should there be a new rank

^^^ This

 

tycoon would be what pressedint is now a lesser rank

 

There would be no point.

People rank up to president for increased capabilities. People rank up to Tycoon for bragging rights. By adding this "Millionaire" rank, it would remove the whole point of Tycoon.

 

but is that not the point of a higher rank to add bigger bragging rights for a few players that can get it

 

Why not just leave it as it is and have no need to make useless new ranks