The Myth of Old Money in America: Were WASP Elite Descended from British Royalty?

The idea that the old money families of America, often referred to as the WASP (White Anglo-Saxon Protestant) elite, were descended from British royalty or nobility is a common misconception. However, this belief is far from accurate. In reality, these wealthy families gained their status through American social and economic conditions, often starting with nothing and building their fortunes over many generations.

Introduction to Old Money Families

The term "old money" refers to wealthy families that have maintained their economic stability for generations. In American society, these families are often associated with the WASP elite, who are predominantly white, Anglo-Saxon, and Protestant. It is important to understand that while these families have achieved great wealth and influence, their origins are very different from those of British royalty or nobility.

European Nobility and the Decision to Migrate

Those who came to North America from Europe in search of wealth were typically middle and working-class individuals. True nobility and the wealthy elite of the old country would have been foolish to uproot their lives and migrate to a new and dangerous world. Even younger sons of powerful men and#xA0;distantly related to aristocracy, who were effectively the poorest members of their family, would have struggled to make the transition to American life.

Imagine being a lord, lady, knight, or squire in Britain, living in a luxurious manor or a grand residence in London. You have trained staff, servants, and access to the finest goods from all over the world. Life in Britain was one of luxury and prosperity. Migrating to a wild and uncertain frontier would have been a drastic and difficult decision for these individuals.

The Attraction of the New World

The allure of the "New World" was particularly strong for those who had nothing, especially in Europe. The opportunity to claim land and build a future in a vast, untapped wilderness was a significant draw. In contrast, the European frontier had long since closed, with the land being predominantly owned by the ruling class. The New World offered a chance for new generations to build their fortunes from scratch.

Historically, the first billionaires in America, such as Andrew Carnegie and John D. Rockefeller, arrived with nothing. Their ancestors did not have great fortunes when they migrated. Instead, they worked hard and built their empires over time. Other wealthy families, like the Vanderbilts, accumulated their wealth gradually through successful mercantile ventures. The Vanderbilts, for example, started with nothing and their great fortune was only established after a few generations.

Rebutting the Myth of British Aristocracy

Consider the case of Cornelius Vanderbilt. He became the richest man in America, and at one point in the world, through his roll in the railroad industry. However, his Dutch ancestor who first came to America was an indentured servant, similar to a slave. This fact underscores the stark reality that the Vanderbilt family, like many other wealthy American families, built their fortunes through hard work and perseverance, not through inherited titles or wealth.

Conclusion

The wealth of the American WASP elite was not handed down from British aristocracy. Instead, these families achieved their status through determination, innovation, and sometimes even humble beginnings. Understanding this history is crucial for a deeper appreciation of American society and its development.