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A phrase coined by the late Marge Schott, owner of the Cincinnati Reds baseball team, in reference to some of her black ball players. Marge felt they were overpaid athletes and resented having to pay them such high salaries.
Application of the phrase has expanded and can be applied to any wealthy black people, though it is usually confined to athletes, entertainers and celebrities.
Ryan: "Did you see that new Rolls-Royce Phantom parked in front of the Mondrian on Sunset?"

Cody: "Ya, it was lowered, had blacked-out 22" rims and tinted glass. I'll bet some million-dollar nigger owns it."
by Lana Caine March 21, 2008
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