Nouveau Riche

Nouveau Riche: A person who has suddenly risen to a higher economic status but has not gained social acceptance of others in that class; characteristic of someone who has risen economically or socially but lacks the social skills appropriate for this new position.

Nouveau riche (French for "new rich"), or new money refers to persons who acquire wealth within their generation. It is generally used to emphasize that the persons were previously part of a lower economic or social class, and that the acquisition of wealth has provided the ability to do or to have things that were previously out of their reach.

As sophisticated as the term sounds, nouveau riche, has been given a new definition and grandeur within the 21st century. This cultural shift in attitude towards the nouveaux riches began through the example of President Ronald Reagan, as stated by Nelson W. Aldrich Jr. in his 1988 work “Old Money: The Mythology of America’s Upper Class.” Aldrich states that Reagan as a self-made man surrounded himself with other self-made men, who had transcended society’s class ladder. Many believed that Reagan was an “embodiment” of the new money movement as seen through his election on the “right-wing politics characteristic of the Sunbelt nouveaux riches.” Reagan encouraged the embracing of the “Market Man” and further encouraged greater efficiency in corporate America through the use of the hostile take over. In the dawn of the rise of Silicon Valley, entrepreneurship has become appreciated for its underlying hard work and goal of greatness.