Last year, I started hearing the phrases “Old Money” and “New Money” from unexpected people. The people who used these phrases were generally well-educated and affluent but not members of the Royal family that earned the label through the multigenerational transmission of money and controversial political conquests.

The confidence with which they described themselves as old money surprised me but I was careful to conceal my shock so they could speak freely. This is what they perceived to be “Old Money” in Kenya.

To them, “Old Money” refers to discreet individuals who are members of private country clubs, send their children to private schools, reside in affluent neighborhoods, and have amassed their wealth through means such as inheritance of real estate, land, farms, and factories. These individuals utilize the term “Old Money” to distinguish themselves from “new money,” as they perceive the latter to be ostentatious and inclined to showcase their possessions, such as newly acquired luxury cars and vacations. “New Money” individuals are those who have acquired their wealth by providing services and products to the government, various entrepreneurial businesses such as nightclubs and bars, working in construction, corporate positions, or newer professions such as social media influencing and content creation. Earning money through unconventional means can lead to vulgar descriptions and invisible disdain from others. A significant number of people in the latter group of “New Money”  lack a college education.

Politics of Exclusion

I was struck by the confidence with which people describe themselves as “Old Money”. Making such a claim is quite daring, particularly when considering our colonization past and the impact of British colonization. The British had amassed some wealth in their home countries, and they accelerated this through slavery and colonization.

Are there any long-standing wealthy families in Kenya who have successfully passed their wealth down through multiple generations (which can range from 20 to 40 years)? (The Bible describes a generation as either 40 years or 400 years).

I will leave you to answer whether we do indeed have “Old Money”  families in Kenya. Or whether we should be preoccupied with finding ways to create a steady path for social and economic mobility for every Kenyan regardless of tribe, community, and socio-economic background. After all, money is money, and it can be blue, black, red, old, and even very new.