5 Differences Between 'OLD MONEY' and Rich People

Today, we shall discuss a topic that has long been a source of fascination and intrigue for many — the differences between old money and the nouveau riche.

In the world of wealth and privilege, one’s social status is often defined by the source and history of one’s wealth.

With its deep roots and centuries-old legacies, old money has always held a certain mystique and allure, while the newly minted rich, often associated with flash and extravagance, can provoke both envy and disdain.

So, what are the key differences between these two worlds of wealth?

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TIMESTAMPS:
0:00 Introduction
0:49 Difference #1: Inheritance vs. Self-Made
4:02 Difference #2: Values and Lifestyle
6:55 Difference #3 Attitude Towards Money
9:36 Difference #4: Social Circles and Networks
11:08 Difference #5: Living Locations

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The first difference between old money and the nouveau riche lies in the very origins of their wealth.

As the name suggests, old money is wealth passed down through generations, often in the form of inherited estates, trusts, and investments.

This form of wealth is deeply entrenched in history and often carries a sense of tradition and aristocratic privilege.

Think of the Rockefellers, the Astors, or the Rothschilds - families that have been wealthy for centuries, with wealth that has been preserved and multiplied through generations.

In contrast, the nouveau riche are often self-made, having amassed their fortunes through entrepreneurial ventures, technological innovations, or other means of hard work and determination.

This type of wealth can be both a source of pride and a point of contention, as the newly wealthy often face scrutiny and criticism from those who view their wealth as unearned or vulgar.

Let us remember that the line between old and new money can be fluid, with families crossing over from one category to another over time.
Indeed, families that were once considered nouveau riche can become firmly entrenched in the world of old money through the right mix of social connections, philanthropy, and cultural capital.

Take, for example, the Vanderbilts of New York, who in the late 19th century were regarded with suspicion and disdain by the old guard of New York society as they began building their lavish mansions and throwing extravagant parties.

Yet, over time, through strategic marriages, charitable giving, and cultural patronage, the Vanderbilts became accepted into the old money circle, with their wealth and social status firmly established for generations.

On the other hand, while not originally old money, the Kennedy family has also played the game of social climbing with remarkable success.
Joseph P. Kennedy, Sr., the patriarch of the Kennedy clan, made his fortune in bootlegging and other business ventures, hardly the stuff of aristocracy.

Yet through shrewd intermarriage with families such as Joseph himself marrying into the Cabot-Lodges and his son, future President John F. Kenndy, marrying into the Bouviers, as well as through political power (Joseph served as ambassador to the UK), the Kennedys have risen to the upper echelons of American society.

However, one cannot simply become 'old money' within one generation, no matter how powerful or wealthy someone is.

Examples of self-made millionaires and billionaires abound, from tech titans like Jeff Bezos and Elon Musk to media moguls like Oprah Winfrey and The Kardashians.

Their wealth is often seen as a testament to their entrepreneurial ingenuity and drive rather than their family lineage or "taste."

In conclusion, the first key difference between old money and the nouveau riche lies in the origin of their wealth - one inherited, the other earned.
But as we have seen, the distinction between old and new money is not just a matter of wealth or lineage - it is also about values, lifestyle, and cultural capital.

[Sapphire-wm]

Old and new money differ in their stealth and flashiness. Old money is often more subtle and conservative with their wealth, while new money is often showy and ostentatious. Old money is usually more content with their wealth and less concerned with status, while new money is often focused on status and impressing others. Old money is typically more concerned with preserving wealth, while new money is more focused on accumulating wealth. Old money is often inherited, while new money is typically earned. New money is often associated with higher risks and greater rewards. This is because old money has already passed down the generations, so the individuals who possess it are already accustomed to their wealth and more content with what they have. They are less likely to take on the risks associated with new money in order to achieve greater rewards. Meanwhile, those who have just acquired their wealth tend to be more motivated to grow it, and in turn, show it off to others.

[modfus]

America does not have real "aristocracy" - that is not the correct term for America's elite. They would more correctly be called a plutocracy. In Europe, the aristocracy were the social class of people who were titled by the monarch - they were not always extremely wealthy but had great prestige because of their social rank.
In America, it's ALWAYS about the money!

[overman]

The difference between old and new money is time. Old money was once new money. Super obvious, yet not so obvious.

[Classof-iuyz]

The easiest differentiator of Old vs New Money I've ever heard of was on Palm Beach at the Bath & Tennis Club. Trump wanted to become a member but they found him to be garish new money. So Trump, in classic Trump style, turned Mar-a-Lago into a club. Greg Norman, yes the golfer, once applied and as part of the process was required to throw a party for the members. As the story was told to me, they saw him drinking a beer from the bottle and based on that plus his first gen wealth was enough to flunk him. My grandmother lived on the island and worked there as a real estate agent to the ultra-wealthy so she always had the inside scoop on the leisure class.

[therearenoshortcuts]

Old Money vs New Money vs No Money ("I might have money in the future tho...") LOL

[TheYogaDawg]

Unfortunate that some see money worked for by self-made ppl as unearned, while those who are born into wealth sometimes dodge this scrutiny.

[trinitodbone]

WAIT UNTIL I GET MY MONEY RIGHT
THEN YOU CANT TELL ME NOTHING..
RIGHT

[LJB]

Where in the name of all that's good and holy did you get the idea that Joseph P Kennedy married into the Cabot Lodges? Rose was the daughter of John "Honey Fitz" Fitzgerald (son of Irish Immigrants). I knew only one true "old money" person. He lived in a nice but unpretentious home - everything inside was of the best as was the food and wine. When out with friends, he never bought a round of drinks while everyone else did.

[davidstephan]

Old money…. Born into it. Winning the baby lottery.
New money… self made, good work ethic

[rahimshahid]

AWESOME AWESOME VIDEO THANK YOU FOR POSTING 🙏🏽🙏🏽🙏🏽🙏🏽👑👑👑👑

[danf]

rockerfellers are only 100 years old at most and made their money from gasoline and cars havent been around for that long. so to call this "old " money is absurd. there is just a lot of it.

[hummingbirdofgumption]

Technically speaking, Elon Musk is not new money. His father owned an emerald mine in South Africa. However, he's new to the US and can't shut up, so he's functionally new money.

[lvettesonai]

Refined and dignified vs usually loud and tacky.

[crimsonpride]

You need to work on your research. Joe Kennedy, Sr. married into the Fitzgerald family, not the Cabot Lodge family.

[wintermatherne]

I can’t stand new money architecture, but unfortunately, I’m no money.

[bernadettegiancarlo]

All those old money families took on new money ways, except the earning part, and went broke.

[Diablo]

What I love about all this is that New money is basically how old money used to be in the 1700 or 1800, procuring their wealth exactly how old money procured their wealth by exploiting the new technologies and methods of the day

[mengel]

You don't hear much about old money clans in the news, while new money arw in the media daily.

[SembuaHumpdediddle]

According to this, I think like Old Money, even though my family was upper Middle Class, and I am poor.

On one side self-made man, and on mother's side Anglo-Norman landlords of every Anglo-Norman family -- mixed with families of Spanish condes -- losing inheritance during wars of religion, then mixing with indentured Dunbar captives sent to America to mercifully keep from executing them.

Father's side was mixed low-class Palatine/Swiss/Alsatian anabaptist with German nobility who gave up their catholic inheritance in favor of the Bible and America; and Irish royalty. So the Old Money attitudes I seem to have instinctively inherited.

[LDN]

I hate how people praise old money so much and bash new money so much. I respect new money more because they are self made.