Old money describes wealth that has been passed down from generation to generation over the decades.
The Ford family, of the Ford Motor Company, is known as old money. New money describes wealth that has been amassed in recent history. Microsoft founder Bill Gates has new money, and is known as nouveau riche. Grosse Pointe, Mich., is an exclusive old money enclave just north of the Detroit city limits. Within this lush lakeside suburb you will find massive mansions hidden from the street by aged trees and well-manicured gardens.