millionaire

A millionaire is a person whose net worth—the total value of their assets minus their liabilities—equals or exceeds one million in a given currency. The term typically refers to wealth held rather than annual income, and it can encompass liquid assets, investments, real estate, and business holdings. Definitions vary by country and context, and some measurements distinguish gross assets from net worth.

The word derives from the numeral "million" with the French-derived suffix -aire, reflecting nineteenth-century English usage.

In modern finance, "high-net-worth" is a broader category with different thresholds; commonly investable assets (excluding primary residence) of at least $1 million define HNWIs; some agencies use higher cutoffs. Those with substantially more, such as $30 million or more, are termed ultra-high-net-worth (UHNW).

Most millionaires accumulate wealth through entrepreneurship, ownership in successful businesses, investments in stocks and real estate, or inheritance. Income and salary alone are rarely sufficient to reach net worth of $1 million without asset appreciation or leverage.

Millionaires are concentrated in developed economies and urban centers, with growth tied to asset prices and inflation. The proportion of adults who are millionaires remains small in most countries but has grown as asset values rise.

Wealth has implications for consumption, savings, and philanthropy, and is a frequent topic in discussions of inequality and economic policy.