The answer to this question depends on how we define and measure arrogance. Some dictionaries define arrogance as an “attitude of superiority manifested in an overbearing manner,” while others define it as “an unjustifiable attitude of superiority.”
In the first definition, the judgement of someone as “arrogant” is (like beauty) in the eye of the beholder. One person might judge a person who rhapsodizes about the power of his exotic car as flaunting his wealth and displaying arrogance, while another might not make this attribution. With this first definition of arrogance it is difficult to measure arrogance as a quantifiable variable, so correlation is difficult to establish through measurement. However, it’s safe to say that wealthy people will often be perceived as arrogant (according to the first definition) because any descriptions of luxury homes, elegant possessions or lavish trips may appear to many of those of lesser economic means as “overbearing.” Psychologists refer to this as
relative deprivation
.
However, with the second definition, we can compare a person’s perception of their abilities with their performance, giving us a more measurable assessment of whether they are arrogant. Some people, equating a person’s value with their net worth, chase the dollar and dedicate themselves to accumulating wealth. Members of that group, who ultimately succeed in acquiring a large net worth, are likely to feel superior to those of lesser means, and would therefore qualify as arrogant according to the first definition, but perhaps not according to the second definition.
In the early 1960’s, when boxer Muhammad Ali (then known as Cassius Clay) claimed, “I’m the greatest!” many people deemed his behavior as arrogant and paid substantial money hoping to see him pummelled into humility. But, on February 25, 1964, Ali defeated Sonny Liston and became the heavyweight champion of the world. Muhammad Ali, went on to prove that he was the greatest boxer in the world at that time, so he may have been judged arrogant by the first definition, but not by the second.
The discussion about arrogance and wealth is further complicated by the fact that a person may be arrogant about their wealth, but humble about other attributes, such as intelligence. For example, Sir Richard Branson, founder of the Virgin group of companies, has a net worth of about $4.5 billion, accumulated through a series of risky investments and insightful initiatives. His outgoing, swashbuckling demeanor might convince some that he is arrogant about his wealth, but Branson openly admits that he’s dyslexic and that school was a difficult challenge for him. He also emphasizes the importance of treating people with respect no matter their wealth or social position.
Many of those who have achieved great wealth may have been arrogant according to the first definition, but not the second. Was Elon Musk arrogant when he proposed to create a rocket capable of reaching Mars, while all his friends told him it was a pipe dream? Jobs, Bezos, and Gates, en route to achieving wealth, had to believe that they could achieve what most people thought was impossible, and in so doing, placed their head above all others. When they achieved their goals, they proved themselves free of the kind of arrogance described in the second definition. As Larry Bird, one of the greatest basketball players of all time, once asserted, “It ain’t bragging if you can back it up.”
