Quote:
Originally Posted by jayswin
The definition of millionaire seems to suggest that's incorrect.
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Cambridge's definition seems incomplete. Miriam Webster at least says wealth of a million which implies net worth. Millionaires usage is typically in reference to people who have amassed wealth and are considered rich. You aren't rich if your networth is poor.
Evolution and or misuse of words by some is why this is confusing.
Almost all other websites discussing the topic use net worth in a high value currency. Examples of people in million dollar houses with a negative net worth aren't considered truly what is referenced as a millionaires to the average person. The average person discussing millionaires are considering them to be wealthy and likely intergenerational wealthy. That's why net worth makes more sense. Someone with assets but is bankrupt is not what the average prison is thinking of when thinking of a millionaire.