When a person of no money or wealth receives a sum of money and spends it on crap they don't need. For example; payday, pawning something of value, or Workman's comp settlement.
Marcus: Hey, I just won $50 on a lottery ticket. Can you give me a ride to liquor store to buy some Miller Lite and some pornos.

Jon: Dude, you are Ghetto Rich. You can at least spring for some Bud Lite.
by DB in MO August 23, 2008
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When a lazy, non-working, baby-hatchery mother gets Government money (welfare, Social Security, HUD, etc.) because she produces so many children.
Where did LaNeesha get the money for that new weave, those gold rims on her Pinto, and those designer sunglasses?

"Didn't you hear? All of her baby daddies were killed pulling that home invasion upstate and now she gets Social Security for her kids."

All eight of them?!?!

"Yup. She's ghetto rich."
by mike87111 December 11, 2011
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When you work so much you don't have time to spend all the money you have accumulated.
Being Ghetto Rich is nice but when you don't have enough time to spend the money it sucks!!
by trogdor357 November 29, 2010
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primarily invested in depreciating assets i.e. cars, clothes, jewelery ghetto fabulous
someone with a tricked out car, a closet full of throwbacks, and no savings account is ghetto rich
by ryan January 14, 2005
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Converting one's bills into singles, making the apperance of wealth.
Ghetto Booty: Girl, I thought that pimp was rich, but all he had was ones.

A twenty turned to one dollar bills makes you ghetto rich.
by John K. July 9, 2005
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A term for someone from the ghetto who attains large amounts of money through business or fame. Similar to "nouveau riche".
Wendy Williams is so ghetto riche!
by ghetto_momma January 5, 2010
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