How the world’s richest people signal their wealth in 2024: Diamonds are out, Lays crisps are in – and chain bags 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 simple foods and seemingly inconspicuous jewelry.

When it comes to handbags, the 0.1% are abandoning visible signs of wealth, opting instead for accessories known only to insiders, 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] Permanent and you say to yourself, ‘OK, this guy is playing a different game,'” an anonymous Wall Street banker told the publication.

That Patek Philippe watch isn’t as visible or as well-known as a Rolex, but its price is much steeper, with a starting price of $106,640.

Meanwhile, the world’s richest women are ditching flashy gems like diamonds and emeralds, declaring they are “too 1980s flashy and flashy”.

Instead, they’re preoccupied with “the weight of gold,” according to journalist Holly Peterson, who says billionaires “favor chains thick enough to secure a bicycle to a lamppost.”

“The solid charm necklaces from Foundrae are purposely designed to hang coins and medallions on special links high up on the keybone,” Robinson writes, adding that “the gauche screen is off” and “a more subtle set of cues and indicators”.

What’s more, the uber-rich love to pair high and low when it comes to their food, giving the impression that they’re fussy about the finer things.

“You have to act like the big things in life aren’t big,” explains Robinson. “When you can wrangle people in your apartment, serve a tub of Ossetra caviar with Lay’s chips. Put it like guacamole on the coffee table.”

But while anyone can get their hands on a bag of Lays, there are bonus points for rarity.

“You want the one of which there are 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 said. “The most limited edition of the 10 is the bespoke SV Burford Edition. You can actually live it.â€

In the US, cars can also serve as a symbol of status and wealth, although for New York’s upper classes, driving is not always the preferred mode of transportation.

When it comes to vacations, it’s how you get to your destination that counts, with an emphasis on private flying and owning your own plane.

“OK, so you went to St. Louis. Barts. So what? That means nothing to me. How did you get there? That’s the key,” a former Wall Street bank executive explained anonymously to The Journal.

And don’t bring too many ziplock bags, because it’s a dead giveaway that you’re poor.

“Avoid too much chain luggage because when you fly privately, [because] you don’t even need to lock your bags,” Robinson writes in The Journal. “Anything you like can be placed in an empty space or in the back. Pack like you’re loading your stroller for a weekend trip: a few bags of clothes and lots of stuffed bags.

Meanwhile, “quiet luxury vacations” are the hottest hidden wealth trend as of late, according to CNBC.

“Dropping hundreds of thousands of dollars on extravagant getaways that include heli-skiing in Antarctica or a polar bear safari in a remote area of ​​Norway,” is currently loved by billionaires, the site reports.

Jetsetters prefer to vacation where tourists don’t, the media claims, with an emphasis on exclusivity and privacy.