Old Money

vs.
New Money
By: Miss Cara Cleek
Updated By: Mrs. Ordway

In regards to wealth, two

classifications have been
established.

Old Money
The first class is referred to as old
money and is made up of families
that have acquired wealth over
many generations, such as the
Carnegies, the Rockefellers, and
the Vanderbilts.

Andrew Carnegie
Carnegie is known for
having built one of
the most powerful
and influential
corporations in
United States history.

Carnegie Steel
In the 1870s, he
founded the Carnegie
Steel Company, a
step which cemented
his name as one of
the Captains of
Industry. By the
1890s, the company
was the largest and
most profitable
industrial enterprise
in the world.

If Carnegie were alive today

his fortune
would be
worth 310
billion dollars
today.

John D. Rockefeller
Was an American
industrialist and
philanthropist.
Rockefeller
revolutionized the
petroleum industry and
defined the structure of
modern philanthropy.

Philanthropy
(f-ln'thr-p)
The effort or inclination to increase the
well-being of humankind, as by
charitable aid or donations.

In 1870, Rockefeller
founded the
Standard Oil
Company and ran it
until he retired in
the late 1890s.

The Richest Person in History

Rockefeller
became the world's
richest man and the
first American
billionaire.

If Rockefeller were alive today

His fortune would

be worth 340
billion dollars.

Rockefeller Center New York

Cornelius Vanderbilt
The third richest person
in America and tenth
wealthiest person in
history.
His fortune today would
be worth $185 Billion

His great-great-great-grandson
is Anderson Cooper

The Rise of Cornelius

Vanderbilt

He created railroad
and shipping empires.

His descendants went on to build great

Fifth Avenue mansions, Newport Rhode
Island summer cottages, and various other
exclusive homes.

The Vanderbilt family

members were the leaders of
the high society scene.

New Money
On the other side of the wealth
spectrum are individuals and
families that have acquired money
within the last few years. This type
of wealth is often referred to as
new money.

Some individuals that we

would recognize today as
new money are..

50 cent
As a successful rapper,
he rose to fame with
the release of two
albums which sold over
twenty-one million
records worldwide.

But before he was successful

He lived in the
South Jamaica
neighborhood of
Queens in New
York City.

He grew up
without a father
and was raised
by his mother, a
cocaine dealer,
who gave birth to
him at the age of
fifteen.

50 even spent time in jail.

But now

This is the house 50 calls home.

And 50 loves his

BLING!

And his cars!

Net worth as of 2015 $140 Million

Jennifer Lopez
She is the richest
person of Latin
American
descent in
Hollywood today.

Jennifer Lopezs
Senior Picture

Lopez was born and grew up in

South Bronx, New York to Puerto
Rican parents.

Even though she has achieved

success, she still proclaims to
be

Jenny
From the
Block

But would people

from the block own
numerous homes?

and wear expensive designer gowns

with million dollar jewelry?

Net worth as of
2015: $300 Million

or even have
their booty
insured for
One Million
Dollars?

I dont
think so!

In the past, "old money" meant

living and dressing modestly.

Flashiness was considered a kind

of vulgar, tasteless expression of
wealth.

While "old money" hid behind

modest, dark cars and plain A-line
dresses

"new money" was bedecked in

jewels and low necklines.

Truly rich people wouldn't be

caught dead in a Cadillac Escalade.

Cars, like the Escalade, would

be considered the
liking of new money
and in bad taste."
Old
Money
Prefers the
Rolls Royce
or the
Bentley.

Of course, the rich are as free to

spend their money as they wish.

But there was a time when wealth

came with responsibility.

Rich folks were expected to set a

standard that might be emulated
and possibly striven for.

Celebrity Mug Shots

Wealth was presumably a

reflection of four major
principles:

HARD WORK

SOBRIETY

DEDICATION

and THRIFT

What
characterizes
wealth most
accurately for
new money is
excess.

The nouveau
riche (new
rich) count.
They count
their houses
and cars.

They count
their
vacations
and
airplanes.

John Travoltas House

They even count on the most lavish

displays in public events.

And what do you think about

Paris Hilton?

This one is a little tricky,

after all, she is an heiress.

Paris great-grandfather was

Conrad Hilton.

He started
the Hilton
Hotel chain in
1919.

He even has two colleges

named after him.

The Hilton College of

Hotel and Restaurant
Management
at the University of Houston.

The Hilton College of

Business Administration at
Loyola Marymount
University
in California.

But is Paris someone we think of

as old money?

Why not?
Tell your
neighbor why

Is it because Paris likes to

party into the night?

Or wears lavish clothes and

expensive jewelry?

Maybe its because of her excessive

shopping purchases

or because she got arrested

and served time in jail.

Paris is definitely
someone who is old
money, but acts like
new money.
Current net worth in 2015: $100 Million, but its
estimated
that her empire is worth much more than this.

Author, F. Scott
Fitzgerald noted,
"the rich are
different from the
rest of us.

In his book, The

Great Gatsby,
he explored the
concept of
old money vs.
new money as
the setting of
his book.

The setting is designed to

differentiate between
three groups of people.

East Egg
Is where
the old
money
lives.

The East Eggers are the aristocrats

and have lived with their money for
generations.
.

The characters Daisy, Tom,

and Jordan all live in East Egg.

West Egg
This is where
the
new money
lives.

They are all lower and middle class

people who have found themselves with
outrageous amounts of money, and as a
result, spend it in an outrageous manner.

The characters Gatsby and Nick

live on West Egg.

The Valley of Ashes

This is where
the working
class lives.

The characters Wilson

and Myrtle live in the Valley of Ashes.

Throughout the book, you will be

expected to make judgments about the
characters based on where they live

What should you look for while we read?

COLORS they are everywhere!

because you have an

understanding of old money
vs. new money.

Now,
turn to your partner
and come up with five
examples as quickly
as you can of NEW
MONEY. Go Hurry!

80