How can you tell is someone is faking wealth?

[Teadrinker11]

When the hell is someone genuinely wealthy rather than just trying to be all flash but when in truth there's no real money behind the facade?

Although it’s worth noting that we now live in this insTagram culture where actually a lot of people with genuine wealth share what they have eg Tamara Ecclestone, Laura Wills

@Fluffymule

My FIL has private plane money. He literally wears what are essentially handbags because it’s just another way to flaunt his wealth. I think it’s absolutely down to the individual. He is a short man though so I suspect he does have a bit of little man syndrome

Why does it matter if someone is faking wealth?

I tend to think people who don't show wealth apart from a Ferrari or Bentley etc aren't wealthy. Those cars depreciate massively in value so it's far easier to pick one of them up vs a 2 plus million pound house. If you look outside very expensive expensive cars they tend to have bog standard cars.

I live in Switzerland. Consistently one of the richest countries in the world and the one with the most millionaires. Michael Schumacher lives in our canton on a giant estate. People certainly drive flash cars. We’ve got a Range Rover (live on a mountain) and they are 10 a penny. Actual fancy cars are Bentley & Maserati 4x4s, supercars, Aston Martins, Audi R8s. They also wear flashy watches (Patek Philippe not Rolex). And designer clothes. There are many outward displays of wealth. Not really any talking about it though. It’s obvious the place is full of cash, no need to state it.

Most people are comfortable here but there is also a disproportionate number of ultra HNW types, who certainly don’t hide their wealth.

@JellybabyGina87

People that go on about what they have. A friend of mine went on about her house and car and her amazing job where she was very high up. Turns out the house was rented, she got sacked and lost the car because it was a company car and had to go out and buy an old banger. I'm not impressed by wealth and I'm not wealthy myself. I don't own a house or car so maybe it was to make me feel bad.

Absolutely. My brother-in-law's partner constantly drones on about how "posh" (his favourite word) their lifestyle is. Photos of the airport lounge on social media, photos of their trips to "posh" restaurants. So tiresome. Actual wealthy people just quietly get on with their lives.

@MadameHeisenberg

This is a lot more in line with my experience. Then of course people try very very hard to emulate this!

Genuinely interested in why you think anyone would lie on an anonymous internet forum?

Surely this is the one place you can be totally open and honest?

Yes Giraffesandbottoms there are lots of examples that simple don't fit the 'millionaire drives a battered old Volvo with dog hair on the seats' examples (although they also do, of course, exist).

I was thinking of Pippa Middleton married to multi-millionaire James Matthews, living in a £17m London home. She might not be footballers wife ostentatious, but she's not hiding her wealth in F&F bargains or ancient M&S clothes either.

The brands she wears, the brands she chooses for things she's photographed with like children buggies, cars etc - they are wealth signifiers in themselves.

@Fluffymule

Exactly!

@MintyFreshBreath

Is this about the Tinder Swindler?

I was just thinking the same!

I agree that it shouldn't matter if someone is faking it. We shouldn't admire the hoarding of money. JK Rowling has just knocked herself off the Forbes rich list by donating to charities. They should be spending their money, we need people spending money. Theatre trips are great, but most of the jetting off does nothing for our economy.

Look at their bank statements? 😁

An attitude that Nothing is impossible or off limits is what sets apart my truly wealthy friends.

See a car you like - just buy it.

Want to visit somewhere - fuel the plane

Large and regular entertaining both at home and at venues - no thought to cost just book it!

Many many holidays in amazing hotels and locations!

MNs have really outdated views on wealth. Lots of very rich people are quite happy to flaunt their wealth, wear designer labels etc.

Also why is someone who inherited their estate & title somehow classier than a footballer? Let's not forgot what some of their ancestors did to get their wealth for one!

@Giraffesandbottoms

I don’t know how people could really emulate this level of wealth without really being actually wealthy though. We’re highly-paid but there’s no way we could justify dropping 30k on a watch. And we couldn’t afford an Aston Martin (well, I suppose we could if we saved for a few years but why bother?). People who buy Aston Martins just go and buy them, they don’t save up! (Well the vast majority anyway, I guess). And the villas by the lake (Geneva) are 20+ million for even piddling ones (plus you need a min 20% deposit here and no debts to get any mortgage) so waaaay beyond the likes of even the average ‘high earners’.

Although it’s worth noting that we now live in this insTagram culture where actually a lot of people with genuine wealth share what they have eg Tamara Ecclestone

Prime example, we know she's not poor & yet she's posting pics of her holidays & Birkens!

I think it’s utter rubbish that wealthy people don’t spend their money. People are spending on property, holidays etc. the pippa Middleton example is a good one. She’s hardly slumming it in rags and driving a battered old Volvo.

Wealthy people are not a homogeneous group. People act differently, as do all people. So no way of knowing unless they tell you!

@MadameHeisenberg

They can’t emulate, but they certainly try to. It was extremely telling to me the last time I went to Bond Street and saw the type of people queuing outside particular brands (and not outside others). There is obviously a large subsection of people who do things like blow 2k on a Gucci bag but live in a shitty flat. It’s just that it’s fairly clear pretty quickly once you get to know someone, id imagine, if that’s what’s going on (to answer the OP’s original question).

It’s absolutely not possible to go much further than that to try to “fake wealth”. But I think on MN a lot of people have not been around genuine wealth so don’t understand what it is (I don’t mean that in a patronising way - I grew up wealthy in general terms but in no where near the same league as my in laws and it’s absolutely fascinating to me. It’s another planet).

The pippa Middleton example is a great one - she also strikes me as someone who would be more ostentatious if it weren’t for Kate’s image!

Do people really rent Air BnBs for photos though? To give the impression they live in fancy places that they actually don’t? Surely this can’t really be a thing - what is to be gained from it?

@Somersetlady

Genuinely interested in why you think anyone would lie on an anonymous internet forum?

Surely this is the one place you can be totally open and honest?

Are you new here? Mn is a hotbed of highly imaginative and industrious trolls. When they’re not boring on about their five privately-educated lawyer children and the plebs looking up their private access road during lockdown walks, they’re on about their multimillionaire DHs or titled ILs who bounce about the estate in dog hair-bedizened tweeds and are so cash-poor they live in the servants’ wing and are still barely able to keep the wolf from the portico.

Mumsnet is desperate to believe that wealthy people are always understated and reserved and don't brag, whereas the people with flash cars, holidays and clothes are all poor and doing it on the never-never because they want everyone to notice them and they're pretending to be rich.

In reality, there are bragging flashy people and people who just quietly get on with things in in both (and any other) groups. Some very wealthy people are not at all subtle about it.

@MadameHeisenberg

I’ve never heard of that but I guess I can believe it. We live in pretty crazy times!