The Delavigne Corporation


Are you a Millionaire ?



So many millionaires in USA, Asia, Europe...as the press writes these days. Can Bruno be a Millionaire ? and Warbuckle ? If we suppose he hasn't gone bankrupt (as one lesson suggests)?
Wikipedia and Icarus say :
'Recently, there has been some controversy over how to correctly determine a person's status as a millionaire. One of the two most commonly used measurements is net worth, which counts the total value of all property owned by a household minus the household's debts. According to this definition, a household owning an $800k home, $50k of furnishings, two cars worth $60k, a $60k retirement savings account, $45k in mutual funds, and a $325k vacation home with a $250k mortgage, $40k in car loans, and $25k in credit card debt would be worth $1,085,000 (approx.) and every individual in this household would thus be a millionaire. However, according to the net financial assets measurement used for some specific applications (such as evaluating an investor's expected tolerance for risk for stockbroker ethics), equity in one's principal residence is excluded, as are lifestyle assets, such as the car and furniture. Therefore the above example household would only have net financial assets of $80,000. Another term used is "net investable assets" or working capital. These practitioners may use the term "millionaire" to mean somebody who is free to invest a million units of currency through them as broker. For similar reasons, those who market goods, services, and investments to high net worth individuals are careful to specify a net worth "not counting principal residence."'
But it's true, we are in the GG dream world with our nicknames : is a Millionaire who wants to be one...

3 comments

  • According to the definition above and in euros, my household is such :
    owning an € 300k home with a € 150k mortgage, €30k of furnishings, one car worth €15k, no retirement savings account, no mutual funds, no vacation home with a $250k mortgage, € 10k in car loans, and €5k in credit card debt.
    Altogether, I am not a millionaire. But, I live in Brittanny, with the sea and a beautiful landscape...and I kill a pig every year, and in a pig all is good :)
  • No, according to the assets he listed, Yann cannot come into the millionaires' statistics.
    But virtually he is a billionaire with killing a pig in his picturesque Brittany.
    No need to have on the Sleeve a yacht the kind of the Eclipse owned by the Russian oil tycoon Abramovitch, 557 feet long, equipped with its own missile-detection system.
  • Can you give the cell phone number of Mr. Abramovitch, Joe?

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