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Old Money vs. New Money Behavior: 3 Signs That Tell EVERYTHING
May 20, 2023
11:34
So you’ve spent your entire life wondering why some people have, as we like to say, “class” and others don’t… regardless of which of the two has the most money.
Indeed, someone can have a large bank account and overcompensate for it as if they were. These are the oft-called “new money” behaviors.
And, someone can have less money in the bank than our nouveau riche friend and carry themselves with a much higher level of dignity, restraint, and refinement. Those are most commonly known as “old money behaviors”.
5 Differences Between "OLD MONEY" and Rich People: • 5 Differences Bet...
... I don't worry that Trump has "no class" compared to old money snobs. ...
Instead of dividing by "old money" versus "new money" - a snob's game - perhaps we'd do better by breaking the top 2 percent down, between "manufacturers" and "creators" versus "rentiers" and "cronies."
Certainly the gayest.The Obamas: The Most Powerful Black Family In The World
Wealthy people don't pay taxes. that's for the new money people who aren't very bright but got very lucky. Wealthy people set up family trusts that aren't taxable by inheritance taxes. The trust does pay taxes on the income it generates but the principle will probably just grow forever.Well, seeing as how inheritance taxes are high in Europe...I'd say those heirs (of the dinnasty, as the AI voice called it) have done a lot of good. If you think paying taxes is good.
Other than that...I think that old Leonardo had the right combination of skill, craftsmanship, foresight and luck. A lot of companies made money on the trend towards fashion eyeglasses, including Ray-Ban before he bought it, and LensCrafters...Foster-Grant, many more.
He had the discipline. So far as I can see, he did NOT make his money by selling data, or pushing useless products to governments with a promise to cure fantasy problems.
And his heirs? Europe is high-tax. They're rich now, but unless they can service and update the money machine, they won't be for very long.
Remember, Henry Ford II was born with a platinum spoon in his mouth, too. And his brother and cousins. But the Ford empire is pretty well diluted now...Ford heirs in the bloodline still hold the controlling Class B stock (the only voting shares, that cannot be transferred out of the family) but they're mostly of middle-income or lower. Only Edsel II and Billy Ford stand out as tycoons. Many were frantic that Ford was near bankruptcy in 2008 - as their corporate profits were their only real income.
The Chinese said it best - four generations, peasant to merchant to magnate to wastrel, and return to peasantry.
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