The New Elite: Inside the Minds of the Truly Wealthy
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We are all fascinated by them - that enigmatic class of people often referred to as the rich. In our fantasies, we envision them living in extreme luxury in million dollar mansions, cruising on yachts and jetting off to exotic locales at a moments notice. In "The New Elite", the authors reveal what drives our country's most powerful and influential class, what they want, where they shop and how they really spend their money. With candor and unique insight, they reveal that the people who drive our economy are not Ivy-league educated, luxury seeking socialites. Today's power elite no longer have last names like Rockefeller, DuPont, and Vanderbilt and they aren't necessarily in the limelight. Nearly half of them attended state schools and most of them come from poor or middle class backgrounds.While they include luminaries like Bill Gates, David Geffen, Ralph Lauren and Donald Trump, they may also include the small business owner next door. Based on thorough research and unprecedented access, "The New Elite" uncovers the five classes of America's new wealthy - including those who struggle with its implications, those who refuse to let it change them, and those who give it away and how each of them is changing our culture and economy. Often surprising and eminently entertaining, this is an enlightening and illuminating look at America's real ruling class, the profound ways they have redefined what it means to be rich, and the very real ways they are reshaping our country and our world.
in each context. Wealth, for all its beneﬁts, has cost them childhood friends and makes them potential targets (for marketers and ne’er-do-wells alike). Dressing down is one element of stealth wealth; private indulgences are another. The wealthy do indulge—both monetarily and otherwise—but it is typically done privately or in environments There’s a New Sheriff in Town 61 where they know they will be surrounded by people of similar ﬁnancial means. Many have ‘‘gala clothes’’—designer fashions
61 High-deﬁnition television (HDTV) 72 Television larger than 40 inches 69 LCD or Plasma Flat Screen TV 63 Digital video recorder (DVR, TiVo) 59 Surround-sound speaker system 51 XM or Sirius Satellite Radio at home or in your car 36 Centrally wired system to distribute music throughout house 28 Direct TV 25 Dedicated in-home theater room 23 98 The New Elite public indicator of wealth. Taken as a whole, the picture becomes clear that luxury for the wealthy is much more about
from easy mornings, to lunches at the club or on the boat, to white-tie beneﬁts for the little lady’s favoritest [sic, intentionally and ironically] charity. We know the drill.’’ They are perhaps best known for the custom slippers they created for the Pope and the British Royal family (and for you, starting at $900 a pair). Those who spend $75,000 for a Range Rover, but use it only to drive to the supermarket are also likely to spend $500 for a highquality yet inconspicuous Barbour barn jacket.
accomplishments have these and other positive beneﬁts if they are intrinsically motivated— that is, when they are pursued in accordance with the child’s own interests and values.2 Intrinsically motivated endeavors are pursued with greater excitement and passion. They are associated with more creativity and determination and with rebounding from setbacks rather than giving up as a result of them. And perhaps most important, intrinsic motivation is associated with positive outcomes such Tab le 10
still edgy Dennis Hopper preaching ‘‘the thing about dreams is . . . they don’t retire’’ with his usual intensity, all of which can barely be heard over the strains of the 60s rock anthem, ‘‘Gimme Some Lovin’.’’) Of course, for most baby boomers, ﬁnancial necessity plays a considerable role in their ‘‘decisions’’ to reinvent themselves during their golden years. Three-fourths don’t feel ﬁnancially prepared for retirement, and those who plan to continue working are typically more likely to cite