New money and old money?

Question

Whats the difference?
I know new money was made later but whats the diffence in business terms?

Answer 1

Old money refers to family's that have been wealthy for generations like the Rockefeller's, Rothchild's, Kennedy's, etc.

New money, or Nouveau riche, is a term, usually derogatory, to describe persons who acquire wealth within their generation, and spend it conspicuously. The concept of nouveau riche is exemplified by many celebrities. Notable examples are Elvis Presley and his Graceland estate, and personalities such as Victoria Gotti and her family. In the UK, the archetype of the nouveau riche is personified by the celebrity couple David and Victoria Beckham, often referred to by the press as "Posh and Becks", whose ostentatiousness has earned them the attention of numerous satirists and social commentators.

In business, terms, I doubt the bank cares if the money is new or old.

There are people that have acquired great wealth during their generation that probably don't fall into the Nouveau riche category, e.g., they don't spend like fools and act like idiots. Look at Bill Gates. He's now probably the richest man in the world. He could probably buy the Rockefeller's these days.

In business terms I don't think theres much of a difference between new money and old money. The terms are used more in social circles and gossip sheets.

Answer 2

Old Money And New Money

Answer 3

If you mean decimals and imperial coin then imperial money was based on the Roman Denarii and was base 12 Meaning that there were 12 pennies to a shilling and 20 shilling to the pound which was 240 pennies in a pound.
Decimals obviously work on base 10 and so are much simpler.
For industry nowadays that would be a good thing as computers can calculate using base 10 much more simply.
Imagine a calculator that worked with 12's instead of 10's.
Even our mental calculations nowadays are so much easier because of decimals.
It could also mean digital money eg credit cards versus cash I suppose

If you mean prosperity I guess it is the old money which was inherited through old and noble families which passes through inheritence
versus new money meaning that earned through working and becoming successful since the industrial revolution

Answer 4

Are you referring to the change to decimalisation in the U.K. which took place in 1971. Prior to then one Pound instead of being divided into 100 new pence, was instead divided into 240 old pence and 12 shillings which was far more confusing. But the value of the Pound between new and old money has never been changed.

It also seems that Britain will never change to the Euro, and those EU Members who have changed deeply regret doing so

Answer 5

I have always regarded "Old Money" as the wealth handed down through the generations from the landed Gentry or the land owners in the UK. New Money was always looked on as the wealth created through business ie from the merchants.

Answer 6

Can I suggest that the question relates to a Government Expenditure.

In these circumstances it means that the money is being sourced from new and not being diverted from another allocation.

Answer 7

I think it refers to the class system. If some has a wealthy family then they are known as old money, if they have made their money recently and do not have a wealthy high class background they are called new money.

Answer 8

new money refers to wealthy people who made their own wealth quickly such as the silicon valley investors. old money refers to inherited money such as the rockefellers and kennedys

Answer 9

NEW MONEY IS PEOPLE WHO WON IT OR EARNED IT DURING THEIR LIFETIME!

OLD MONEY IS IF THE MONEY HAS BEEN IN THE FAMILY AND THEY ARE USED TO HAVING IT!