isn't the same as the IRS's.  Perhaps the first sentence in the article should stipulate that the rest of the article is based on a flawed argument from the DofC and someone can make another article on 'real' millionaires.  Emeraude 21:17, 7 October 2006 (UTC)
replies: text: Well, I'm not really up to re-writing the article now. The thing is that there are different definitions of what a millionaire is. It's also a loaded term and recent deveoplments in the economy have made it possible for "The poor guy with the inflated house" to call himself a millionaire, in terms of net worth. The DofC def isn't really flawed, its based on net worth. The DofC also measured assets, excluding home equite, then only about 2.6% would be millionaires. There are a lot of ways to count wealth, just like there are a lot of ways to count income. If this article was to feature a scientific approach it should eventually look something like my Household income in the United States article. Perhaps we need to mention the image that pops into peoples heads when they hear the word millionaire aside from all the economic stats we can cite. Anyways, feel free to edit the article, this one needs it. Regards, Signaturebrendel 05:46, 8 October 2006 (UTC)

text: Your 'sensible definition' appears to have almost come true - in recent years President Obama has talked about "millionaires and billionaires," and has promoted an extra tax on those with income of over a million dollars per year. I've since seen this usage of millionaire (based on income rather than assets). Benbradley (talk) 03:13, 8 December 2013 (UTC)
thread_title: this article...

message: There seems to be universal acceptance of a definition that excludes the equity built up in a primary residence.  Here are some problems with that:
- Allows individual control of whether they qualify for "millionaire" category.  Example:  I live in a $900k home.  I have $500k in equity, and another $500k in non-residence assets.  If I decide to sell my home and move into a rental apartment, I get to be a millionaire (woo hoo)!  Or I can appear to be worth zero by investing what is left of my non-house assets in a $1.4 million home.  kagdy
- Discredits individual's wealth building skills when their knowledge and timing of investment in real estate happens to be connected with their strategy for acquiring a primary residence.  Example, I timed my purchase of my primary residence for the 90's real estate recovery.  But according to the definition, I have failed to create 1 million in wealth because my savings and investment vehicle was my home.  Again, why should ownership or liquidation of a primary residence be able to "swing the meter" from millionaire, to "poor", then back to millionaire?  The same skills and principles of building wealth are employed in either case? —The preceding unsigned comment was added by 198.57.19.103 (talk) 17:09, 27 March 2007 (UTC)
replies: text: Why? Becuase markets arn't always rational. Luck is -this goes not just for the real estate market- the most important factor in deciciding what makes people rich. Talent and effort will make you affluent, but you need to luck to become rich. As for the universal acceptance, it doesn't exsist. The word millionaire may refer to persons such as yourself in the example above, or just to those with liquid assets worth $1 million or more. It depends on context. Sociologist Leonard Beeghley, for example, class all net worth millionaries, rich - yet others don't. There simply isn't a consensus on this issue and our article needs to reflect that. Thanks for your input. Regards, Signaturebrendel 23:20, 18 July 2007 (UTC)
replies: text: Gearing and timing are more important than luck. I read somewhere that the wealthy people have the higher proportionate amount of borrowings. 80.2.201.161 (talk) 14:25, 28 June 2008 (UTC)
replies: text: It's called "Leverage". Folk with high net worth will find it far easier to borrow money than those with no assets - see Credit Risk. DrVxD (talk) 17:24, 17 September 2008 (UTC)
thread_title:  Millionaire Definition 

message: I split off a separate section to discuss various distinctions in the use of the word millionaire. The "middle-class millionaire" bit might be unique to the US and Canada, haven't really researched it yet though. Feel free to take out the Onion video if it seems inappropriate - just didn't want anyone crying neologism on me. Luatha 02:41, 9 October 2007 (UTC)
replies: text: I think this section should be deleted. None of the terms described (except "multimillionnaire") are in widespread use. Even mMillionaire was only a flash in the pan. Multimillionnaire is described later in the article. Would anyone object to its deletion? --Surturz (talk) 07:34, 15 July 2008 (UTC)
replies: text: Since there are no objections, I've removed centimillionaire et al. --Surturz (talk) 06:10, 25 July 2008 (UTC)
thread_title:  Terminology section 

message: At the top we see "A multimillionaire has a net worth of more than 2 million units of currency,"
futher down the page we see "Another commonly used term is Multimillionaire. As the term implies, multimillionaire applies to those individuals residing in households with a net worth or wealth of 10 million or more units of currency." they cannot both be right.
193.34.186.161 (talk) 13:09, 14 May 2008 (UTC)
replies: text: I think a multimillionaire is someone with more than 2 million. I have never heard it defined as 10 million. And, as a side note, there must be lots of dollar millionaire households in the UK, since $1M is only £500000, which is only £250000 each for a couple. Since the average UK home costs about £190000, then two adults who both own a slightly better than average home could easily form a $1M household. Even though I live in a below average town, there are dozens of houses here that cost more than the equivalent of $1M. Property here is much more expensive than the US unfortunately. 80.2.201.161 (talk) 14:19, 28 June 2008 (UTC)
thread_title:  Multimillionaire Definition 

message: Would be nice to have an article on this, or the self-made billionaire, since anyone can inherit but it takes real ability, daring and chutzpah (sp?) to make it yourself. 80.2.201.161 (talk) 14:35, 28 June 2008 (UTC)
replies: text: It probably out to just redirect to Warren Buffet :) DrVxD (talk) 17:32, 17 September 2008 (UTC)
replies: text:  It would be very unlikely to happen. South Bay (talk) 01:34, 20 March 2009 (UTC)
thread_title:  [[Self-made millionaire]] 

message: The article says "scotland has more female millionaires than male" and currently this has no citation. Would this be a good one?Spacerat3004 (talk) 23:39, 19 May 2009 (UTC)
thread_title:  [[Scotland]] 

message: "Paper millionnaire" redirects here. However, the article completely fails to explain what a paper millionaire is, and consequently I still have no clue. Could someone who does know this fix it? Thanks! :-) Gijs Kruitbosch (talk) 20:03, 21 January 2010 (UTC)
thread_title:  Paper Millionaire 

message: None of this material belongs in the section on net worth:
While millionaires constitute only a small percentage of the population, they hold substantial control over economic resources with the most powerful and prominent individuals usually ranking among them. Also, the total amount of money held by millionaires can equal the same amount of money held by a far higher number of poor people. The Gini coefficient, and other measures in economics, estimated for each country, are useful for figuring out how many of the poorest people have the equivalent total wealth of the 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. According to Forbes' latest annual list of the World's Billionaires published in March 2008 there are currently 1125 members of the exclusive Billionaire's club US-dollar billionaires in the world.
 
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.[8]
72.187.99.79 (talk) 17:10, 5 April 2011 (UTC)
thread_title:  Influence 

message: Trump is pictured among those who earned their wealth as entrepreneurs. Trump inherited a large fortune. I've read reports that if he had invested his inheritance in T-Bills he would be even richer today. How about we swap him out for a less ambiguous personage? LK (talk) 07:25, 11 October 2011 (UTC)
thread_title:  Donald Trump 

message: As millionaire must be considered the person and not the householder.151.40.127.0 (talk) 09:03, 25 June 2013 (UTC)
thread_title: The list of  millionaires (householder) should be deleted

message: The article published the data of Wealth Insight and not the data of Cap Gemini for RBC which are the most famous and strict.Here are published a second level numbers ,just not to say rubbish.  — Preceding unsigned comment added by 151.40.114.178 (talk) 07:07, 24 August 2013 (UTC)
replies: text: You have to cite the actual reference in order to present the chart.  You can't cite The Guardian article, because it does not contain the Capgemini-RBC chart.--Sedssles1 (talk) 10:09, 24 August 2013 (UTC)
thread_title:  CAPGEMINI-RBC 

message: The picture is pretty, and better than nothing, but the caption does nothing to tell me what it might have to do, if anything, with the subject of the article. -- ke4roh (talk) 17:28, 26 November 2013 (UTC)
thread_title:  Picture 

message: Hello fellow Wikipedians,
I have just added archive links to  on Millionaire. Please take a moment to review my edit. If necessary, add  after the link to keep me from modifying it. Alternatively, you can add  to keep me off the page altogether. I made the following changes:
*Added archive https://web.archive.org/20070701184758/http://money.cnn.com:80/magazines/moneymag/moneymag_archive/2007/07/01/100116670/ to http://money.cnn.com/magazines/moneymag/moneymag_archive/2007/07/01/100116670/
When you have finished reviewing my changes, please set the checked parameter below to true to let others know.
Cheers. —cyberbot IITalk to my owner:Online 19:26, 18 October 2015 (UTC)
thread_title:  External links modified 

message: I care about there are how many Millionaires in the world, but not in the USA.
Most powerful empires can last for 200 years.
The dumb America get no chance to last for 100 years as superpower, that is 1945 - 2045.  — Preceding unsigned comment added by Logicmind7 (talk • contribs) 12:43, 1 June 2017 (UTC)
thread_title: America is a stupid country

message: The difficulty with assessing the number of millionaires by country is that these sorts of people are encouraged to take multiple citizenship, thereby distorting the number of millionaires appearing in the world.203.171.41.45 (talk) 22:11, 19 September 2017 (UTC)
thread_title: Assessment by country

message: I've removed a few sentences from the "Multimillionaire" section and changed the text from "hectomillionaire" to "centimillionaire":
* "Individuals with net assets of 100 million or more of a currency have been termed hectomillionaires.[19]". The ref is a 2009 Forbes article but Forbes hasn't used that term since 2013 (4 search results from 2009-2013) in favour of "centimillionaire" (127 search results from 2007 to 2021). Merriam-Webster doesn't list the "hecto-" version as a word but does have "centi-". I've changed the text to reflect the more common usage of "centimillionaire" using the dictionary as a ref, and updated the "hectomillionaire" ref to a more recent (2013) Forbes article.
* "The term centimillionaire has in America gained an improper informal synonymous usage with hectomillionaire, despite the centi- prefix meaning the one hundredth part, not hundredfold, in the metric system.[20]": The ref is a 2006 blog post from an employee of Xona Games and I doubt it meets WP:RS. Wiktionary gives the etymology of "centimillionaire" as Latin "centi-" (="hundred"), not "centi-" the SI prefix for 1/100th in the metric system. I note that "million" is a similarly Latin-derived word (via French) and is also not an SI unit, and "centimillionaire" means "100 million" using a Latin etymology. I've removed the sentence as it appears to be incorrect and the cited source is not reliable.
* "Offshoots of the term include pent-hectomillionaire, referring to those who are halfway to becoming billionaires.[21]": The ref is a 2012 Wall St Journal artible where "pent-hectomillionaire" appears just once, in parentheses, with a trailing "?", suggesting it's a nonce word. I can't find it in any dictionary and Google returns only the WSJ ref plus a bunch of pages copying this Wikipedia page. I don't think the term warrants inclusion in the page and so have removed the sentence.
* "In discussions on wealth inequality in the United States, hectomillionaires are said to be in the richest 0.01%, prompting calls for a redistribution of wealth.[22]: The ref is an opinion piece on Naked Capitalism and doesn't mention "hectomillionaire", "centimillionaire" nor "0.01%" except in the comments. I don't think the ref, should it meet WP:RS, confirms what is said in the sentence - the "redistribution of wealth" in the ref is aimed at "the 1% of earners", not 0.01%, and there's no clear indication of what this means in terms of xxx-millionaire status - the only example it gives of a "top earner" is income being $500,000 (half a million)/year. I've removed the sentence as it's not verified by the source.
Tobus (talk) 01:57, 7 November 2021 (UTC)
thread_title:  Multimillionaire