These are the 3 types of super-rich people you will meet in Kenya and their peculiar spending habits

An urban legend has it that you don’t know the true character of an individual until they came across money.

An urban legend has it that you don’t know the true character of an individual until they came across money that is when their true personality comes out.

Just like in any high society, in Kenya too there are different classes of super-rich individuals all who flaunt their luxury differently.

The ‘‘parvenus’’

These groups of super-rich individuals are people who want to associate themselves with other rich people and distinguish themselves from have-nots.

They believe it will eventually rub on them and finally they too will make it when they ‘grow up’.

Majority of Kenya’s super rich fall in this category, yes! they are rich and can afford a six course meal at Villa Rosa Kempinski and later fly to Zanzibar for dinner but in true sense they are toddlers in the world of luxury.

They are yet to learn the prestige or manners associated with being super-rich and so they are learning the ropes through sampling famous exotic places frequented by the super-rich.

The super secretive Ultra-rich

Once you attained this class of riches you have officially arrived, what Kenyans like to refer as ‘Kufika’.

In Abraham Maslow's hierarchy of needs these group of individuals are at self-actualization stage.

They  have prime properties strategically scattered across the globe and spend the year globe-trotting from one destination to another.

They mainly buy and collect luxury assets for personal enjoyment and not for their potential to grow in value, to show off, intellectual curiosity or as a safe haven for capital, a Knight Frank survey further says.

“Most of us look at assets from the perspective of earning some kind of a return. The ultra-rich can afford to buy trophy assets and only for their own delectation,” Aly-Khan Satchu, CEO of advisory firm Rich Management says.

These types of individuals highly value their privacy and understandably, prefer to keep information about their investments and assets to themselves after all old money is quiet.

You will bump into them in those quiet Nairobi exclusive pubs and with your poverty clouded mindset easily dismiss them as nobodies as you proceed to order drinks for everyone.

The ‘‘poseurs’’

This type of super-rich individuals are the most frowned upon class. They are media hungry and insist on shouting from the rooftop about their ‘few pennies.’

You don’t need to do much digging to find them; they parade themselves on social media for all and sundry to see.

They go for big logos like designer shoes and clothes and flaunt their toys and apartment on social media.

They strongly believe money accords them respect, without money they are nobodies.

Mr. Satchu says that flaunting riches is a phase experienced mostly by individuals who have only recently come into money.

“The nouveau riche want the world to sit up and take notice. The ultra-rich have already transitioned through that moment and prefer discretion and typically the company of their peers,” Mr Satchu says.

He adds that those that maintain their wealth eventually evolve beyond this phase and opt for secrecy and a low-profile life that involves interacting with their peers in exclusive environments.

JOIN OUR PULSE COMMUNITY!

Eyewitness? Submit your stories now via social or:

Email: news@pulselive.co.ke