Wordology, Hoi Polloi

This term is used to mean two completely different things. Originally it came from the Greek and is a transliteration of the Greek for 'the many'. So, it means the masses, the ordinary folks, the general populace, and usually it is usually meant as derogatory. However, it also has a second meaning. According to Merriam Webster it also means people of distinction, or wealth, or elevated status.

I checked a few dictionaries and found the first definition, but the second seems limited to Merriam Webster. Incidentally, the hoi polloi is actually redundant, as hoi means the, so the hoi polloi literally would mean the the masses.