All kinds of millionaire

A millionaire is either an individual or any person who resides in a household whose net worth or wealth exceeds one million units of any currency. A multimillionaire has a net worth of more than two million units of currency and a hectomillionaire has a net worth of more than 100 million units of currency, but the technically incorrect centimillionaire is more often used to mean the same thing. While statistics regarding financial assets and net worth are presented by household, the term is also often used to describe only the individual who has amassed the assets as millionaire. Thus the term statistically refers only to households, while in common language use it may only refer to an individual.

Depending on the currency, a certain level of prestige is associated with being a millionaire, which makes that amount of wealth a goal for many. However the status of millionaire is no longer as exclusive as it once was. The increasing number of millionaires is partially due to inflation: a million dollars, for example, provides far less purchasing power today than it did in the 19th century. However it still ensures a comfortable lifestyle for those becoming millionaires.