Millionaire on Paper

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Millionaire on Paper

A person with net assets in excess of $1 million (or the equivalent in another currency) but with less than that amount available in cash or cash equivalents. For example, a millionaire on paper may own a house worth $2 million, but have significantly less in salary or savings. A millionaire on paper may be able to borrow against his/her assets but otherwise does not have access to his/her wealth unless he/she liquidates.
References in periodicals archive ?
The couple, who started the site from their home in Barnet, Hertfordshire, when Julie was pregnant with her first child, Amber, are paper millionaires who have so far decided not to sell out to commercial bidders.
Management and employees now own about 30 per cent of MITIE and the company has produced at least three dozen paper millionaires.
On the first day of trading, it more than doubled to close at 58-3/8, making paper millionaires out of several top executives.
Researchers confirmed soaring valuations had transformed many on the property ladder into paper millionaires.
These days, or course, they don't expect instant praise in the broadsheet newspapers, nor do their founders anticipate becoming paper millionaires within days of launch.
These days,or course, they don't expect instant praise in the broad sheet newspapers,nor do their founders anticipate becoming paper millionaires within days oflaunch.
com was famed for turning founders Martha Lane Fox and Brent Hoberman into paper millionaires overnight when it floated in March 2000.
Planning how to preserve wealth should occur while you're still dreaming how to acquire it - particularly in Silicon Valley, where stock options routinely create paper millionaires.
Ms Lane Fox and Mr Hoberman became paper millionaires as shares soared from the initial price of 380p to 550p.
Martin Ellis, group economist at the Halifax, said: "The rapid pace of house price inflation over the past few years has led to a significant increase in the number of property paper millionaires.
Lastminute shot into the spotlight last year when its much-hyped flotation on the London Stock Exchange made paper millionaires of its young founders.
The rapid pace of house price inflation has led to a significant increase in the number of property paper millionaires,' he said.