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Concept
Old money
Résumé
Old money is "the inherited wealth of established upper-class families (i.e. gentry, patriciate)" or "a person, family, or lineage possessing inherited wealth". The term typically describes a social class of the rich who have been able to maintain their wealth over multiple generations, often referring to perceived members of the de facto aristocracy in societies that historically lack an officially established aristocratic class (such as the United States).
The term is often used in contrast with new money.
Wealth—assets held by an individual or by a household—provides an important dimension of social stratification because it can pass from generation to generation, ensuring that a family's offspring will remain financially stable. Families with "old money" use accumulated assets or savings to bridge interruptions in income, thus guarding against downward social mobility.
"Old money" applies to those of the upper class whose wealth separates them from lower social classes. According to anthropologist W. Lloyd Warner, the upper class in the United States during the 1930s was divided into the upper-upper and the lower-upper classes. The lower-upper were those who did not come from traditionally wealthy families. They earned their money from investments and business, rather than inheritance. Examples include John D. Rockefeller, whose father was a traveling peddler; Cornelius Vanderbilt, whose father operated a ferry in New York Harbor; Henry Flagler, who was the son of a Presbyterian minister; and Andrew Carnegie, who was the son of a Scottish weaver. In contrast to the nouveau riche, whose riches were acquired in their own generation, the upper-upper class were families viewed as "quasi-aristocratic" and "high society". These families had been rich and prominent in the politics of the United States for generations. In many cases, their prominence dated since before the American Revolution (1765–1783), when their ancestors had accumulated fortunes as members of the elite planter class, or as merchants, slave traders, ship-owners, or fur traders.
Source officielle
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