In the most simple of terms, old money is money that has been around for a long time and new money is money that was created within the last few years. However, we’re not talking about the printing process.
The dichotomy between New Money and Old Money is a fundamental element of social understanding. It is a field of social science study of human relationships.
Generally, “Old Money” is a reference to a social class commonly known as the “upper class” or “privileged class.” It is usually associated with inherited wealth or generational wealth.
The first American multi-millionaires left descendants who inherited great wealth even after their ancestors gave away much of their wealth to philanthropic organizations. That wealth has been distributed, in some cases diluted or dissipated among multiple generations.
Perhaps never. If it is not sustained and built on but rather dissipates or is squandered before it can survive multiple generations, new money will never see the day it is considered old money.