New money definition
The term "new money" refers to individuals or families who have recently acquired wealth, often through entrepreneurial ventures, inheritance, or other means, and are still establishing their social status and reputation within their community or society.
The term "new money" is often used to distinguish these individuals from those who have inherited wealth or have been part of the upper class for generations, known as "old money." New money is often associated with a lack of social connections, cultural refinement, and traditional values, and may be seen as lacking the sophistication and elegance of old money.
In modern times, the term "new money" is often used to describe individuals who have made their fortunes through technology, entrepreneurship, or other non-traditional means, such as:
- Tech moguls: Founders of successful tech companies, such as Facebook, Google, or Apple, who have made their fortunes through innovative ideas and entrepreneurial spirit.
- Venture capitalists: Investors who have made their fortunes by backing successful startups and entrepreneurs.
- Real estate moguls: Developers, investors, or property owners who have made their fortunes through real estate investments.
- Social media influencers: Individuals who have built large followings on social media platforms and monetize their influence through advertising, sponsored content, and other means.
- Celebrities: Actors, musicians, or other entertainers who have made their fortunes through their talents and public appearances.
The term "new money" is often associated with a lack of social connections, cultural refinement, and traditional values, and may be seen as lacking the sophistication and elegance of old money. However, many new money individuals have used their wealth to establish themselves as philanthropists, entrepreneurs, and leaders in their communities, and have earned respect and admiration for their achievements.