Icons of wealth are everywhere in the media. Everybody who is anybody has a luxury car, mansion, yacht, or clothing line. In this world, nobody advertises the fact that they saved money or bought something economical—with an interesting exception. Everybody who is anybody wants to be wealthy, but they also want to be virtuous.
For example, Tesla. Tesla is arguably the world’s most economical car, but it is also premium, luxurious, a statement. It is as morally appealing as it is beautiful.
Maybe this is why words like “renewable,” “ethical,” and “fair trade” dominate the marketplace of luxury. We want the best coffee, and are willing to pay for it, so long as it is “fair trade.” It seems Americans want to be wealthy (rich and powerful), but we also want to feel wealthy (virtuous and generous).
It may be that our wealth, as a nation, has been used against us, guilt-tripping us into seeing wealth as a bad thing.
It may be that our wealth has not satisfied, and the next generation of wealthy are seeking new definitions.
Historically speaking, some have said that humans define wealth as a blend of money, sex, and power. We either want more money to have more sex and power, or we want more power to have more sex and money. Either way, human desires hinge on these three.
For instance, Marvin Gaye. Marvin was an icon of money, sex, and power, but his life, in retrospect, was not wealthy. His marriage ended in divorce, and then in 1976 he filed for bankruptcy. In 1984 he was shot and killed by his Dad, and at the time of his death he owed his wife $300,000 in alimony. This icon of money, sex, and power was cut off at a time when he was anything but wealthy.[1]
Remember Tesla. Elon Musk is not selling cars; he’s selling an idea, a set of values, and he’s modeling his life after them. Elon crushed it with PayPal and has used his young fortune to leverage his ideology. Both Tesla and SpaceX come out of his beliefs, what grounds him as important. Tesla exists in order to conserve the limited resources of this planet,[2] and SpaceX exists in order to broaden the human horizon, literally, in case of disaster.[3]
Instead of amassing wealth for himself, he is redefining wealth, listening to his heart and pursuing goals that are bigger than himself.
Is it a moral wrong to lavish resources on yourself?
Is it a moral right to give your wealth away?
These are matters of the heart. It may be that a person’s wealth depends on the size and scope of his dream and calling, not his net worth. It may be that wealth is a state of mind more than a threshold in an investment account.
To borrow a line from The Lord of the Rings, true wealth is knowing who you are and what you are supposed to do with the time that is given you—regardless of the amount of your resources. Only then, when you have that cause in focus, can you discern when to conserve and when to lavish.
[1] https://www.businessinsider.com/rich-famous-celebrities-who-lost-all-their-money-2018-5#marvin-gaye-the-soul-singer-of-hits-lets-get-it-on-and-i-heard-it-through-the-grapevine-went-bankrupt-because-he-owed-his-ex-wife-alimony-12
[2] https://www.tesla.com/about
[3] https://www.youtube.com/watch?v=ycPr5-27vSI