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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