I have published several articles and advised on other articles about this issue.
Before the hereditary elite of America disappeared in 1960, there was a widely used and widely understood term: 'nouveau riche'.
That is the demeaning French for the newly rich. The newly rich have no idea how to spend the astronomic sums of money they earn. The first things they buy are fancy cars. The second thing is expensive and large houses. That is what they have done since cars were invented. Established rich always drove Buicks while the nouveau riche drove flashy Cadillacs in the 1950s.
By being flashy the newly rich in America exposed themselves and their families to kidnapping and social class hostility. The nouveau riche today don't have the same problem because they hire bodyguards and live in gated communities.
In the days of the hereditary upper class, the upper class accepted the responsibility for maintaining good government, well run cities and states and accepted the idea that they were responsible for maintaining social equanimity. They had clubs and tight knit organizations solely for that purpose. They also supported very traditional organizations such as: opera, symphony, ballet, hospitals and academia.
Unfortunately, my beloved commerce, has been generating so much wealth, so fast, that we have a gigantic class of nouveau riche that has no sense of responsibility for maintaining good, stable and responsible government. They give money to the Democrat party.
It will take time, for this class to understand more about how the world works and their responsibility as wealthy people.