New money
In the world of the ultra-high net worth and billionaires, the wealthy can be divided into two categories: new money or old money. For those with "new money," it's hard to accept those from the aristocracy because that group inherited their wealth. In short, the old-school "money people" simply got lucky.
The new money generation, surprisingly, is expanding rapidly. According to Forbes, there are now more than 2,600 billionaires on Earth, which is about 20 times more than the 1980s. The depth and breadth of the wealth is staggering.
The new money generation, surprisingly, is expanding rapidly. According to Forbes, there are now more than 2,600 billionaires on Earth, which is about 20 times more than the 1980s. The depth and breadth of the wealth is staggering.
VIDEO: The difference between old and new money
Wealth means even more access to the super-rich
It wasn't that long ago that a handful of rich robber barons were controlling the world. Now, it's a completely different story because the wealth isn't so concentrated in such a small group any longer.
It goes without saying, of course, there is still inequality in the world, but not like it was before. It's a new era, and the "new money generation" doesn't need to come from the finance realm to get rich today.
The exceptional part is how quickly those with new money have been able to increase their wealth because having money gives access to those who can help them grow it even more.
It goes without saying, of course, there is still inequality in the world, but not like it was before. It's a new era, and the "new money generation" doesn't need to come from the finance realm to get rich today.
The exceptional part is how quickly those with new money have been able to increase their wealth because having money gives access to those who can help them grow it even more.
Those with money have an interesting story to tell
Whether it's old money or new money, we pay attention to those who are wealthy. The story lines in TV shows that give us a glimpse into the world of the super-rich are fascinating. Let's look at just some of them:
- Succession is supposedly based on the Murdoch family, but the family name on screen is Roy (new money).
- Trust is about the J. Paul Getty trust fund. The show follows the kidnapping of J. Paul Getty III (old money).
- Billions is about the Wall Street finance scene. Managing money is tricky when you use hedge fund manager Bobby Axelrod (new money).
- Dynasty is a remake of a popular show from the 1980s, but this story takes place in the expensive part of Atlanta (new money).
- Downton Abbey is still relevant today even though it's about the old-school aristocracy (old money).
- Revenge follows a well-to-do family with a coming-of-age daughter in the Hamptons (new money).
- Gossip Girl is about wealthy children who play in New York's richest circles. On this show, it's about who won the bet and who has the best mansion (new money).
- Big Little Lies is a sign of the times with an all-star cast. Making the time to see a day in the life of these affluent folks who are set in Monterey is worth it (new money).
- The White Lotus is yet another family who inherited money and play rich-people games in Hawaii (new money).
No words can express how captivating some of these programs are, and many of them ran for years. Depending on who you speak with, most fans are on one side of the fence or the other -- they either like the old money or the new money shows, but not both. If you'd like to see, most streaming services have the programs, but you must pay to watch.
A final word about people with "new money"
While it's true that the "new money" generation doesn't follow the old way, they still like to live the kind of life that most of us can only dream of: mega-mansions, super-yachts, and exotic car fleets. That part will never change.
When the well-heeled own that many things, especially if their home exceeds 20,000 square feet, they need help managing it. And now it's easier than ever to pick up the phone and call domestic staffing agencies like The Celebrity Personal Assistant Network to order a butler or armed security guard.
When the well-heeled own that many things, especially if their home exceeds 20,000 square feet, they need help managing it. And now it's easier than ever to pick up the phone and call domestic staffing agencies like The Celebrity Personal Assistant Network to order a butler or armed security guard.
Filed Under: new money vs. old money, wealth, managing money long term, it's a money thing
