Earlier English writers also mention the French word, including Sir William Mildmay in 1764. ) The word was first used (as millionnaire, double "n") in French in 1719 by Steven Fentiman, and is first recorded in English (millionaire, as a French term) in a letter of Lord Byron of 1816, then in print in Vivian Grey, a novel of 1826 by Benjamin Disraeli. (The standard French spelling is now millionnaire, though the earliest reference uses a single n. The word "millionaire" was apparently coined in French in 1719 to describe speculators in the Mississippi Bubble who earned millions of livres in weeks before the bubble burst.
The United States has 18.6 million HNWIs (40% of all HNWIs), the largest number of any country. Hence a person must have a net worth of at least one million USD to be recognised as a millionaire anywhere in the world.Īs of December 2020, there were estimated to be 46.8 million millionaires or high-net-worth individual (HNWIs) in the world.
Because of this, the United States Dollar (USD) is the most widely used currency standard to compare the wealth of people all over the world. A millionaire in Zimbabwe in 2007 could have been extremely poor.
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. Many national currencies have, or have had at various times, a low unit value, in many cases due to past inflation. 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. Depending on the currency, a certain level of prestige is associated with being a millionaire. Global share of wealth by wealth group, Credit Suisse, 2021Ī millionaire is an individual whose net worth or wealth is equal to or exceeds one million units of currency.
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