Rich and the Famous
I don’t know if you have heard of the term Nouveau Riche. It is actually used for social class distinctions between those who acquired their wealth in his or her generation and those people who came from families who has been wealthy for multiple generations. Nouveau Riche means “new money” in English. The first time I heard of the term was in the movie Titanic. It was used as a derogatory term for Rosie O’donell’s character by Kate Winslet’s social class who were the “old money” in the movie. I wonder how the people in the past would react now that there are a lot of parvenus (people who has recently or suddenly risen to an unaccustomed position of wealth or power and has not yet gained the prestige, dignity, or manner associated with it) like Rosie O’donell’s character. “New money” people like Ronald Reagan and the likes of David Filo and Jerry Yang who are the creators of Yahoo!. I bet they will be raising their eyebrows even higher when they hear of a university that was named Nouveau Riche whose sole purpose is to help individuals who want to improve their socioeconomic standing through investing in the real estate industry, which is one of the most lucrative industries these days not only in the US but all over the world.
So how do they do it? They do it through courses that were designed to teach their students “how-to” real estate investment concepts and strategies. Understand the advantages and disadvantages of several short-term and long-term real estate investment strategies. On a personal note, I admire Nouveaux Riches more for they acquired their wealth through their own abilities. Although, I’m not saying that those whose families remained rich all these time shouldn’t be admired. It’s just that the recognition to “old money” shouldn’t go to just one individual. The recognition should go to their family for it was a shared effort to keep their status.
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