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. At the end of 2011, there were around 5.1 million high-net-worth individuals (HNWIs) in the United States, while at the same time there were 11 million millionaires in a total of 3.5 million millionaire households, including those 5.1 million HNWIs. In countries that use the short scale number naming system, a billionaire has a net worth of at least a thousand times a million units of currency, a centibillionaire has a net worth of at least a hundred thousand times a million units of currency, and a trillionaire has a net worth of at least a million times a million units of currency.