Most people are aware that some of the world’s billionaires live frugal lives and would rather live simply despite their wealth. However, for every Warren Buffett who prefers to eat $2 breakfasts at McDonald’s, there are those who cruise around in luxury cars decked out in huge jewelry, and the same people are also the ones who are posting pictures online of their assets.
So what’s the difference between the Oracle of Omaha and the ostentatiously rich people that you often see on Instagram? According to Money Mozart, the latter can be classified as “fake rich” or “pretend rich,” and they have a few telling habits that will clue you in on what they truly are.
Here are the habits of the fake rich.
They want you to notice how rich they are
These people often take to social media to post pictures of their mansions, shopping hauls, cars, jewelry, and the like. They even take it to the next level by making sure that their brand new Jaguar is parked on the driveway for everyone to notice, and they often post pictures of them inside private jets.
People who are truly rich do not need validation from others and they are happy with what they have. This is why Buffett still stays in the same 5-bedroom home that he bought in Omaha, and he drives a Cadillac XTS.
They buy the most expensive and ridiculous items
The fake rich buy fur vests and wear it during the summer, and they will never, ever opt for a classic watch. Instead, they’ll go for one that is literally dripping in diamonds. They’ll also buy exotic pets, gold backpacks, Prada bags for their dogs, and they won’t also hesitate to pay a celebrity or a singer to show up at their parties.
They’re always in competition with others
The fake rich always want to one-up another person to prove that they are better and more well off than anyone else. For instance, if the X family buys a Lamborghini, the Z family will buy the latest Bugatti. They are highly insecure and incredibly envious of the buying powers of others.
They wear flashy clothes
The fake rich prefer clothes with labels, and the bigger the logo, the better. They also try to get the latest fashions and wouldn’t be caught dead wearing last season’s “It” shoe.
The truly rich don’t worry about their wardrobe, and some would opt to wear the same thing over and over again. Consider Facebook CEO Mark Zuckerberg, who sticks to a uniform of a gray shirt, dark jeans, and a hooded sweatshirt every day.
They name-drop like there’s no tomorrow
The fake rich will often work the names of famous celebrities or personalities into conversations, and the shameless name-dropping just goes on and on. The truly rich don’t do this, as they don’t feel like they have to impress other people.
For more, check out Jobs & Hire’s report on how to be the most hated person in the office.
