As far as style crazes go, TikTok has recently given us cottagecore, chaotic academia, and coastal grandmother. The latest trend to gain over a billion views on the platform are the hashtags #oldmoney and #oldmoneyaesthetic.
The point of this latest fad is to post videos sharing what it takes to look like you come from generational wealth, even if your surname isn’t Rockefeller, Hearst, Carnegie or Tata.
This isn’t the first trend dedicated to faking wealth. Last year, “rich girl skin” and “rich person hair” blew up on the platform, showcasing the likes of Gigi Hadid, Lily-Rose Depp, and Hailey Bieber’s glowing, pore-free visages and sleek locks.
Interestingly, for a Gen Z trend, #oldmoney is overwhelmingly class-conscious and exclusionary, promoting the kind of you-can’t-sit-with-us message that sounded the death knell for preppy brands such as Abercrombie & Fitch, which famously leaned into it and paid the price.
Who is ‘old money’?
“Old money” means different things in different countries.
In the US, old money goes hand in hand with a famous surname. Whether Vanderbilt, Rothschild, DuPont or Astor, old money stateside is concerned with storied ancestry and wealth that was built off the back of the actions of “robber barons” — industrialists and financiers who monopolised industry through exploitation in 19th-century America.
Further, old money inspiration can be found among Truman Capote’s “swans”, the name he gave to the New York socialites who flocked to befriend the Breakfast At Tiffany’s author. They included Babe Paley, Slim Keith, Jackie Kennedy’s sister Lee Radziwill, C Z Guest, Gloria Guinness of the famous beverage dynasty, and Marella Agnelli of the Italian industrialist family.
In the UK, old money is inextricably tied to the aristocracy and landed gentry. Family trees that go back centuries, close relationships with monarchs, grand estates and hereditary peerages. Think anyone with a title, several surnames, a castle and who makes regular appearances in the pages of the aristocratic chronicler Tatler.
Old money tends to marry old money, and keeping wealth within the family remains an inviolable trait across generations.
What is the ‘old money aesthetic’?
An example of the #oldmoneyaesthetic can be found on HBO’s Gossip Girl, in which privileged teens run riot around Manhattan, live in penthouses and mansions, and use their parents’ connections to get out of trouble. Similarly, Elite on Netflix, which follows the lives of private school teens in Spain, including children of marchionesses, diplomats and industrialists, is jam-packed with old money aesthetic.
Old money dresses discreetly, meaning handmade loafers, heirloom pearls and cashmere. If worn at all, designer labels are low-key, think Chanel and Hermes, as opposed to Balenciaga and Dolce & Gabbana.
In the UK, old money is often asset-rich and cash-poor. Holes in jumpers, decades-old Barbour jackets, Savile Row suits: clothes are excellent quality, shoes are handmade, and all are purchased with the understanding that they will be worn until they fall apart.
Women are always immaculately tailored. Elastic waistbands are a no-no, headscarves are de rigueur. Princess Diana and the Sloane Ranger aesthetic, as recently showcased in the Oscar-nominated Spencer, epitomises old money.
Men dress like Gossip Girl’s Nate Archibald or Elite’s Guzman Nunier. Fraternity style rules and Prince Harry is a style inspiration.
New money, nouveau riche and ‘California rich’
Old money has long looked down on and been dismissive of new money. Old money sees itself as having class, new money is viewed as crass; old money is discreet, new money flashes the cash; old money wears great-grandmother’s pearls, new money is head-to-toe in visible brand names.
With the concept drenched in class snobbery, what used to be called “new money” has been renamed “California rich” by Gen Z.
In Legally Blonde terms: Warner Huntington III is old money, while Elle Woods is California rich.
TikTok users have been leaning hard into the comparisons, posting videos asking: “Why be California rich, when you can be Connecticut rich?” alongside images of country manors, polo matches, ponies, dogs and yachts.
Spin-off trends have included “old money names” (William, Henry, Meredith), “old money houses” (gated mansions), and “old money lifestyle” (polo, tennis, charity galas).
Although some fans have fallen hook, line and sinker for an aesthetic steeped in issues of race and privilege, a few voices on the platform point out that problems lie beneath the superficiality of the trend. “As a fashion aesthetic it seems to be something people are very fascinated about because it is sophisticated, it is understated,” says user @stylehard. “But old money is not always pure class.”
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UAE v Gibraltar
What: International friendly
When: 7pm kick off
Where: Rugby Park, Dubai Sports City
Admission: Free
Online: The match will be broadcast live on Dubai Exiles’ Facebook page
UAE squad: Lucas Waddington (Dubai Exiles), Gio Fourie (Exiles), Craig Nutt (Abu Dhabi Harlequins), Phil Brady (Harlequins), Daniel Perry (Dubai Hurricanes), Esekaia Dranibota (Harlequins), Matt Mills (Exiles), Jaen Botes (Exiles), Kristian Stinson (Exiles), Murray Reason (Abu Dhabi Saracens), Dave Knight (Hurricanes), Ross Samson (Jebel Ali Dragons), DuRandt Gerber (Exiles), Saki Naisau (Dragons), Andrew Powell (Hurricanes), Emosi Vacanau (Harlequins), Niko Volavola (Dragons), Matt Richards (Dragons), Luke Stevenson (Harlequins), Josh Ives (Dubai Sports City Eagles), Sean Stevens (Saracens), Thinus Steyn (Exiles)
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Engine: Duel electric motors
Power: 659hp
Torque: 1075Nm
On sale: Available for pre-order now
Price: On request
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Results
6.30pm: Madjani Stakes Group 2 (PA) Dh97,500 (Dirt) 1,900m, Winner: RB Frynchh Dude, Pat Cosgrave (jockey), Helal Al Alawi (trainer)
7.05pm: Maiden (TB) Dh82,500 (D) 1,400m, Winner: Mnasek, Dane O’Neill, Doug Watson.
7.40pm: Maiden (TB) Dh82,500 (D) 1,600m, Winner: Grand Dubai, Sandro Paiva, Ali Rashid Al Raihe.
8.15pm: Handicap (TB) Dh87,500 (D) 2,200m, Winner: Meqdam, Sam Hitchcock, Doug Watson.
8.50pm: Dubai Creek Mile Listed (TB) Dh132,500 (D) 1,600m, Winner: Thegreatcollection, Pat Cosgrave, Doug Watson.
9.25pm: Conditions (TB) Dh120,000 (D) 1,900m, Winner: Sanad Libya, Richard Mullen, Satish Seemar.
10pm: Handicap (TB) Dh92,500 (D) 1,400m, Winner: Madkhal, Adrie de Vries, Fawzi Nass.
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How to watch Ireland v Pakistan in UAE
When: The one-off Test starts on Friday, May 11
What time: Each day’s play is scheduled to start at 2pm UAE time.
TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
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Transmission: eight-speed automatic
Power: 290hp
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Price: Dh155,800
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What is blockchain?
Blockchain is a form of distributed ledger technology, a digital system in which data is recorded across multiple places at the same time. Unlike traditional databases, DLTs have no central administrator or centralised data storage. They are transparent because the data is visible and, because they are automatically replicated and impossible to be tampered with, they are secure.
The main difference between blockchain and other forms of DLT is the way data is stored as ‘blocks’ – new transactions are added to the existing ‘chain’ of past transactions, hence the name ‘blockchain’. It is impossible to delete or modify information on the chain due to the replication of blocks across various locations.
Blockchain is mostly associated with cryptocurrency Bitcoin. Due to the inability to tamper with transactions, advocates say this makes the currency more secure and safer than traditional systems. It is maintained by a network of people referred to as ‘miners’, who receive rewards for solving complex mathematical equations that enable transactions to go through.
However, one of the major problems that has come to light has been the presence of illicit material buried in the Bitcoin blockchain, linking it to the dark web.
Other blockchain platforms can offer things like smart contracts, which are automatically implemented when specific conditions from all interested parties are reached, cutting the time involved and the risk of mistakes. Another use could be storing medical records, as patients can be confident their information cannot be changed. The technology can also be used in supply chains, voting and has the potential to used for storing property records.
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- 600-seat auditorium
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- An elevated football field that doubles as a helipad
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Two months before the first round on April 10, the appetite of voters for the election is low.
Mathieu Gallard, account manager with Ipsos, which conducted the most recent poll, said current forecasts suggested only two-thirds were "very likely" to vote in the first round, compared with a 78 per cent turnout in the 2017 presidential elections.
"It depends on how interesting the campaign is on their main concerns," he told The National. "Just now, it's hard to say who, between Macron and the candidates of the right, would be most affected by a low turnout."
The specs
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Who is Mohammed Al Halbousi?
The new speaker of Iraq’s parliament Mohammed Al Halbousi is the youngest person ever to serve in the role.
The 37-year-old was born in Al Garmah in Anbar and studied civil engineering in Baghdad before going into business. His development company Al Hadeed undertook reconstruction contracts rebuilding parts of Fallujah’s infrastructure.
He entered parliament in 2014 and served as a member of the human rights and finance committees until 2017. In August last year he was appointed governor of Anbar, a role in which he has struggled to secure funding to provide services in the war-damaged province and to secure the withdrawal of Shia militias. He relinquished the post when he was sworn in as a member of parliament on September 3.
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What sanctions would be reimposed?
Under ‘snapback’, measures imposed on Iran by the UN Security Council in six resolutions would be restored, including:
- An arms embargo
- A ban on uranium enrichment and reprocessing
- A ban on launches and other activities with ballistic missiles capable of delivering nuclear weapons, as well as ballistic missile technology transfer and technical assistance
- A targeted global asset freeze and travel ban on Iranian individuals and entities
- Authorisation for countries to inspect Iran Air Cargo and Islamic Republic of Iran Shipping Lines cargoes for banned goods
