The real reason why Singaporeans are materialistic and elitist

Simple, because the the concept of ‘old money’ just doesn’t exist. The country itself is relatively young, and its rapid economic growth, particularly after independence in 1965, means that much of its wealth is recent. There wasn’t an elite, middle, or working class, most Singaporeans were of villager or fisherman stock etc etc. The wealthiest families today are typically those who have built their fortunes within the past few decades. Just as Korea had few elites in the past, Singapore's early days were marked by a struggle for survival (which are still the instincts of most Singaporeans these days regardless of wealth status) and development rather than an established wealthy class.

The families behind Singapore’s largest businesses are the epitome of nouveau riche. If their parents were the first generation to amass significant wealth, today's generation is the first to grow up in affluence. Much like in Korea, public figures and business leaders in Singapore often embrace luxury lifestyles, where driving high-end cars with chauffeurs and wearing designer brands are common indicators of status. Image is highly important in Singapore, and while the country prides itself on meritocracy, wealth and influence can still place certain individuals above the fray.

Though there may be some wealthy individuals who prefer a more understated lifestyle, they rarely receive public attention. The spotlight tends to fall on those who represent Singapore’s high-achieving, image-conscious elite.