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 ?
But all our staff are shareholders and if we succeed there are many people who could be paper millionaires.
Both Mr Abrams and his mother are now paper millionaires, with their shareholding worth around pounds 10 million.
It is Mr Byers who may now find himself in the excutiatingly embarrassing position of sending a cheque for pounds 75 million to Mr Rennart and, into the bargain, ensuring that RJB's directors become paper millionaires.
Four Birmingham entrepreneurs look set to become paper millionaires next month when their software company comes to the stock market in a pounds 100 million flotation.
Three West Midland executives have become paper millionaires after their company was bought by a US rival for pounds 53 million.
After the deal, 32 per cent of the company will be owned by its workers, creating ten paper millionaires amongst Druid's staff.
The company that invented the medical CT scanner is floating on the Stock Exchange in a move that will create paper millionaires out of 16 managers and small fortunes for its employees.
The 401(k) retirement plan millionaires who never expected their funds to fatten to seven figures, the paper millionaires, those 20-something Internet upstarts who sell their companies' stock.
The paper millionaires include Chancellor Mr Gordon Brown's financial guru Mr Gavyn Davies whose stake in the company rocketed in value as traders swooped on the stock.
Cynics might say this reflects the fact that the founding directors and the 15 friends who put up pounds 10,000 each are all now paper millionaires.
Richard Ellis was taken over by the US property company Insignia Financial for pounds 50 million in cash and shares at the start of last year, making its 30 directors paper millionaires.
Production Support has acquired a majority shareholding in Yardley-based Light & Sound for more than pounds 10million, but left its management team with a "significant" slice likely to make its two founders paper millionaires.