Throughout history, societies have been deeply divided by the concentration of wealth. The ultra-wealthy often occupy a sphere that appears disconnected from the everyday lives of most people. Critics argue that certain aspects of extreme wealth contribute to societal inequities and foster negative attitudes.

One of the most pervasive reasons for hating on extreme wealth is the glaring economic inequality it represents. In many countries, a small percentage of the population controls a disproportionate share of resources. Many argue that this concentration of wealth is symptomatic of an unfair system in which the rich not only accumulate money but also shape economic policies to safeguard their interests.

Through campaign donations, lobbying, and direct investments in political ventures, the ultra-rich often have a louder voice in shaping policy than your average citizen. This disproportionate influence can undermine democratic processes. When policies appear to favor corporate interests or the needs of the few rather than the many, public trust in governance is eroded.

Another frequent criticism of wealthy people is the perception that they exhibit a sense of arrogance or entitlement. Living in a world that is starkly different from that of ordinary people, some rich people appear to be disconnected from everyday struggles. This social and emotional disconnect can manifest in behavior that seems insensitive to, or dismissive of, the problems faced by the majority of the world’s communities.

Critics of the wealthy also focus on how some people amass their wealth. There is growing global discontent over the belief that a significant portion of extreme wealth is built on exploitative business practices. Reports of companies that prioritize profit over the welfare of workers, the environment, or community development, contribute to the negative image of rich folks.

In many social circles, the rich are perceived as belonging to an exclusive club—one that values cultural capital and often reinforces class divides. Wealthy individuals might frequent private clubs, send their children to exclusive schools, and engage in social activities that are inaccessible to most. These behaviors reinforce the idea that the rich live in a different world, one that is out of touch with the realities most of us face.

Occupy Wall Street (OWS) was a grassroots protest movement that began in September 2011 in New York City’s Zuccotti Park and quickly spread to cities across the United States and around the world. The movement emerged in response to growing economic inequality, the perceived undue influence of large corporations on government, and the aftermath of the 2008 financial crisis.

Many protesters felt that the government had failed to hold Wall Street accountable for practices that contributed to economic instability. Central to their message was the idea that the system favored a tiny, elite “1%” at the expense of the vast majority, often referred to as “the 99%.” This phrase encapsulated the movement’s call for a fairer distribution of wealth and power.

Bored Panda reached out to Dr. Charles R. Chaffin to get his take on wealth and the wealthy. When we asked him whether he thought the media and social platforms exaggerate negative stereotypes about wealthy people, or whether these perceptions are based on reality, he had this to say, "The portrayal of wealthy individuals in the media and on social platforms is often exaggerated, largely due to the attention economy."

Chaffin says these platforms thrive on engagement, and narratives that elicit strong emotional responses—such as wealth inequality, corruption, or out-of-touch elites—drive clicks, shares, and comments.

"While some of these stereotypes may be rooted in real issues (e.g., disparities in wealth distribution or ethical concerns in financial practices), the broader picture is often more nuanced," explains Chaffin. 

Chaffin went on to say that our cognitive biases shape our perceptions, including confirmation bias and negativity bias. If people already believe that wealth is associated with greed or exploitation, they are more likely to seek out or engage with content that reinforces these views.

"Meanwhile, the reality is that wealthy individuals, like any demographic, vary widely in their values, behaviors, and societal contributions. The media’s role in shaping these perceptions means that exaggerated narratives often overshadow more balanced discussions about wealth, responsibility, and philanthropy," says Chaffin.

We asked Dr. Chaffin whether he believes there's a shift in how younger generations view wealth compared to older generations.

He says, "Yes, there is a clear shift in how younger generations perceive wealth compared to older ones. Digital environments shape attitudes, and this is particularly relevant to wealth. Millennials and Gen Z, having grown up in an era of financial crises, rising costs of living, and social media exposure, often view wealth less as an aspirational status symbol and more as a means to achieve freedom, security, and well-being."

"Financial socialization can shape attitudes toward money. Unlike older generations who may have equated success with accumulation, younger generations are more likely to prioritize experiences over possessions, sustainability over excess, and work-life balance over relentless wealth accumulation.", he added. 

Chaffin adds, "Social media amplifies both the visibility of extreme wealth and economic inequality, fueling discussions around wealth ethics, corporate responsibility, and systemic change."  

Chaffin concluded that this generational shift suggests that financial professionals must adapt their approach, focusing less on traditional investment strategies and more on aligning financial planning with clients’ values, purpose, and psychological well-being.

As if you needed another reason to dislike the uber-rich, critics contend that the rich are also often insulated from consequences. Whether it’s through legal advantages, high-powered networks, or the ability to hire top-tier defense, there’s a view that the wealthy can escape accountability for unethical or harmful behavior.

Which annoying habits of the ultra-rich in this list resonate with you most? Upvote your worst and don’t forget to leave a comment if the urge grabs you!