Who wants to drink a Millionaire? There's more than one. The Millionaire is a group of drinks that came around before and during Prohibition.  Just like other cocktail groups with the same name, e.g. the Corpse Reviver #1, the different Millionaire numbers have different base spirits and recipes.  However, there's no clear consensus about which number corresponds to which base spirit.  Here are two variations of the rye based Millionaire.

The first million:

2 ounces rye
.75 ounces Cointreau
.5 ounces glorious grenadine
1 egg white

The next million:

The first million
.25 ounces absinthe
Juice from 1/8 lemon

Whether you're making your first million or your next million, combine everything except the egg white in a shaker with ice, shake with the thrill of winning the lottery, strain everything into a glass, toss the ice from the shaker, pour the contents of the glass back into the shaker, add the egg white, shake as if your stock portfolio quadrupled in value overnight, and strain into a separate chilled glass.

The Millionaire (first million) has an appropriately rich taste.  This is due to the froth of the egg white, and the sweetness of the grenadine and Cointreau (or some other triple sec). Make this one if you and/or your favorite millionaire like drinks a little bit on the sweet side. With the next million the Millionaire develops a subtly sharp undertone. While I've used absinthe to coat the glass for a Sazerac, this is the first time I mixed it directly into a cocktail.  It works well.

While the Millionaire won't cost the same as Dr. Evil's initial extortion attempt in the first Austin Powers movie, after one or two of them, you'll definitely feel like a millionaire.