Old money is "the inherited

wealth Wealth is the abundance of Value (economics), valuable financial assets or property, physical possessions which can be converted into a form that can be used for financial transaction, transactions. This includes the core meaning as held in the ...

of established

upper-class Upper class in modern societies is the social class composed of people who hold the highest social status, usually are the wealthiest members of class society, and wield the greatest political power. According to this view, the upper class is gen ...

families (i.e.

gentry Gentry (from Old French ''genterie'', from ''gentil'', "high-born, noble") are "well-born, genteel and well-bred people" of high social class, especially in the past. Word similar to gentle imple and decentfamilies ''Gentry'', in its widest ...

, patriciate)" or "a person, family, or lineage possessing inherited wealth". The term typically describes a

social class A social class is a grouping of people into a set of Dominance hierarchy, hierarchical social categories, the most common being the Upper class, upper, Middle class, middle and Working class, lower classes. Membership in a social class can for ...

of the rich who have been able to maintain their wealth over multiple generations, often referring to perceived members of the ''

de facto ''De facto'' ( ; , "in fact") describes practices that exist in reality, whether or not they are officially recognized by laws or other formal norms. It is commonly used to refer to what happens in practice, in contrast with ''de jure'' ("by la ...

aristocracy Aristocracy (, ) is a form of government that places strength in the hands of a small, privileged ruling class, the aristocracy (class), aristocrats. The term derives from the el, αριστοκρατία (), meaning 'rule of the best'. At t ...

in societies that historically lack an officially established aristocratic class (such as the United States).

United States

Wealth Wealth is the abundance of Value (economics), valuable financial assets or property, physical possessions which can be converted into a form that can be used for financial transaction, transactions. This includes the core meaning as held in the ...

''—assets held by an individual or by a household—provides an important dimension of

social stratification Social stratification refers to a society's categorization of its people into groups based on socioeconomic factors like wealth, income, race, education, ethnicity, gender, occupation, social status, or derived power (social and political). As ...

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 Social mobility is the movement of individuals, families, households or other categories of people within or between social strata in a society. It is a change in social status relative to one's current social location within a given society ...

. "Old money" applies to those of the upper class whose wealth separates them from lower social classes. According to anthropologist

W. Lloyd Warner William Lloyd Warner (October 26, 1898 – May 23, 1970) was a pioneering anthropologist and sociologist noted for applying the techniques of British functionalism to understanding American culture. Background William Lloyd Warner was born in ...

, 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 Inheritance is the practice of receiving private property, Title (property), titles, debts, entitlements, Privilege (law), privileges, rights, and Law of obligations, obligations upon the death of an individual. The rules of inheritance differ ...

. Examples include

John D. Rockefeller John Davison Rockefeller Sr. (July 8, 1839 – May 23, 1937) was an American business magnate and philanthropist. He has been widely considered the wealthiest American of all time and the richest person in modern history. Rockefeller was ...

, whose father was a traveling

peddler A peddler, in British English pedlar, also known as a chapman, packman, cheapjack, hawker, higler, huckster, (coster)monger, colporteur or solicitor, is a door-to-door and/or travelling vendor of goods. In England, the term was mostly used fo ...

;

Cornelius Vanderbilt Cornelius Vanderbilt (May 27, 1794 – January 4, 1877), nicknamed "the Commodore", was an American business magnate who built his wealth in railroads and shipping. After working with his father's business, Vanderbilt worked his way into lead ...

, whose father operated a

ferry A ferry is a ship, watercraft or amphibious vehicle used to carry passengers, and sometimes vehicles and cargo, across a body of water. A passenger ferry with many stops, such as in Venice, Italy, is sometimes called a water bus or water taxi ...

New York Harbor New York Harbor is at the mouth of the Hudson River where it empties into New York Bay near the East River tidal estuary, and then into the Atlantic Ocean on the east coast of the United States. It is one of the largest natural harbors in t ...

;

Henry Flagler Henry Morrison Flagler (January 2, 1830 – May 20, 1913) was an American industrialist and a founder of Standard Oil, which was first based in Ohio. He was also a key figure in the development of the Atlantic coast of Florida and founde ...

, who was the son of a Presbyterian minister; and

Andrew Carnegie Andrew Carnegie (, ; November 25, 1835August 11, 1919) was a Scottish-American industrialist and philanthropist. Carnegie led the expansion of the American steel industry in the late 19th century and became one of the richest Americans i ...

, who was the son of a Scottish weaver. In contrast to the ''

nouveau riche ''Nouveau riche'' (; ) is a term used, usually in a derogatory way, to describe those whose wealth has been acquired within their own generation, rather than by familial inheritance. The equivalent English term is the "new rich" or "new money" ( ...

'', whose riches were acquired in their own generation, the upper-upper class were families viewed as "quasi-aristocratic" and "

high society High society, sometimes simply society, is the behavior and lifestyle of people with the highest levels of wealth and social status. It includes their related affiliations, social events and practices. Upscale social clubs were open to men based ...

". These families had been rich and prominent in the

politics of the United States The politics of the United States function within a framework of a constitutional federal republic and presidential system, with three distinct branches that share powers. These are: the U.S. Congress which forms the legislative branch, a bi ...

for generations. In many cases their prominence dated since before the

American Revolution The American Revolution was an ideological and political revolution that occurred in British America between 1765 and 1791. The Americans in the Thirteen Colonies formed independent states that defeated the British in the American Revolut ...

(1765–1783), when their ancestors had accumulated fortunes as members of the elite

planter class The planter class, known alternatively in the United States as the Southern aristocracy, was a racial and socioeconomic caste of pan-American society that dominated 17th and 18th century agricultural markets. The Atlantic slave trade permitted p ...

, or as

merchant A merchant is a person who trades in commodities produced by other people, especially one who trades with foreign countries. Historically, a merchant is anyone who is involved in business or trade. Merchants have operated for as long as indust ...

s, slave traders,

ship-owner A ship-owner is the owner of a merchant vessel (commercial ship) and is involved in the shipping industry. In the commercial sense of the term, a shipowner is someone who equips and exploits a ship, usually for delivering cargo at a certain freig ...

s, or

fur trade The fur trade is a worldwide industry dealing in the acquisition and sale of animal fur. Since the establishment of a world fur market in the early modern period, furs of boreal, polar and cold temperate mammalian animals have been the mos ...

rs. In many cases, especially in

Virginia Virginia, officially the Commonwealth of Virginia, is a state in the Mid-Atlantic and Southeastern regions of the United States, between the Atlantic Coast and the Appalachian Mountains. The geography and climate of the Commonwealth ar ...

Maryland Maryland ( ) is a state in the Mid-Atlantic region of the United States. It shares borders with Virginia, West Virginia, and the District of Columbia to its south and west; Pennsylvania to its north; and Delaware and the Atlantic Ocean to ...

, and the

Carolinas The Carolinas are the U.S. states of North Carolina and South Carolina, considered collectively. They are bordered by Virginia to the north, Tennessee to the west, and Georgia to the southwest. The Atlantic Ocean is to the east. Combining Nort ...

, the source of these families' wealth were vast tracts of land granted to their ancestors by

the Crown The Crown is the state in all its aspects within the jurisprudence of the Commonwealth realms and their subdivisions (such as the Crown Dependencies, overseas territories, provinces, or states). Legally ill-defined, the term has different ...

or acquired by

headright A headright refers to a legal grant of land given to settlers during the period of European colonization in the Americas. Headrights are most notable for their role in the expansion of the Thirteen Colonies; the Virginia Company gave headrights to s ...

during the colonial period. These planter class families were often related to each other through intermarriage for more than 300 years, and are sometimes known as

American gentry The American gentry were rich landowning members of the American upper class in the colonial South. The Colonial American use of ''gentry'' was not common. Historians use it to refer to rich landowners in the South before 1776. Typically la ...

. They produced several

Founding Fathers of the United States The Founding Fathers of the United States, known simply as the Founding Fathers or Founders, were a group of late-18th-century American Revolution, American revolutionary leaders who United Colonies, united the Thirteen Colonies, oversaw the Am ...

and a number of early

presidents of the United States The president of the United States is the head of state and head of government of the United States, indirectly elected to a four-year term via the Electoral College. The officeholder leads the executive branch of the federal government and ...

. An example of this social class was

George Washington George Washington (February 22, 1732, 1799) was an American military officer, statesman, and Founding Father who served as the first president of the United States from 1789 to 1797. Appointed by the Continental Congress as commander of th ...

, who had an estimated

net worth Net worth is the value of all the non-financial and financial assets owned by an individual or institution minus the value of all its outstanding liabilities. Since financial assets minus outstanding liabilities equal net financial assets, net ...

of $525 million (in 2016 dollars) due to his vast holdings of land and

slaves Slavery and enslavement are both the state and the condition of being a slave—someone forbidden to quit one's service for an enslaver, and who is treated by the enslaver as property. Slavery typically involves slaves being made to perf ...

, making him the second wealthiest man to serve as President of the United States. After the

American Civil War The American Civil War (April 12, 1861 – May 26, 1865; also known by other names) was a civil war in the United States. It was fought between the Union ("the North") and the Confederacy ("the South"), the latter formed by states th ...

(1861–1865), many in this social class saw their wealth greatly reduced. Their slaves became

freedmen A freedman or freedwoman is a formerly enslaved person who has been released from slavery, usually by legal means. Historically, enslaved people were freed by manumission (granted freedom by their captor-owners), abolitionism, emancipation (gra ...

Union Union commonly refers to: * Trade union, an organization of workers * Union (set theory), in mathematics, a fundamental operation on sets Union may also refer to: Arts and entertainment Music * Union (band), an American rock group ** ''Un ...

forces under Generals

William Tecumseh Sherman William Tecumseh Sherman ( ; February 8, 1820February 14, 1891) was an American soldier, businessman, educator, and author. He served as a general in the Union Army during the American Civil War (1861–1865), achieving recognition for his com ...

and

Philip Sheridan General of the Army Philip Henry Sheridan (March 6, 1831 – August 5, 1888) was a career United States Army officer and a Union general in the American Civil War. His career was noted for his rapid rise to major general and his close as ...

had also cut wide swaths of destruction through portions of Virginia, the Carolinas and Georgia. They destroyed crops, killed or confiscated livestock, burned barns and gristmills, and in some cases torched

plantation house A plantation house is the main house of a plantation, often a substantial farmhouse, which often serves as a symbol for the plantation as a whole. Plantation houses in the Southern United States and in other areas are known as quite grand and e ...

s and even entire cities such as

Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...

. They were using

scorched earth A scorched-earth policy is a military strategy that aims to destroy anything that might be useful to the enemy. Any assets that could be used by the enemy may be targeted, which usually includes obvious weapons, transport vehicles, communi ...

tactics, designed to starve the

Confederate States of America The Confederate States of America (CSA), commonly referred to as the Confederate States or the Confederacy was an unrecognized breakaway republic in the Southern United States that existed from February 8, 1861, to May 9, 1865. The Confeder ...

into submission. After the

Thirteenth Amendment to the United States Constitution The Thirteenth Amendment (Amendment XIII) to the United States Constitution abolished slavery and involuntary servitude, except as punishment for a crime. The amendment was passed by the Senate on April 8, 1864, by the House of Representative ...

(1865) and the

emancipation Emancipation generally means to free a person from a previous restraint or legal disability. More broadly, it is also used for efforts to procure economic and social rights, political rights or equality, often for a specifically disenfranchis ...

of the slaves, many

plantation A plantation is an agricultural estate, generally centered on a plantation house, meant for farming that specializes in cash crops, usually mainly planted with a single crop, with perhaps ancillary areas for vegetables for eating and so on. The ...

s were converted to

sharecropping Sharecropping is a legal arrangement with regard to agricultural land in which a landowner allows a tenant to use the land in return for a share of the crops produced on that land. Sharecropping has a long history and there are a wide range ...

. African American freedmen were working as sharecroppers on the same land which they had worked as slaves before the war. Despite the fact that their circumstances were greatly reduced, the enactment of

Jim Crow laws The Jim Crow laws were state and local laws enforcing racial segregation in the Southern United States. Other areas of the United States were affected by formal and informal policies of segregation as well, but many states outside the Sout ...

and the

disenfranchisement Disfranchisement, also called disenfranchisement, or voter disqualification is the restriction of suffrage (the right to vote) of a person or group of people, or a practice that has the effect of preventing a person exercising the right to vote. D ...

of freed

black people Black is a racialized classification of people, usually a political and skin color-based category for specific populations with a mid to dark brown complexion. Not all people considered "black" have dark skin; in certain countries, often in s ...

allowed many planter class families in the

Southern United States The Southern United States (sometimes Dixie, also referred to as the Southern States, the American South, the Southland, or simply the South) is a geographic and cultural region of the United States of America. It is between the Atlantic Ocean ...

to regain their political prominence, if not their great wealth, following

Reconstruction Reconstruction may refer to: Politics, history, and sociology *Reconstruction (law), the transfer of a company's (or several companies') business to a new company *'' Perestroika'' (Russian for "reconstruction"), a late 20th century Soviet Unio ...

(1863–1877). In the early 20th century, the upper-upper class were seen as more prestigious than the nouveau riche even if the nouveau riche had more wealth. During the late 19th century and early 20th century, the nouveau rich flaunted their wealth by building

Gilded Age mansions Gilding is a decorative technique for applying a very thin coating of gold over solid surfaces such as metal (most common), wood, porcelain, or stone. A gilded object is also described as "gilt". Where metal is gilded, the metal below was tradi ...

that emulated the palaces of European royalty, while old money was more conservative. American "Old money" families tend to adhere to various

Mainline Protestant The mainline Protestant churches (also called mainstream Protestant and sometimes oldline Protestant) are a group of Protestant denominations in the United States that contrast in history and practice with evangelical, fundamentalist, and charis ...

denominations;

Episcopalians Anglicanism is a Western Christian tradition that has developed from the practices, liturgy, and identity of the Church of England following the English Reformation, in the context of the Protestant Reformation in Europe. It is one of th ...

and

Presbyterians Presbyterianism is a part of the Reformed tradition within Protestantism that broke from the Roman Catholic Church in Scotland by John Knox, who was a priest at St. Giles Cathedral (Church of Scotland). Presbyterian churches derive their nam ...

are the most prevalent among them. Some families with "old money" include: * The Byrd Family of Virginia is descended from

William Byrd I William Byrd I (1652 – December 4, 1704) was an English-born Virginia colonist and politician. He came from Shadwell, London where his father John Bird (c. 1620–1677) was a goldsmith. His family's ancestral roots were in Cheshire. Personal li ...

who received a grant on 27 October 1673 at the

fall line A fall line (or fall zone) is the area where an upland region and a coastal plain meet and is typically prominent where rivers cross it, with resulting rapids or waterfalls. The uplands are relatively hard crystalline basement rock, and the coa ...

of the

James River The James River is a river in the U.S. state of Virginia that begins in the Appalachian Mountains and flows U.S. Geological Survey. National Hydrography Dataset high-resolution flowline dataThe National Map , accessed April 1, 2011 to Chesapea ...

that would later become the site of

Richmond, Virginia (Thus do we reach the stars) , image_map = , mapsize = 250 px , map_caption = Location within Virginia , pushpin_map = Virginia#USA , pushpin_label = Richmond , pushpin_m ...

. Byrd's son

William Byrd II William Byrd II (March 28, 1674August 26, 1744) was an American planter, lawyer, surveyor, author, and a man of letters. Born in Colonial Virginia, he was educated in London, where he practiced law. Upon his father's death, he returned to Virgi ...

Westover Plantation Westover Plantation is a historic colonial tidewater plantation located on the north bank of the James River in Charles City County, Virginia. Established in c. 1730–1750, it is the homestead of the Byrd family of Virginia. State Route 5, ...

who inherited the land was an American planter and author from

Charles City County Charles City County is a county located in the U.S. commonwealth of Virginia. The county is situated southeast of Richmond and west of Jamestown. It is bounded on the south by the James River and on the east by the Chickahominy River. The ...

colonial Virginia The Colony of Virginia, chartered in 1606 and settled in 1607, was the first enduring English colonial empire, English colony in North America, following failed attempts at settlement on Newfoundland (island), Newfoundland by Sir Humphrey GilbertG ...

. He expanded his holdings to approximately and founded the City of Richmond. Although much of the family's wealth was squandered during the 18th century by

William Byrd III Colonel William Byrd III (September 6, 1728January 1 or January 2, 1777) was an American planter, politician and military officer who was a member of the House of Burgesses. Early life He was son of William Byrd II and Maria Taylor Byrd, and t ...

through gambling and bad investments, descendant

Richard Evelyn Byrd Sr. Richard Evelyn Byrd Sr. (August 13, 1860 – October 23, 1925) was a Virginia lawyer, politician and newspaperman. Early and family life He was the first son born to Jennie (Rivers) and her husband William Byrd, who had become an adjutant gener ...

became wealthy as an apple grower in the

Shenandoah Valley The Shenandoah Valley () is a geographic valley and cultural region of western Virginia and the Eastern Panhandle of West Virginia. The valley is bounded to the east by the Blue Ridge Mountains, to the west by the eastern front of the Ridge- ...

and publisher of the

Winchester Star ''The Winchester Star'' is a daily newspaper (Monday-Friday) based in Winchester, Virginia covering the Shenandoah Valley area. Subscribers may choose from either the print edition or a downloadable edition of the newspaper. On March 6, 2018, it ...

newspaper. He was elected to the

Virginia House of Delegates The Virginia House of Delegates is one of the two parts of the Virginia General Assembly, the other being the Senate of Virginia. It has 100 members elected for terms of two years; unlike most states, these elections take place during odd-numbe ...

in 1906 and served as

Speaker Speaker may refer to: Society and politics * Speaker (politics), the presiding officer in a legislative assembly * Public speaker, one who gives a speech or lecture * A person producing speech: the producer of a given utterance, especially: ** I ...

from 1908 to 1914. His son

Harry Flood Byrd Harry Flood Byrd Sr. (June 10, 1887 – October 20, 1966) was an American newspaper publisher, politician, and leader of the Democratic Party in Virginia for four decades as head of a political faction that became known as the Byrd Organization. ...

was elected the 50th

Governor of Virginia The governor of the Commonwealth of Virginia serves as the head of government of Virginia for a four-year term. The incumbent, Glenn Youngkin, was sworn in on January 15, 2022. Oath of office On inauguration day, the Governor-elect takes th ...

in 1925, and later served in the

US Senate The United States Senate is the upper chamber of the United States Congress, with the House of Representatives being the lower chamber. Together they compose the national bicameral legislature of the United States. The composition and powe ...

until his retirement in 1965. Byrd controlled a Democratic

political machine In the politics of Representative democracy, representative democracies, a political machine is a party organization that recruits its members by the use of tangible incentives (such as money or political jobs) and that is characterized by a hig ...

known as the

Byrd Organization The Byrd machine, or Byrd organization, was a political machine of the Democratic Party led by former Governor and U.S. Senator Harry F. Byrd (1887–1966) that dominated Virginia politics for much of the 20th century. From the 1890s until the l ...

that dominated Virginia politics for most of the 20th century. Byrd was succeeded in the US Senate by his son

Harry F. Byrd Jr. Harry Flood Byrd Jr. (December 20, 1914 – July 30, 2013) was an American orchardist, newspaper publisher and politician. He served in the Senate of Virginia and then represented Virginia in the United States Senate, succeeding his father, Harr ...

who served until 1981. The family also produced early Ohio political leader and jurist,

Charles Willing Byrd Charles Willing Byrd (July 26, 1770 – August 25, 1828) was Secretary of the Northwest Territory, acting Governor of the Northwest Territory and a United States district judge of the United States District Court for the District of Ohio. E ...

, pp. 526–527; J. W. Klise stated that Byrd began his legal education with his uncle. J. W. Klise, ed., State Centennial History of Highland County, 1902; 1902. Reprint. Owensboro, KY: Cook & McDowell, 1980, p. 168. and polar explorer,

Rear Admiral Rear admiral is a senior naval flag officer rank, equivalent to a major general and air vice marshal and above that of a commodore and captain, but below that of a vice admiral. It is regarded as a two star "admiral" rank. It is often regarde ...

Richard E. Byrd Richard Evelyn Byrd Jr. (October 25, 1888 – March 11, 1957) was an American naval officer and explorer. He was a recipient of the Medal of Honor, the highest honor for valor given by the United States, and was a pioneering American aviator, p ...

. * The

Carter Family Carter Family was a traditional American folk music group that recorded between 1927 and 1956. Their music had a profound impact on bluegrass, country, Southern Gospel, pop and rock musicians as well as on the U.S. folk revival of the 1960s. ...

of Virginia is descended from Robert "King" Carter, of Lancaster County, who was a planter, businessman and

colonist A settler is a person who has migrated to an area and established a permanent residence there, often to colonize the area. A settler who migrates to an area previously uninhabited or sparsely inhabited may be described as a pioneer. Settle ...

in Virginia and became one of the wealthiest men in the

colonies In modern parlance, a colony is a territory subject to a form of foreign rule. Though dominated by the foreign colonizers, colonies remain separate from the administration of the original country of the colonizers, the '' metropolitan state'' ...

accumulating over 300,000 acres of land. As President of the

Governor's Council The governments of the Thirteen Colonies of British America developed in the 17th and 18th centuries under the influence of the British constitution. After the Thirteen Colonies had become the United States, the experience under colonial rule would ...

of the

Virginia Colony The Colony of Virginia, chartered in 1606 and settled in 1607, was the first enduring English colonial empire, English colony in North America, following failed attempts at settlement on Newfoundland (island), Newfoundland by Sir Humphrey GilbertG ...

, he was acting

from 1726 to 1727 after the death in office of Governor

Hugh Drysdale Colonel Hugh Drysdale (died 22 July 1726) was an American governor of colonial Virginia. He was educated at Kilkenny College and Trinity College Dublin. More officially, his title was ''Lieutenant Governor and Commander in Chief of the Colony and ...

. He acquired the

moniker A nickname is a substitute for the proper name of a familiar person, place or thing. Commonly used to express affection, a form of endearment, and sometimes amusement, it can also be used to express defamation of character. As a concept, it is ...

"King" due to his great wealth, political power, and autocratic business methods. His many notable descendants include:

Robert Burwell The name Robert is an ancient Germanic given name, from Proto-Germanic "fame" and "bright" (''Hrōþiberhtaz''). Compare Old Dutch ''Robrecht'' and Old High German ''Hrodebert'' (a compound of ''Hrōþ, Hruod'' ( non, Hróðr) "fame, glory ...

, a member of the Virginia

House of Burgesses The House of Burgesses was the elected representative element of the Virginia General Assembly, the legislative body of the Colony of Virginia. With the creation of the House of Burgesses in 1642, the General Assembly, which had been established ...

Robert Carter III Robert "Councillor" Carter III (February 28, 1728 – March 10, 1804) was a lawyer and planter from the Northern Neck of Virginia, in what became the United States. For two decades he sat on the Colonial Virginia Governor's Council. After th ...

, who sat on the

Virginia Governor's Council The Governor's Council (also known as the "Council of State" or simply "the Council") was the upper house of the colonial legislature (the House of Burgesses was the other house) in the Colony of Virginia from 1607 until the American Revolution i ...

, Carter Braxton, a signer of Declaration of Independence,

Mann Page Mann Page (1749–1781), sometimes referred to as Mann Page III, was an American lawyer, politician and planter from Spotsylvania County, Virginia, who served in the House of Burgesses and first Virginia House of Delegates as well as a d ...

a Virginia delegate to the

Continental Congress The Continental Congress was a series of legislative bodies, with some executive function, for thirteen of Britain's colonies in North America, and the newly declared United States just before, during, and after the American Revolutionary War. ...

in 1777,

Confederate States Army The Confederate States Army, also called the Confederate Army or the Southern Army, was the military land force of the Confederate States of America (commonly referred to as the Confederacy) during the American Civil War (1861–1865), fighting ...

General Robert E. Lee, Confederate Army first lieutenant

Robert Randolph Carter Robert Randolph Carter (September 15, 1825 – March 8, 1888) was an American naval officer that would later come to be known for a journal he kept while unsuccessfully searching for the Franklin expedition. This journal was later posthumously pub ...

, John Page, the 13th Governor of Virginia,

Thomas Nelson Page Thomas Nelson Page (April 23, 1853 – November 1, 1922) was an American lawyer, politician, and writer. He served as the U.S. ambassador to Italy from 1913 to 1919 under the administration of President Woodrow Wilson during World War I. In his ...

, who served as US ambassador to

Italy Italy ( it, Italia ), officially the Italian Republic, ) or the Republic of Italy, is a country in Southern Europe. It is located in the middle of the Mediterranean Sea, and its territory largely coincides with the homonymous geographical re ...

during the

Woodrow Wilson Thomas Woodrow Wilson (December 28, 1856February 3, 1924) was an American politician and academic who served as the 28th president of the United States from 1913 to 1921. A member of the Democratic Party, Wilson served as the president of ...

administration, and civil engineer and industrialist

William Nelson Page William Nelson Page (January 6, 1854 – March 7, 1932) was an American civil engineer and industrialist. He was active in the Virginias following the U.S. Civil War. Page was widely known as a metallurgical expert by other industry leaders a ...

. * The Lindsey family is descended from Robert Lindsey, a

Scot The Scots ( sco, Scots Fowk; gd, Albannaich) are an ethnic group and nation native to Scotland. Historically, they emerged in the early Middle Ages from an amalgamation of two Celtic-speaking peoples, the Picts and Gaels, who founded t ...

who arrived in the 1660s in the English

Colony of Virginia The Colony of Virginia, chartered in 1606 and settled in 1607, was the first enduring English colonial empire, English colony in North America, following failed attempts at settlement on Newfoundland (island), Newfoundland by Sir Humphrey GilbertG ...

. He married Susanna Opie, an heiress of English wealth, a few years later. Susanna was the only child of John Opie, and heiress of the 100,000 (15 million dollars today) dollar fortune and estate that he had accumulated. Susanna predeceased her father, so the fortune passed to his son-in-law. During the

, the grandson and great grandson of Robert, Col. John M Lindsey and Capt. James Lindsey, decided to side with the

Continental Army The Continental Army was the army of the United Colonies (the Thirteen Colonies) in the Revolutionary-era United States. It was formed by the Second Continental Congress after the outbreak of the American Revolutionary War, and was establis ...

, allowing them to keep their fortune. The Lindsey family helped the later United States stay economically important. During the 19th and 20th centuries, the family invested in shipyards, port houses, railways, real estate and the early stock market. The family is today prominent in business, and American politics. Descendants of Robert include U.S. presidents

George H.W Bush George Herbert Walker BushSince around 2000, he has been usually called George H. W. Bush, Bush Senior, Bush 41 or Bush the Elder to distinguish him from his eldest son, George W. Bush, who served as the 43rd president from 2001 to 2009; p ...

George W. Bush George Walker Bush (born July 6, 1946) is an American politician who served as the 43rd president of the United States from 2001 to 2009. A member of the Republican Party, Bush family, and son of the 41st president George H. W. Bush, he ...

Abraham Lincoln Abraham Lincoln ( ; February 12, 1809 – April 15, 1865) was an American lawyer, politician, and statesman who served as the 16th president of the United States from 1861 until his assassination in 1865. Lincoln led the nation thro ...

Theodore Roosevelt Theodore Roosevelt Jr. ( ; October 27, 1858 – January 6, 1919), often referred to as Teddy or by his initials, T. R., was an American politician, statesman, soldier, conservationist, naturalist, historian, and writer who served as the 26t ...

Ronald Reagan Ronald Wilson Reagan ( ; February 6, 1911June 5, 2004) was an American politician, actor, and union leader who served as the 40th president of the United States from 1981 to 1989. He also served as the 33rd governor of California from 1967 ...

, and

John F. Kennedy John Fitzgerald Kennedy (May 29, 1917 – November 22, 1963), often referred to by his initials JFK and the nickname Jack, was an American politician who served as the 35th president of the United States from 1961 until his assassination ...

, as well as the

Vanderbilts The Vanderbilt family is an American family who gained prominence during the Gilded Age. Their success began with the shipping and railroad empires of Cornelius Vanderbilt, and the family expanded into various other areas of industry and philanthr ...

, the

Astors The Astor family achieved prominence in business, society, and politics in the United States and the United Kingdom during the 19th and 20th centuries. With ancestral roots in the Italian Alps region of Italy by way of Germany, the Astors settled ...

, and the

Rockefellers The Rockefeller family () is an American industrial, political, and banking family that owns one of the world's largest fortunes. The fortune was made in the American petroleum industry during the late 19th and early 20th centuries by brot ...

. Many other descendants are successful entrepreneurs, governors, and congressmen. * The Randolph family is descended from

William Randolph William Randolph I (bapt. 7 November 1650 – 11 April 1711) was a planter, merchant and politician in colonial Virginia who played an important role in the development of the colony. Born in Moreton Morrell, Warwickshire, Randolph moved to th ...

, an American

who accumulated a vast fortune including over 20,000 acres (81 km2) of land as a planter and merchant, and played an important role in the history and government of the English

colony of Virginia The Colony of Virginia, chartered in 1606 and settled in 1607, was the first enduring English colonial empire, English colony in North America, following failed attempts at settlement on Newfoundland (island), Newfoundland by Sir Humphrey GilbertG ...

. He arrived in Virginia sometime between 1669 and 1673, and married Mary Isham a few years later. Randolph's descendants have included many prominent Americans, including U.S. President

Thomas Jefferson Thomas Jefferson (April 13, 1743 – July 4, 1826) was an American statesman, diplomat, lawyer, architect, philosopher, and Founding Fathers of the United States, Founding Father who served as the third president of the United States from 18 ...

, U.S. Chief Justice

John Marshall John Marshall (September 24, 1755July 6, 1835) was an American politician and lawyer who served as the fourth Chief Justice of the United States from 1801 until his death in 1835. He remains the longest-serving chief justice and fourth-longes ...

Confederate Confederacy or confederate may refer to: States or communities * Confederate state or confederation, a union of sovereign groups or communities * Confederate States of America, a confederation of secessionist American states that existed between 1 ...

General, Robert E. Lee,

Peyton Randolph Peyton Randolph (September 10, 1721 – October 22, 1775) was an American politician and planter who was a Founding Father of the United States. Born into Virginia's wealthiest and most powerful family, Randolph served as speaker of Virginia' ...

, the first

President of the Continental Congress The president of the United States in Congress Assembled, known unofficially as the president of the Continental Congress and later as the president of the Congress of the Confederation, was the presiding officer of the Continental Congress, the ...

, and

Edmund Randolph Edmund Jennings Randolph (August 10, 1753 September 12, 1813) was a Founding Father of the United States, attorney, and the 7th Governor of Virginia. As a delegate from Virginia, he attended the Constitutional Convention and helped to create ...

, who served as the seventh

, the second

US Secretary of State The United States secretary of state is a member of the executive branch of the federal government of the United States and the head of the U.S. Department of State. The office holder is one of the highest ranking members of the president's Ca ...

, and the first

U.S. Attorney General The United States attorney general (AG) is the head of the United States Department of Justice, and is the chief law enforcement officer of the federal government of the United States. The attorney general serves as the principal advisor to the p ...

as well as many other notable individuals in Virginia and U.S. politics. * The

Roosevelt family The Roosevelt family is an American political family from New York whose members have included two United States presidents, a First Lady, and various merchants, bankers, politicians, inventors, clergymen, artists, and socialites. The progeny ...

of Manhattan arrived from the

Netherlands ) , anthem = ( en, "William of Nassau") , image_map = , map_caption = , subdivision_type = Sovereign state , subdivision_name = Kingdom of the Netherlands , established_title = Before independence , established_date = Spanish Netherl ...

as colonists in the 17th century and later became prominent in business and politics. Two distantly related branches of the family, from Oyster Bay on

Long Island Long Island is a densely populated island in the southeastern region of the U.S. state of New York (state), New York, part of the New York metropolitan area. With over 8 million people, Long Island is the most populous island in the United Sta ...

and

Hyde Park Hyde Park may refer to: Places England * Hyde Park, London, a Royal Park in Central London * Hyde Park, Leeds, an inner-city area of north-west Leeds * Hyde Park, Sheffield, district of Sheffield * Hyde Park, in Hyde, Greater Manchester Austra ...

in Dutchess County, rose to national political prominence with the elections of Presidents

(1901–1909) and his fifth cousin

Franklin D. Roosevelt Franklin Delano Roosevelt (; ; January 30, 1882April 12, 1945), often referred to by his initials FDR, was an American politician and attorney who served as the 32nd president of the United States from 1933 until his death in 1945. As the ...

(1933–1945), whose wife, First Lady

Eleanor Roosevelt Anna Eleanor Roosevelt () (October 11, 1884November 7, 1962) was an American political figure, diplomat, and activist. She was the first lady of the United States from 1933 to 1945, during her husband President Franklin D. Roosevelt's four ...

, was Theodore's niece. * The Cabots arrived in Salem from the Isle of Jersey in 1700 and made fortunes in shipping. At the age of 21, Godfrey Lowell Cabot (see Lowells below) founded the

Cabot Corporation Cabot Corporation is an American specialty chemicals and performance materials company headquartered in Boston, Massachusetts. The company operates in over 20 countries with 36 manufacturing plants, eight research and development facilities and ...

, the largest producer of carbon black in the country. * The

Lowell family The Lowell family is one of the Boston Brahmin families of New England, known for both intellectual and commercial achievements. The family had emigrated to Boston from England in 1639, led by the patriarch Percival Lowle (1571–1665). The surn ...

are descended from Boston colonists.

Francis Cabot Lowell Francis Cabot Lowell (April 7, 1775 – August 10, 1817) was an American businessman for whom the city of Lowell, Massachusetts, is named. He was instrumental in bringing the Industrial Revolution to the United States. Early life Francis Cabot ...

began the fortune in shipping and later textiles. The family has produced several noteworthy individuals, including

Abbott Lawrence Lowell Abbott Lawrence Lowell (December 13, 1856 – January 6, 1943) was an American educator and legal scholar. He was President of Harvard University from 1909 to 1933. With an "aristocratic sense of mission and self-certainty," Lowell cut a large f ...

, who presided over

Harvard Harvard University is a private Ivy League research university in Cambridge, Massachusetts. Founded in 1636 as Harvard College and named for its first benefactor, the Puritan clergyman John Harvard, it is the oldest institution of higher le ...

for 24 years. * The

Du Pont family The du Pont family () or Du Pont family is a prominent American family descended from Pierre Samuel du Pont de Nemours (1739–1817). It has been one of the richest families in the United States since the mid-19th century, when it founded its fo ...

fortune began in 1803, but they became an extraordinarily wealthy family by selling

gunpowder Gunpowder, also commonly known as black powder to distinguish it from modern smokeless powder, is the earliest known chemical explosive. It consists of a mixture of sulfur, carbon (in the form of charcoal) and potassium nitrate (saltpeter). ...

during the

. By

World War I World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fightin ...

, the DuPont family produced virtually all American gunpowder. In 1968, Ferdinand Lundberg declared the Du Pont fortune to be America's largest family fortune.

E. I. du Pont de Nemours and Company DuPont de Nemours, Inc., commonly shortened to DuPont, is an American multinational chemical company first formed in 1802 by French-American chemist and industrialist Éleuthère Irénée du Pont de Nemours. The company played a major role in ...

ranked 81st on the Fortune 500 list of the largest U.S. corporations. * The

Forbes family The Forbes family is one of the components of the Boston Brahmins—they are a wealthy extended American family long prominent in Boston, Massachusetts. The family's fortune originates from trading opium and tea between North America and China ...

of Boston made their fortune in the shipping and later railroad industries as well as other investments. They have been a prominent wealthy family in the United States for 200 years. * The

Astor family The Astor family achieved prominence in business, society, and politics in the United States and the United Kingdom during the 19th and 20th centuries. With ancestral roots in the Italian Alps region of Italy by way of Germany, the Astors settle ...

made their fortune in the 18th century, through fur trading, real estate, the hotel industry and other investments. * The Harrisons of Virginia is an American political family, of the

Commonwealth of Virginia Virginia, officially the Commonwealth of Virginia, is a U.S. state, state in the Mid-Atlantic (United States), Mid-Atlantic and Southeastern United States, Southeastern regions of the United States, between the East Coast of the United Stat ...

, whose direct descendants include a

Founding Father The following list of national founding figures is a record, by country, of people who were credited with establishing a state. National founders are typically those who played an influential role in setting up the systems of governance, (i.e. ...

of the United States,

Benjamin Harrison V Benjamin Harrison V (April 5, 1726April 24, 1791) was an American planter, merchant, and politician who served as a legislator in colonial Virginia, following his namesakes’ tradition of public service. He was a signer of the Continental Ass ...

, and three U. S. presidents:

William Henry Harrison William Henry Harrison (February 9, 1773April 4, 1841) was an American military officer and politician who served as the ninth president of the United States. Harrison died just 31 days after his inauguration in 1841, and had the shortest pres ...

Benjamin Harrison Benjamin Harrison (August 20, 1833March 13, 1901) was an American lawyer and politician who served as the 23rd president of the United States from 1889 to 1893. He was a member of the Harrison family of Virginia–a grandson of the ninth pr ...

, and

. The Virginia Harrison family consists primarily of two branches with origins in northern England. One branch, led by Benjamin Harrison I, journeyed by way of

Bermuda ) , anthem = "God Save the King" , song_type = National song , song = " Hail to Bermuda" , image_map = , map_caption = , image_map2 = , mapsize2 = , map_caption2 = , subdivision_type = Sovereign state , subdivision_name = , e ...

to Virginia before 1633 and settled along the

where they became wealthy

planters Planters Nut & Chocolate Company is an American snack food company now owned by Hormel Foods. Planters is best known for its processed nuts and for the Mr. Peanut icon that symbolizes them. Mr. Peanut was created by grade schooler Antonio Gentil ...

; they are often referred to as the James River Harrisons. Successive generations of this branch served in the legislature of the Colony of Virginia, including Benjamin V, who was a signatory of the

Declaration of Independence A declaration of independence or declaration of statehood or proclamation of independence is an assertion by a polity in a defined territory that it is independent and constitutes a state. Such places are usually declared from part or all of the ...

and later governor of Virginia. This branch of the Harrison family produced President William Henry Harrison, Benjamin V's son, and President Benjamin Harrison, William Henry's grandson, as well as another Virginia governor,

Albertis Harrison Albertis Sydney Harrison Jr. (January 11, 1907 – January 23, 1995) was an American politician and jurist. A member of the Democratic Party (United States), Democratic Party associated with Virginia's Byrd Organization, he was the List of Governo ...

. The family also includes two Chicago mayors and members of the U.S. House of Representatives and the U.S. Senate. The other branch of the Virginia Harrisons emigrated from Britain to

New England New England is a region comprising six states in the Northeastern United States: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. It is bordered by the state of New York to the west and by the Canadian provinces ...

in 1687 and moved south to the

of Virginia 50 years later; they were led by Isaiah Harrison. This branch most likely descended from an interim chaplain of the

Jamestown Colony The Jamestown settlement in the Colony of Virginia was the first permanent English settlement ''English Settlement'' is the fifth studio album and first double album by the English rock band XTC, released 12 February 1982 on Virgin Reco ...

, Rev. Thomas Harrison, who was kindred to the James River Harrisons, but by 1650 had returned to England. President Abraham Lincoln descended from the Shenandoah Valley Harrisons, as did entertainer

Elvis Presley Elvis Aaron Presley (January 8, 1935 – August 16, 1977), or simply Elvis, was an American singer and actor. Dubbed the "Honorific nicknames in popular music, King of Rock and Roll", he is regarded as Cultural impact of Elvis Presley, one ...

. This branch of the family also included the founders of Harrisonburg and

Dayton Dayton () is the sixth-largest city in the U.S. state of Ohio and the county seat of Montgomery County. A small part of the city extends into Greene County. The 2020 U.S. census estimate put the city population at 137,644, while Greater Da ...

and physician J. Hartwell Harrison, who was part of the medical team that accomplished the world's first successful

kidney transplant Kidney transplant or renal transplant is the organ transplant of a kidney into a patient with end-stage kidney disease (ESRD). Kidney transplant is typically classified as deceased-donor (formerly known as cadaveric) or living-donor transplantati ...

surgery. * The

Griswold Family The Griswold family () is an American political family from Connecticut and New York of English descent. The family's fortune originates from the 19th Century industrial and merchant pursuits. Family origins The Griswold family originates fr ...

of Connecticut made their fortune in shipping, banking, railroads, and industry. They have been prominent in American politics, producing five governors and numerous senators and congressmen. *The Hartwick family is of mainly

English English usually refers to: * English language * English people English may also refer to: Peoples, culture, and language * ''English'', an adjective for something of, from, or related to England ** English national ide ...

and

German German(s) may refer to: * Germany (of or related to) ** Germania (historical use) * Germans, citizens of Germany, people of German ancestry, or native speakers of the German language ** For citizens of Germany, see also German nationality law **Ge ...

descent, and their ancestry and fortune predates the

. The Hartwicks have produced several politicians and military generals, such as

Edward Hartwick Edward Edgar Hartwick (September 6, 1871 – March 31, 1918) was an American soldier, businessman and namesake of Hartwick Pines State Park in the state of Michigan. Family Hartwick was born in St. Louis, Michigan, on September 6, 1871, to Mich ...

. By

, the family controlled most of the lumber in the United States. The Hartwicks philanthropic works include the founding of

Hartwick College Hartwick College is a private liberal arts college in Oneonta, New York. The institution's origin is rooted in the founding of Hartwick Seminary in 1797 through the will of John Christopher Hartwick. In 1927, the Seminary moved to expand into a ...

, and

Hartwick Pines State Park Hartwick Pines State Park is a public recreation area covering in Crawford County near Grayling and Interstate 75 on the Lower Peninsula of the U.S. state of Michigan. The state park contains an old-growth forest of white pines and red pi ...

. * The Pitcairn family of Philadelphia made their fortune in chemical production and plate glass. They established a

trust Trust often refers to: * Trust (social science), confidence in or dependence on a person or quality It may also refer to: Business and law * Trust law, a body of law under which one person holds property for the benefit of another * Trust (bus ...

that continues to support 5th and 6th generation members. They were among

Eisenhower Dwight David "Ike" Eisenhower (born David Dwight Eisenhower; ; October 14, 1890 – March 28, 1969) was an American military officer and statesman who served as the 34th president of the United States from 1953 to 1961. During World War II, ...

and

Nixon Richard Milhous Nixon (January 9, 1913April 22, 1994) was the 37th president of the United States, serving from 1969 to 1974. A member of the Republican Party, he previously served as a representative and senator from California and was ...

's largest supporters and regularly support the music and arts in Philadelphia and New York. * The Van Leer family of Pennsylvania made their fortune in the iron business. They have been prominent in academia, business and American politics. Descendants include successful entrepreneurs, governors, congressmen, university presidents and university founders. * The

Whitney family The Whitney family is an American family notable for their business enterprises, social prominence, wealth and philanthropy, founded by John Whitney (1592–1673), who came from London, England to Watertown, Massachusetts in 1635. The historic fa ...

is an American family notable for their business enterprises, social prominence, wealth and philanthropy, founded by John Whitney, who came from

London London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...

England England is a country that is part of the United Kingdom. It shares land borders with Wales to its west and Scotland to its north. The Irish Sea lies northwest and the Celtic Sea to the southwest. It is separated from continental Europe b ...

Watertown, Massachusetts Watertown is a city in Middlesex County, Massachusetts, and is part of Greater Boston. The population was 35,329 in the 2020 census. Its neighborhoods include Bemis, Coolidge Square, East Watertown, Watertown Square, and the West End. Watertown ...

in 1635. The Whitney family are members of the Episcopal Church. Although many "old money" individuals do not rank as high on the list of

Forbes 400 The ''Forbes'' 400 or 400 Richest Americans is a list published by ''Forbes'' magazine of the wealthiest 400 American citizens who own assets in the U.S., ranked by net worth. The 400 was started by Malcolm Forbes in 1982 and the list is publ ...

richest Americans as they once did, their wealth continues to grow. Many families increased their holdings by investment strategies such as the pooling of resources. For example, the

Rockefeller family The Rockefeller family () is an American industrial, political, and banking family that owns one of the world's largest fortunes. The fortune was made in the American petroleum industry during the late 19th and early 20th centuries by brothe ...

's estimated net worth of $1 billion in the 1930s grew to $8.5 billion by 2000—that is, not adjusted for inflation. In 60 years, four of the richest families in the United States increased their combined $2–4 billion in 1937 to $38 billion without holding large shares in emerging industries. When adjusted for inflation, the actual dollar wealth of many of these families has shrunk since the '30s. From a private wealth manager's perspective, "old money" can be classified into two: active "old money" and passive "old money". The former includes inheritors who, despite the inherited wealth at their disposal or that which they can access in the future, choose to pursue their own career or set up their own businesses.

Paris Hilton Paris Whitney Hilton (born February 17, 1981) is an American media personality, businesswoman, socialite, model, and entertainer. Born in New York City, and raised there and in Beverly Hills, California, she is a great-granddaughter of Conra ...

and Sir Stelios Haji-Ioannou are examples of this category. On the other hand, passive "old money" are those who are the idle rich or those who are not wealth producers. "Old money" contrasts with the ''

'' and '' parvenus''. These fall under the category "new money" (those not from traditionally wealthy families).

Europe

The

Rothschild family The Rothschild family ( , ) is a wealthy Ashkenazi Jewish family originally from Frankfurt that rose to prominence with Mayer Amschel Rothschild (1744–1812), a court factor to the German Landgraves of Hesse-Kassel in the Free City of F ...

, as an example, established finance houses across Europe from the 18th century and was ennobled by the

Habsburg The House of Habsburg (), alternatively spelled Hapsburg in Englishgerman: Haus Habsburg, ; es, Casa de Habsburgo; hu, Habsburg család, it, Casa di Asburgo, nl, Huis van Habsburg, pl, dom Habsburgów, pt, Casa de Habsburgo, la, Domus Hab ...

Emperor and

Queen Victoria Victoria (Alexandrina Victoria; 24 May 1819 – 22 January 1901) was Queen of the United Kingdom of Great Britain and Ireland from 20 June 1837 until Death and state funeral of Queen Victoria, her death in 1901. Her reign of 63 years and 21 ...

. Throughout the 19th century, they controlled the largest fortune in the world, in today's terms many hundreds of billions. The family has, at least to some extent, maintained its wealth for over two centuries. The Rothschilds were not, however, considered "old money" by their British counterparts. In

Britain Britain most often refers to: * The United Kingdom, a sovereign state in Europe comprising the island of Great Britain, the north-eastern part of the island of Ireland and many smaller islands * Great Britain, the largest island in the United King ...

, the term generally exclusively refers to the

nobility Nobility is a social class found in many societies that have an aristocracy (class), aristocracy. It is normally ranked immediately below Royal family, royalty. Nobility has often been an Estates of the realm, estate of the realm with many e ...

- that is, the

peerage A peerage is a legal system historically comprising various hereditary titles (and sometimes non-hereditary titles) in a number of countries, and composed of assorted noble ranks. Peerages include: Australia * Australian peers Belgium * Belgi ...

and

landed gentry The landed gentry, or the ''gentry'', is a largely historical British social class of landowners who could live entirely from rental income, or at least had a country estate. While distinct from, and socially below, the British peerage, th ...

- who traditionally live off the land inherited paternally. The British concept is analogous to good lineage and it is not uncommon to find someone with "old money" who is actually poor or

insolvent In accounting, insolvency is the state of being unable to pay the debts, by a person or company ( debtor), at maturity; those in a state of insolvency are said to be ''insolvent''. There are two forms: cash-flow insolvency and balance-sheet i ...

. By 2001, however, those belonging to this category—the aristocratic landowners—are still part of the wealthiest list in the United Kingdom. For instance, the

Duke of Westminster Duke of Westminster is a title in the Peerage of the United Kingdom. It was created by Queen Victoria in 1874 and bestowed upon Hugh Grosvenor, 3rd Marquess of Westminster. It is the most recent dukedom conferred on someone not related to the ...

, by way of his

Grosvenor estate Grosvenor Group Limited is an internationally diversified property group, which traces its origins to 1677 and has its headquarters in London, England. It has a global reach, now in 62 international cities, with offices in 14 of them, operated on ...

, owns large swaths of properties in London that include 200 acres of

Belgravia Belgravia () is a Districts of London, district in Central London, covering parts of the areas of both the City of Westminster and the Royal Borough of Kensington and Chelsea. Belgravia was known as the 'Five Fields' Tudor Period, during the ...

and 100 acres of

Mayfair Mayfair is an affluent area in the West End of London towards the eastern edge of Hyde Park, in the City of Westminster, between Oxford Street, Regent Street, Piccadilly and Park Lane. It is one of the most expensive districts in the world. ...

. There is also the case of

Viscount Portman Viscount Portman, in the County of Somerset, is a title in the Peerage of the United Kingdom. It was created on 28 March 1873 for the former Lord Lieutenant of Somerset and Liberal Member of Parliament Edward Portman, 1st Baron Portman. He h ...

, who is the owner of 100 acres of land north of

Oxford Street Oxford Street is a major road in the City of Westminster in the West End of London, running from Tottenham Court Road to Marble Arch via Oxford Circus. It is Europe's busiest shopping street, with around half a million daily visitors, and as ...

. In France, the "200 families" controlled much of the nation's wealth after 1815. The "200" is based on the policy that of the 40,000 shareholders of the Bank of France, only 200 were allowed to attend the annual meeting and they cast all the votes. Out of a nation of 27 million people, only 80,000 to 90,000 were allowed to vote in 1820, and the richest one-quarter of them had two votes.Alan B. Spitzer, "Restoration Political Theory and the Debate over the Law of the Double Vote" ''Journal of Modern History'' 55#1 (1983) pp. 54–7
online
/ref>

Influences on popular culture

The ITV television series ''

Downton Abbey ''Downton Abbey'' is a British historical drama television series set in the early 20th century, created and co-written by Julian Fellowes. The series first aired in the United Kingdom on ITV on 26 September 2010 and in the United States on P ...

'' frequently contrasts the differences between Old Money and

New Money ''Nouveau riche'' (; ) is a term used, usually in a derogatory way, to describe those whose wealth has been acquired within their own generation, rather than by familial inheritance. The equivalent English term is the "new rich" or "new money" ( ...

in Britain during the early 20th century. Notably between the newspaperman Sir Richard Carlisle and the heiress Lady Mary Crawley, the distinction being the aggression of the ''

parvenu A ''parvenu'' is a person who is a relative newcomer to a high-ranking socioeconomic class. The word is borrowed from the French language; it is the past participle of the verb ''parvenir'' (to reach, to arrive, to manage to do something). Orig ...

'' Sir Richard and the ''

noblesse oblige ''Noblesse oblige'' (; ; literally “nobility obliges”) is a French expression from a time when French (more specifically, Anglo-Norman) was the language of the English nobility, and retains in English the meaning that nobility extends beyo ...

'' of the Crawleys. Perhaps the most famous critique of the tension between Old Money and New Money in American literature can be found in

F. Scott Fitzgerald Francis Scott Key Fitzgerald (September 24, 1896 – December 21, 1940) was an American novelist, essayist, and short story writer. He is best known for his novels depicting the flamboyance and excess of the Jazz Age—a term he popularize ...

's ''

The Great Gatsby ''The Great Gatsby'' is a 1925 novel by American writer F. Scott Fitzgerald. Set in the Jazz Age on Long Island, near New York City, the novel depicts First-person narrative, first-person narrator Nick Carraway's interactions with mysterious mil ...

''. The characters in possession of old money, represented by the Buchanan family (Tom and Daisy), get away with murder; while those with new money, represented by Gatsby himself, are alternately embraced and scorned by other characters in the book. Fitzgerald vastly critiques people in possession of old money through his narrator Nick Carraway: "They were careless people, Tom and Daisy—they smashed up things and creatures and then retreated back into their money or their vast carelessness or whatever it was that kept them together, and let other people clean up the mess they had made."

United States

Europe

Influences on popular culture

See also

References

Further reading

United States