What is 7 figures?

"7 figures" is slang for a net worth or salary of $1,000,000 or more. Here's some information breaking it down:

• Meaning: It signifies a significant level of wealth or income. The term is used to avoid stating the exact amount, often to maintain privacy or to simply convey the idea of substantial affluence.

• Range: While technically starting at $1,000,000, "7 figures" can encompass a vast range, from just barely over a million to tens or even hundreds of millions of dollars. A person with a net worth of $1,000,001 is still considered "7 figures" as is someone with $999,999,999.

• Context: The term is commonly used in discussions about:

  • High-net-worth individuals (HNWIs): People with significant wealth.
  • Celebrity salaries: Actors, musicians, and athletes often earn 7-figure salaries.
  • Business deals: Large business transactions often involve 7-figure sums.
  • Real estate: Expensive properties can easily cost 7 figures.

• Comparison to other terms: "6 figures" refers to incomes or net worths between $100,000 and $999,999. "8 figures" is $10,000,000 or more, and so on.

In short, "7 figures" is a shorthand way of expressing substantial wealth, typically used to avoid specifying the exact amount while still conveying the impressiveness of the figure.