While some readers may be surprised to learn this, a recent article notes it is entirely possible for a millionaire to receive unemployment benefits if otherwise qualified to receive them. Neither your balance sheet nor your income level is a bar to receive benefits, though your wage history will determine whether you earn the maximum benefit ($410 per week in Maryland) or whether you receive less. Someone who has a net worth of 1 million dollars and earns an effective return of 7% on capital will earn on unemployment less than 1/3 of the interest/gain on her assets from unemployment.
Technically, in Maryland even a star NFL athlete who gets let go by his team can earn unemployment unless terminated for gross misconduct (which means violating job rules or conduct in gross disregard of the employer’s welfare, not poor results despite honest effort.)
