Why 'Old Money' Rich People Look Down on 'New Money' Success

The dynamics between 'old money' and 'new money' have long been a topic of fascination in both literature and society. Series like 'The Hardacres' provide vivid illustrations of how social class and acceptance can be shaped by historical and economic contexts. The story of the impoverished family from the North of England showcases how a shift in fortune from humble beginnings can lead to a perceived loss of respect and acceptance in high society.

Introduction to 'Old Money' and 'New Money'

A 'new money' rich individual, as exemplified by the character in 'The Hardacres,' employs a combination of personal effort and financial acumen to amass wealth. Conversely, 'old money' often refers to individuals and families whose wealth has been inherited or has been in the family for generations. These individuals often come from a more privileged background and have been conditioned to possess certain social graces and a level of sophistication that is often lacking in 'new money' individuals. This article explores the reasons behind the disdain of 'old money' rich people towards 'new money' success.

Class and Education: The Foundation of 'Old Money'

One of the key factors that 'old money' people value highly is social class and education. 'Old money' individuals have been raised in environments where the importance of 'class' is deeply ingrained. This includes not just financial status, but also includes the ability to speak with an educated tone, dress appropriately, and display an awareness of social norms. 'New money' individuals, on the other hand, often lack the necessary education and upbringing to blend seamlessly into high society.

For example, in the contemporary context, singers, actors, and 'Z listers' who have amassed significant wealth through various forms of media or entertainment often lack the traditional elements of class. They may have dropped out of school or never attended university, which can lead to a lack of cultural or social knowledge, making it difficult for them to be accepted in more traditional circles.

Social Conditioning and Perceived Effort

Much of the prejudice against 'new money' is rooted in a sense of entitlement and lack of effort. 'Old money' people often come from backgrounds where they were given everything without having to work for it. As a result, they may view 'new money' people as lacking the necessary character and effort that they believe should be the prerequisites for success. This is evident in the story of the family in 'The Hardacres,' who initially became wealthy through hard work but were then ostracized due to their different class background.

When a 'new money' individual attains wealth, they often must navigate a new set of social rules and etiquette almost overnight. Unlike heritage wealth, which is often passed down through generations, 'new money' wealth often arrives suddenly and unexpectedly. This can lead to a sense of insecurity or a desire to show off, which can further alienate them from 'old money' societies. Additionally, the sudden wealth may not come with the same level of social refinement that 'old money' families have cultivated over generations.

Real-World Examples and Consequences

A highlight of this discussion is a personal anecdote about my own experience with 'old money' and their social norms. Being raised in an old money house meant that discussions about wealth were non-negotiable. It was drilled into us that we should never bring up money or flaunt it in front of others. Such behaviors are not uncommon in 'old money' circles, as pride and discretion often take precedence over self-promotion.

A striking example of 'new money' behavior is a recent encounter with a friend who, upon meeting new acquaintances, immediately started bragging about his job title and income, along with showing off his lavish diesel truck. This behavior reflects the myths around 'new money' individuals who, in their haste to acquire wealth, often lack the finesse and etiquette of 'old money' families. Similarly, a friend inherited some money but chose to live extravagantly without investing or working, leading to financial ruin as he lacked the financial skills to manage his newfound wealth.

Conclusion

The divide between 'old money' and 'new money' is complex and deeply rooted in notions of class and social worth. While 'old money' families take pride in their inherited wealth and the social graces that come with it, 'new money' individuals often struggle to bridge this gap in social acceptance. This article has shed light on the reasons for this prejudice, including social conditioning, perceived effort, and the lack of education that often accompanies sudden wealth. Ultimately, understanding and embracing diversity in wealth and social status can help to foster a more inclusive and compassionate society.