Guest
Dubai's reputation for fast and furious opulence is a red flag for many in the world's “Old Money” elite. For them, Dubai's flaunting of riches and unabashed commercialism is like serving Dom Pérignon in a plastic cup at the Ascot races—Utterly horrifying. --------------------------------------------------- Why “Old Money“ British Families Sold London To Oligarchs: --------------------------------------------------- The Wealth of Royal Families: How Modern Monarchies Make Money: --------------------------------------------------- TIMESTAMPS: 0:00 Introduction 1:00 1. They Don’t Like The People 6:15 2. They Don’t Like The Investment Strategy 9:15 3. They Don’t Like The Flashy Behavior 13:13 4. A New “Old Money” Class? --------------------------------------------------- Welcome to today's episode of Old Money Luxury, where we delve into a fascinating topic that has been stirring debate among the elite circles of society: the love-hate relationship between the world's Old Money aristocracy and the sparkling city of Dubai. Dubai, often dubbed the “new money“ capital of the world, is a hotspot of modern wealth and innovation. Here, skyscrapers and luxury cars are as commonplace as desert dunes. But why does this haven of nouveau riche draw such skepticism from the Old Money elite? 👥 Human Element: The Old Money elite don't just see wealth as a balance sheet; it's a complex network of multi-generational relationships and social alliances. Families like the Kennedys and Roosevelts have nurtured these relationships for generations. Dubai, a city known for its transience and diverse population, struggles to provide the same stable social network that Old Money families are accustomed to. 📚 Education and Social Circles: In Old Money hubs like Boston, London, or even San Francisco, lineage members often share educational backgrounds, attending prestigious institutions like Harvard or Oxford. In contrast, Dubai lacks such culturally embedded educational systems and long-standing social clubs. 📈 Investment Strategies: Old Money families are typically conservative investors, focusing on assets that provide long-term stability. Dubai's economy, in contrast, thrives on high-risk ventures like luxury real estate and cryptocurrencies—sectors that are often volatile and speculative, making them less appealing to conservative investors. 💰 Financial Advisors: Old Money families often work with specialized financial advisors well-acquainted with their investment goals and profiles. Dubai's financial sector is more generalized, lacking this level of personalization. 🎭 Cultural Institutions: In Old Money circles, patronage of the arts and philanthropy are not just about tax breaks but also about investing in long-lasting cultural legacies. Dubai still lacks these long-term cultural pillars that are integral to Old Money lifestyles. 🕶️ Discretion vs. Display: Old Money families value privacy and discretion, while Dubai is a spectacle of public life filled with high-profile events and ostentatious displays of wealth. 🔒 Privacy Concerns: The Old Money ethos places a premium on privacy and personal space. Dubai's extensive security and surveillance measures can sometimes feel invasive to those who highly value their privacy. 📸 Media Attention: Old Money families often seek out quieter locales where they can avoid media scrutiny, another factor that makes Dubai less appealing to them. So, could Dubai ever attract the Old Money elite? Time will tell, but for now, the differences in investment strategies, cultural values, and lifestyle preferences make the city less appealing to those who have been wealthy for generations.
