@DeepaBeesKit Your money is earned; naturally you want to conserve it. If you obtained it through illicit means, maybe you would want to spend as much of it to make the most of it because deep down you know you will get exposed one day.
www.scmp.com/week-asia/politics/article/2147614/malaysias-former-first-lady-becomes-bag-lady-why-rosmah-mansors
Also maybe not even through illicit means, Carrie Symonds spent over 100k on a flat renovation budget in a flat that she might not even live in the next 6 months! It wasn't her money, she didn't care.
As for the billionaire class, they have a limited number of years left on this earth. Their descendants are already well provided for. Jeff Bezos' netw orth increases by $142,667 per minute. tick tock tick tock, he just earned another 100k. He is too stingy to give it away, but his wife is giving away her share, and she still keeps getting richer every minute because when you have wealth like that, it keeps growing even if you literally throw dollar bills at people. And yes a lot of it is in stock, but such vast wealth means that he can afford to buy anything he likes.
So yes not only are there rich people with bad taste, there are people related to rich people with bad taste. People in the same league as Jeff Bezos could literally organize huge convoys of their friends/relatives/acquaintances to buy up the whole of balenciaga and they still wouldn't have spent their wealth. And there are people who aren't even billionaires but they have at their disposal millions or even billions as they are from corrupt countries. Like Rosmah. She once filled up a plane with all her shopping, and I can't believe that everything would have been nice and tasteful. Some would have looked pretty ridiculous but she probably didn't even notice it on the bill. When you fill up an entire plane, how do you keep track.
People say the middle class are out of touch with the working class but to me, they aren't the problem. they are a group of people whose spending power is decreasing by the day. there is so much wealth in the world that the average middle class consumer who buys boden and joules is a literal peasant in comparison