The hard reality about old money and old wealth

Aerial view of Nairobi city. [File, Standard]

One of the most popular terms in Kenya is "old money." I think it's a misnomer, the correct term should be "old wealth".

Few have defined old money. My definition is any wealth passed from one generation to another. It can be cash but it's usually assets that generate more cash. That includes land, buildings and in rare cases jewellery or art.