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[quote=Anonymous]I went to one of the Texas schools you mention and can tell you, there's a huge, wide range of wealth.  Yes, there are many billionaires and multimillionaires in the state (and in the South); however, there is also a huge phenomenon of what I've heard called the &quot;$200,000 millionaires.&quot;  Meaning, people who make around $200K, probably a little more, and live like they're really wealthy.  For example, growing up, our neighbor's house was worth about $500K (probably worth about $1.2M now), but he owned three Ferraris.  Perhaps he bought a much cheaper house than he could afford, but seeing this kind of thing was pretty common.

I went to both high school and college with a bunch of &quot;$200k&quot; types.  They usually tend to graduate from one of the &quot;top&quot; public schools (Memorial in Houston, Highland Park in Dallas, Alamo Heights in San Antonio and Westlake in Austin).  Their parents paid &lt; $600k for their homes back in the day and used the money they saved paying for private school on fancy cars, perhaps even a BMW or C-Class Mercedes for the kids, designer purses, etc.  Many have second homes and country club memberships.  These people live it up like they're rich, but they're not in the East Coast sense of the world.

Most of the sorority/fraternity clan comes from this type.  However, there are the true, truly, truly wealthy types at these schools.  It's usually new/newish money (oil money from grandparents', possibly even great grand-parents', generation or sooner).  Meaning families with hundreds of millions or even billions.  They make up the minority, but you'll definitely run into them if you're in the Greek crowd.  I dated a guy in college who had his own plane (didn't share it with his parents, literally, his own plane).  They're a different breed from East Coast wealthy- usually more materialistic but also more fun.

Then there is Old South wealth in places PP mentioned like New Orleans or Charleston.  Definitely not on the same level of wealth as the Texas Big Rich money or East Coast old money.[/quote]

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