Is there old money in Phoenix? (Scottsdale, Paradise Valley: transplants, real estate, colleges)

[New Horizons]

Are there well known established families out there that have a lot of accumulated old wealth? Some people refer to this is as old money:
Old money - Wikipedia, the free encyclopedia

I think of it as more of an eastern thing for some reason. I have a bunch of relatives in Lexington, KY. They're sitting well, their wealthy, the kids go to the best colleges, they're even involved in the horse racing scene to some degree. And every generation pretty much stays put there. With Phoenix, I think of more recent transplants, certainly not families that run generations deep. I guess I kind of like that about Phoenix. Couple that with the general landscape of Phoenix, and it seems like the perfect place for a fresh start.

[cab591]

Lot of new money in Scottsdale. I haven't seen much old money out here, but then again they blend in a lot more than new money.

Moderator cut: snip

[Ponderosa]

There are many families here with deep roots and a lot of money. They are the descendants of the Mormon pioneers who came here many years ago. Many of them made a fortune in real estate development. They wield considerable power and influence, especially in the east valley cities. Some of their names are the names of streets out that way that at one time were the roads to their farms.

[Howard Roark]

Perhaps the Goldwaters?

[Alexico]

maricopa is #4 in terms of Top 10 U.S. Counties With The Most Millionaires

Top 10 U.S. Counties With The Most Millionaires

id def say there is some old money in phx. plus being the fifth largest city bound to have old money

[ji603]

I would disagree, and say that there's not a lot of old money around here - definitely not in the Eastern sense of the term. Real estate, orthodontistry, and ambulance chasing just about covers where the money comes from around here - maybe throw in the odd MD or restaurateur here and there.

I think that Scottsdale is the epitome of nouveau riche, or is that too gauche of me?

[oldtrader]

Those that are familiar with Phoenix over the past 75 years, realize what has always been known. There have always been quite a lot of people in Phoenix and especially the Eastern Suburbs with money.

The difference between the East and West, is in the East people flaunt their money, and in Phoenix people don't flash it around. Goldwaters were named above, and were just one of those old families with money.

For the past 100 years people with money have been moving to the Phoenix area, for the Sun and often for health. Doctors used to send people to Phoenix with TB and other respiratory problems. The ones that came, were often bringing old money to Phoenix from the East, etc. As the air is no longer clean, they don't do this like they used to.

They did not come up with Phoenix has so many millionaires for nothing. They are there, you just do not realize it. East flash your wealth, West except for Southern California and Hollywood etc., they don't flash it around.

[grmi66]

They've already been mentioned, but the Goldwaters are the first obvious choice. Can't remember the name of the family, but read an article about them a few years ago. They are a Chinese family that at one time owned most of the land in what is now Paradise Valley. From what I remember they keep a low profile and about the only place you see their name is on the occasional real estate sign for one of their projects.

Don't know if any of them are still around but the heirs to the Wrigley fortune and one of the big meat packing fortunes from Chicago used to live in the Biltmore area.

Think a better question may be if any of the pioneer families are still around. Used to work for a guy whose great-grandfather was one of the first governors of Arizona. Family was successful, but not old money in the classic sense.

[observer53]

Originally Posted by ji603

I would disagree, and say that there's not a lot of old money around here - definitely not in the Eastern sense of the term. Real estate, orthodontistry, and ambulance chasing just about covers where the money comes from around here - maybe throw in the odd MD or restaurateur here and there.

I think that Scottsdale is the epitome of nouveau riche, or is that too gauche of me?

I think the whole post is a bit off. Yes, there are some very wealthy people here in terms of real estate, medicine, and law, but I'm confident that the sources of the money range far wider than just those fields. And some of the very wealthy out here are likely from the same families as the "old money" in the east. Those who have indicated that it's harder to find those old money people out here in terms of knowing who and where they are are correct, IMO.

[EDnurse]

The state is only 100 years old. Compare that to the original 13 colonies, and I would say that although there is a lot of money here, it isn't the "old money" of the East. Ex: the Rockefellers, the Duponts, the Vanderbilts, etc.