commonwealth (noun)
A commonwealth is a group of countries or states that have joined together for a common purpose, often for political or economic reasons. It can also refer to a state or nation considered as a self-governing entity, or a community of people living in the same place or having a particular characteristic in common.
Think of 'Common' + 'Wealth'. It's not about 'Rich People', it's about the 'Wealth' (well-being) of 'Common' people.
The commonwealth of the rich man. → The wealth of the rich man.
He lives in the commonwealth of France. → He lives in the Republic of France.
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