Steve VarsanoFounder at The Jet Business

Why the worlds richest people don't show off their wealth!

Name: Why the worlds richest people don't show off their wealth!
Uploaded: 2023-08-25T17:20:53+00:00
Duration: 49 s
Channel: Steve Varsano
Description: In this short commentary, the speaker explains why many ultra‑wealthy individuals deliberately avoid flaunting their riches. Three main reasons are…

25 Aug 2023 · 1 min

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In this short commentary, the speaker explains why many ultra‑wealthy individuals deliberately avoid flaunting their riches. Three main reasons are highlighted: (1) to keep governments from questioning the source of their money, (2) to reduce the risk of becoming targets for robbery, scams, or other criminal activity, and (3) to avoid provoking jealousy, resentment, or attacks that can arise when wealth is publicly displayed. The speaker also notes that in regions such as Africa, the Middle East, and Asia, many wealthy people remain unknown to the public, allowing them to stay out of the spotlight and sidestep the negative social reactions that can accompany conspicuous consumption.

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There are a lot of people out there who don't want to go raise the flag around, hey, look at me, I've made a lot of money, I'm rich. One reason is because they don't want governments to start wondering, okay, where did you make money? Two, you get to be a target for people trying to rob you or scam you or something like that. And three, there's a saying, if you live by the sword, you die by the sword. So the more you make a big deal, the more people might get jealous or resent you and they might attack you. Unfortunately, human nature really is that a lot of people don't really like to see other people succeed. It's a sad kind of thing. Might say, oh wow, good for you, but they all want to make themselves feel better by seeing other people not do so good. Some of the people who are out there, you think in Africa or in the Middle East and Asia, you never heard of these people at all, and they've made a fortune of money. So you aren't in the public eye, you won't have those kind of sort of bad thoughts come at you.