19.06.2024

Why 'Old Money' aesthetic trend becomes an obsession in social media?

The 'Old Money' choose to wear brands of items that are rarely heard of and are inconspicuous. They don't want to be seen by the crowd that are obsessed with displaying expensive brand logos to show off their wealth.

By IFANA TUNGGA, Konde.co

Concorso d’Eleganza, Lake Como. Credit: Lake Como Experiences

I first came to know the terms 'old money' and 'new money' when I read Kevin Kwan's Crazy Rich Asian trilogy in 2018. In one of these trilogies (Crazy Rich Asian, China Rich Girlfriend, and Rich People Problems), Kevin Kwan had the opportunity to present the character of an Indonesian conglomerate family that also belongs to the group he calls crazy rich Asians or rich with seven generations.

I remember, after reading these three books I was very interested in the term old money. I also did a little research on old money families in Indonesia. It turns out quite a lot and quite influential in Asia and even the world.

From Kevin Kwan's trilogy as well, I know the history of rich families of Chinese descent who migrated out to get the title of old money. While the rich families in mainland China are usually the new money generation.

When the film and novel Crazy Rich Asian were so popular, the term old and new money which is one of the main topics in the book and film was not really discussed in various reviews and discussions about this film and novel. Maybe because the discussions and reviews at that time mostly focused on the success of Asian representation in Hollywood.

In recent times, old money has become one of the most talked about terms. People want to use brands used by old money. Eating at old money restaurants, participating in sports that old money likes, educating children in old money schools. In fact, I recently saw a video of a real estate agent promoting the house he was selling as an old money house.

Everyone wants to have the aesthetics, lifestyle, and sensibility that old money has.

Aerial view of Villa Sola Cabiati, also called Villa la Quiete | VF

So what's really with this obsession?

With the rise of social media, trends change quickly. These rapidly changing trends, at least in my opinion, always have one common thread: everyone wants to look like a rich person.

Yes, let's be honest, isn't that what all of us who had the desire to have branded goods before the old money fashion trend wanted? The way to look rich is to use a statement piece with a large printed brand logo.

People usually refer to this trend as a loud or noisy trend. Like shouting to everyone around, "Hi, look at the bag I'm wearing is Lady Dior!"

This loud trend went on for some time before people finally realized that those who are really rich never openly shout about their wealth.

The old money trend "first" appeared through social media TikTok, Instagram and Pinterest. It is driven by Gen Z. They previously named this mode as dark academia or light academia.

This fashion style, at least according to businessinsider.com, is a response from the casual outfit that is typical of the style of the new millennial billionaire class. They defy the typical tech CEO style with their hoodies and sneakers.

The Crown Season 6 | Netflix

Perhaps the most obvious example of what we can call old money is the British Royal Family. We can see his life in the Netflix series 'The Crown'. Its first season started airing on November 4, 2016. Now, 7 years and 5 seasons later (the last season was released on November 16).

In connection with that, people can easily see from the inside how the lifestyle and habits of the Royal Family are, in fact, the "real" old money. Starting from equestrian sports, hunting, exclusive clothes designed just for them. Up to the brands that are synonymous with the old money lifestyle.

Even in 'The Crown' itself, a character who wants to be close and enter the circle of the British Royal Family is depicted. That is Mohamed Al Fayed. He hired a former servant of the Duke of Windsor to make him have the same lifestyle as the former King of England.

Then why is this old money style becoming a trend and sold in the market as an aspiration of many young people?

The first reason that I can probably put forward is generation Z's disgust with the very stormy trend of displaying expensive brand logos to display one's wealth. One of the main characteristics of old money is how they use brands that are rarely heard of. Not visible in the clothes or things they use.

Another term that is also used to refer to this lifestyle is quiet luxury alias veiled luxury. People who are really rich don't mean to use branded items to show off their wealth. They are rich, everyone knows that. They don't need recognition. The use of luxury brands is intended for personal satisfaction, comfort when using. And appreciation for the craftsmanship behind an item of clothing or any item they buy.

Another reason I try to think about our increasing obsession with the 'old money' trend is the desire to be considered part of an exclusive environment. Where the people in it have their own culture: they use brands that only "those in the know" understand. Have the same expensive athletic hobby (horseback riding, tennis, or golf), and use the same vocabulary in conversation aka the language of the rich.

The Grand Ball of Princes and Princesses | Credit: Monte-Carlo Société des Bains de Mer

Exclusivity and the desire to be able to understand what is actually in the minds of the richest people in the world may be the driving force behind people's desire to have a lifestyle worthy of the 'old money'. In the end, this is an effort to climb the social ladder to enjoy the lifestyle of the world's 1% group that is difficult to reach for the other 99% of the population.

Beyond these two reasons, of course there are also followers of the 'old money' trend who are purely attracted by the causality and 'simplicity' (but not cheap) of the 'old money' mode. Compared to wearing a shirt with the Fendi logo printed from top to bottom. Some are more comfortable wearing plain t-shirts with small logos and comfortable materials.

Only recently we named it the 'old money' trend. So far, many people have used this mode. They call it by other names such as timeless fashion and so on.

Perhaps the critical question we need to ask ourselves before trying a new mode - no matter what it is - is, what is our purpose? Thirst for what we try to satisfy by following a certain trend? The point is that we should always be aware and critical every time we do something.

IFANA TUNGGA Currently active as Director of the MEREKAM KOTA Program, a public archiving program initiated by SkolMus | Multimedia For All.

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Why 'Old Money' aesthetic trend becomes an obsession in social media?

The 'Old Money' choose to wear brands of items that are rarely heard of and are inconspicuous. They don't want to be seen by the crowd that are obsessed with displaying expensive brand logos to show off their wealth.

By IFANA TUNGGA, Konde.co

Concorso d’Eleganza, Lake Como. Credit: Lake Como Experiences

I remember, after reading these three books I was very interested in the term old money. I also did a little research on old money families in Indonesia. It turns out quite a lot and quite influential in Asia and even the world.

From Kevin Kwan's trilogy as well, I know the history of rich families of Chinese descent who migrated out to get the title of old money. While the rich families in mainland China are usually the new money generation.

Everyone wants to have the aesthetics, lifestyle, and sensibility that old money has.

Aerial view of Villa Sola Cabiati, also called Villa la Quiete | VF

So what's really with this obsession?

With the rise of social media, trends change quickly. These rapidly changing trends, at least in my opinion, always have one common thread: everyone wants to look like a rich person.

Yes, let's be honest, isn't that what all of us who had the desire to have branded goods before the old money fashion trend wanted? The way to look rich is to use a statement piece with a large printed brand logo.

People usually refer to this trend as a loud or noisy trend. Like shouting to everyone around, "Hi, look at the bag I'm wearing is Lady Dior!"

This loud trend went on for some time before people finally realized that those who are really rich never openly shout about their wealth.

The old money trend "first" appeared through social media TikTok, Instagram and Pinterest. It is driven by Gen Z. They previously named this mode as dark academia or light academia.

This fashion style, at least according to businessinsider.com, is a response from the casual outfit that is typical of the style of the new millennial billionaire class. They defy the typical tech CEO style with their hoodies and sneakers.

The Crown Season 6 | Netflix

Perhaps the most obvious example of what we can call old money is the British Royal Family. We can see his life in the Netflix series 'The Crown'. Its first season started airing on November 4, 2016. Now, 7 years and 5 seasons later (the last season was released on November 16).

In connection with that, people can easily see from the inside how the lifestyle and habits of the Royal Family are, in fact, the "real" old money. Starting from equestrian sports, hunting, exclusive clothes designed just for them. Up to the brands that are synonymous with the old money lifestyle.

Even in 'The Crown' itself, a character who wants to be close and enter the circle of the British Royal Family is depicted. That is Mohamed Al Fayed. He hired a former servant of the Duke of Windsor to make him have the same lifestyle as the former King of England.

Then why is this old money style becoming a trend and sold in the market as an aspiration of many young people?

The Grand Ball of Princes and Princesses | Credit: Monte-Carlo Société des Bains de Mer

Only recently we named it the 'old money' trend. So far, many people have used this mode. They call it by other names such as timeless fashion and so on.

Perhaps the critical question we need to ask ourselves before trying a new mode - no matter what it is - is, what is our purpose? Thirst for what we try to satisfy by following a certain trend? The point is that we should always be aware and critical every time we do something.

IFANA TUNGGA Currently active as Director of the MEREKAM KOTA Program, a public archiving program initiated by SkolMus | Multimedia For All.

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