Bridger Pennington explains how newly wealthy people tend to flaunt their money with flashy displays, while old money practices stealth wealth and hides their assets. The difference comes down to social signaling and how secure each group feels about their status.
Chapters
Be mindful of new money and old money. New money typically wants to look super rich, and old money tries to be stealth wealth and like play everything down. The people that are flashiest, brand new, usually are the poorest of the rich people, and they really are trying to fit in. All we gotta do is show a little class, a little sophistication. People that are super rich, I get to hang out with these huge family offices, high net worth individuals, people that are worth hundreds of millions, billions of dollars. They play it down like crazy. You don't see any toys. There is not— it's just like, that's just me and you. They just wanna play normal. And those are the people that are like dangerous. You're like, whoa, this guy's legit.