China is home to countless billionaires and the children of these ultra rich people are living the life.
These group of young adults who are kids to the ultra rich are known are “fu er dai”, which literally translates to “rich second generation”.
“Fu er dai”s are known to spend their money on whatever they want, whenever they want. Most would take it to social media to flaunt their [parents’] wealth, being seen living the luxurious life.
Some of the children have attitude issues that there has been public backlash and once, the president was even forced to intervene.
Some “fu er dais” would take pictures of them burning money, well, just because they can. That picture would symbolize how wealthy they are that they can just burn away tons of cash.
Actually you might as well give to me!
Their instagram pictures usually consist of pretty similar pictures. Showing off good food, luxurious cars, pampered holiday travels, shopping spress and of course, stacks of cash. Basically, just ballin’ it up.
Last year, Chinese President Xi Jinpin tried to deal with these “fu er dais” by ordering 70 “fu er dais” of billionaire parents to be sent to a “social responsibility” retreat to teach them the value of money. Those who showed up late were fined $150.
Fu er dais usually are unemployed and happy spending their rich parents’ money or do passive business investments. There are also the ones who pursue their own passion, and with money anything is possible. Such as creating your own fashion label, producing your own album and much more.
Wang Daqi, author of the book “Children of Wealth,” told the Daily Mail that most fuerdai went through childhood loneliness:
“There seemed to be a lack of parenting when they were growing up. They usually study abroad and their parents tend to feel guilty, then show redemption by giving more and more money to them.”
“One fuerdai I interviewed, who works in Sichuan province, grew up away from his parents. He hated being alone so when he became an adult he always hung around with around 20 people over weekends. When he went to the cinema he’d buy 30 tickets.”
“He had a Land Rover but had a crash so he bought two Hummers, for safety. He had a Ferrari but he got bored with it so he gave it to his wife. She used it to drive to the supermarket for grocery shopping.”
Wang told the Mail that he believes that government intervention will not be effective:
“It won’t work. An example: I was at a banquet organized by the government in Macau last month. It was designed for rich second generation kids, to bring them together [with government officials]. But the rich kids just ended up playing drinking games with red wine and didn’t even talk to the officials.”
I guess there isn’t really any saving the “fu er dais” but their parents themselves.
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