Growing up with a royal lineage from the Safavid Dynasty and Cilician Crusader ancestry, I have often reflected on the interplay of wealth, heritage, and values. My journey from a privileged Iranian heritage to an ex-Muslim, Christian conservative LDS Priest in America has provided me with a unique perspective on the stark differences between those with old money and those with new money.
These differences go far beyond finances; they are rooted in culture, education, and the responsibilities of wealth. While new money may focus on status and immediate gratification, old money prioritizes legacy, humility, and a deep sense of stewardship.
The Heritage of Old Money
Old money refers to wealth that has been passed down through generations. This type of wealth often comes with an emphasis on tradition, education, and a strong moral foundation. Those with old money typically understand that their wealth is not solely theirs but a trust to be managed for future generations.
Growing up in an Iranian family that valued education, respect for elders, and tradition, I saw firsthand how wealth can be used to uplift communities. My ancestors in the Safavid Dynasty were not just conquerors; they were builders of civilization, fostering art, architecture, and religious tolerance in their time. This sense of responsibility has always distinguished old money from new.
The Christian LDS values I hold today echo this sentiment, emphasizing the importance of legacy and service. Wealth is not just for personal gain but is seen as a blessing to be shared and preserved, much like the LDS teachings about consecration and the stewardship of resources.
The Mentality of New Money
New money, by contrast, is often associated with individuals who have recently acquired wealth. While this wealth may be earned through hard work and innovation, it frequently lacks the grounding influence of heritage and tradition. As a result, new money often seeks validation through conspicuous consumption, lavish lifestyles, and public displays of affluence.
During my time as an executive director of CAIR-Columbus and president of the Muslim Forum of Utah, I witnessed countless individuals seeking rapid political or social influence by leveraging their newfound wealth. Often, this pursuit came at the expense of long-term values and genuine relationships.
New money tends to focus on immediate personal gratification rather than considering how that wealth could be used to build a sustainable legacy. Without the grounding influence of faith, tradition, or community, this wealth often leads to a hollow sense of fulfillment.
The Role of Faith and Character
Old money families, like my ancestors, often relied on faith to guide their actions. Whether through Islam in my heritage or Christianity in my current faith, the emphasis on stewardship and humility is key. Wealth without character becomes a destructive force.
My personal journey from being a pagan, vegan socialist to embracing Christian conservatism has taught me that true wealth is not in material possessions but in one's character and faith. Proverbs 22:1 teaches, "A good name is more desirable than great riches; to be esteemed is better than silver or gold." This principle has guided old money families for generations and distinguishes them from the often fleeting values of new money.
Building a Legacy That Lasts
The LDS emphasis on family history and genealogy has further reinforced the importance of legacy in my life. As a Freemason and Christian conservative, I view wealth as a tool to preserve freedom, faith, and family. Old money families are often seen as the custodians of cultural and national identity, while new money, though dynamic, often lacks this grounding.
In a world increasingly driven by consumerism and fleeting trends, we must teach the next generation the values of stewardship, humility, and long-term thinking. Wealth, like faith, is a responsibility, and its misuse can lead to personal and societal decay.
Conclusion
The differences between old money and new money are not merely about how wealth is acquired but about how it is perceived and used. Old money builds legacies; new money often chases illusions. My heritage, faith, and experiences have taught me that true wealth lies in the character and values that guide its use.
As heirs to both spiritual and material blessings, we must ask ourselves: Are we building legacies that will inspire future generations, or are we squandering our wealth on temporary pleasures? The answer lies in the principles we choose to uphold.
Citations
- Proverbs 22:1, Holy Bible, New International Version.
- Clayton M. Christensen, The Power of Everyday Missionaries: The What and How of Sharing the Gospel, Deseret Book Company, 2012.
- Richard V. Reeves, Dream Hoarders: How the American Upper Middle Class Is Leaving Everyone Else in the Dust, Why That Is a Problem, and What to Do about It, Brookings Institution Press, 2017.
- "Legacy of the Safavid Empire," Iran Chamber Society, http://www.iranchamber.com/history/safavids/safavids.php.
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