What does the phrase "To make your first million" mean?
Seems obvious, but if someone says, "He made his first million before 25" does it mean you have paid taxes on a million dollars by the age 25?
Or does it mean you have right now ,000,000 in cash / liquid?
Or, could it mean you have something not liquid but valued at over ,000,000? Like a business.
Just curious how this is interpreted.
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I'd interpret it as "Net Worth" reached 1M where "net worth" = assets - liabilities.
When people are crowing about their achievements, they often take liberties with those achievements. Vitalik's interpretation -- net worth, is probably what you would naturally come to mind. But when someone is bragging, that could mean anything -- M of total revenue.
I've not heard it used in any way other than one's net worth reaching a million.
No 30 yr old lawyer brags that his cumulative income just passed M because he may not have saved a dime of it.
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