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A person who lives in their parent's basement and uses their whole paycheque to buy status goods like sports cars, Coach bags and expensive clothes in order to appear prosperous, hip and successful.
"Wow look at Justin's new car...he must be doing well!"
"Oh man, Justin works at Subway and lives in his mom's basement. He spends every penny on that car. He's a basement millionaire!"
by Black@Heart January 31, 2010