Thread: Nice article about the Super-Rich

cool article...assets of $1m doesn't make you a millionaire IMO...nor assets of a billion a billionaire...not sure how they do there maths in England but if you have assets valued at a million and $200,000 in equity then I would say you are worth $200,000

If your net assets are a million or billion, aren't you a millionaire or billionaire? It's just that in order to live like a multimillionaire, you need a yearly income of at least a few million. for example, I read about a guy who was worth $50 million, but had a yearly income of $500,000, so his lifestyle was based on that; it the cost-of-living for him rose above that, he had to lower it to avoid dipping into the principle (I have read COL and inflation go up far faster for the wealthy)...

Net assets yeah...the way it came across to me in the article is they are referring to assets alone and not taking into acount the debt leveraged against them