How the world’s richest people signal their wealth in 2024: Diamonds are out, Lays chips are in — and bags with zippers make you look poor
A bag of Lays and a $106,000 watch?
In an age where quiet luxury reigns supreme, the ultra-rich have found new and subtle ways to signal their status, opting for unassuming snacks and seemingly inconspicuous jewelry.
When it comes to wristwear, the 0.1% are abandoning obvious markers of wealth, instead opting for accessories only recognized by those with inside knowledge, according to a new report from The Wall Street Journal.
“You see a gold Rolex Daytona, that’s one thing. You see a Patek [Philipe] Perpetual and you say to yourself, ‘OK, this guy’s playing a different game,'” one anonymous Wall Street banker told publication.
That Patek Philipe timepiece isn’t as obviously flashy or as well-known as a Rolex, but its price point is far steeper, with a starting price of $106,640.
Meanwhile, the wealthiest women in the world are ditching shiny gemstones like diamonds and emeralds, proclaiming that they’re “too go-go 1980s and flashy.”
Instead, they’re preoccupied with “the weight of gold,” according to reporter Holly Peterson, who says the billionaires “favor chains thick enough to secure a bike to a lamppost.”
“Hefty charm necklaces from Foundrae are purposely designed to hang coins and medallions on separate links up the collarbone,” Robinson writes, adding that “gauche display is out” and “a subtler set of cues and signifiers is required.”
Additionally, the uber-wealthy want to pair high and low when it comes to their snacks, giving the impression that they’re nonchalant about the finer things.
“You must act like big things in life are, well, no biggie,” Robinson explains. “When you can wrangle people to your abode, serve a tub of Ossetra caviar with Lay’s potato chips. Place it out like guacamole on the coffee table.”
But while anyone can get their hands on a bag of Lays, there are bonus points for rarity, too.
“You want the thing that has only 10 in existence,” British author Plum Sykes told The Journal.
“In England, with Range Rovers, the company invites people to buy them, like a Centurion Card or a table at the Met Gala,” she stated. “The highest limited edition of 10 is the bespoke SV Burford Edition. You could actually live in it.”
In the US, cars can also serve as a symbol of status and wealth, although for the upper echelon of New York, driving isn’t always the preferred mode of transportation.
In the case of vacationing, how you get to the destination is what matters, with an emphasis on flying private and owning your own jet.
“OK, so you went to St. Barts. So what? That tells me nothing. How’d you get there? That is key,” explained a former Wall Street bank chairman anonymously claimed to The Journal.
And don’t bring too many bags with zippers, because it’s a dead giveaway that you’re poor.
“Avoid too much luggage with zippers because when you fly private, [because] you don’t even need to close your bags,” Robinson writes in The Journal. “Anything you like can be placed on an empty seat or in the back area. Pack as if loading your station wagon for a weekend trip: a few garment bags and lots of stuffed tote bags.”
Meanwhile, “quiet luxury vacations,” are the hottest stealth wealth trend as of late, per CNBC.
“Dropping hundreds of thousands of dollars on extravagant getaways that include heli-skiing in Antartica or a polar bear safari in a remote area of Norway,” is currently beloved by billionaires, the site reports.
Jetsetters prefer vacationing where tourists don’t, the outlet alleges, with an emphasis on exclusivity and privacy.
