Why flaunt opulent lifestyles?

While it may have been PBBM’s exposé, in his State of the Nation Address that triggered the unraveling of the DPWH flood-control corruption scandals, the earlier ostentatious display of the lifestyles of the DPWH officials, politicians’/contractors’ families, nepo-children, especially of the Discayas, Quirantes, and other contractors, were/are the other major factors that blew up, the now far-reaching and politically-destabilizing corruption investigations. Some of the atrocious videos of the mansions, cars, jewelry, designer accessories may have been taken months before the exposé and replayed/re-shown later, but these are all over social media fueling the Filipino people’s anger towards the politicians, DPWH officials, contractors, and some senators and congressmen.

I recently watched in YouTube the expensive celebrity houses in the Philippines costing ?300 million to ?700 million, and also footage of the Billionaires Row house in Baguio, and wondered why are some rich people purposely display their ostentatious lives. Bloggers and influencers who generate income from their posts have reasons, but for rich couples and their children to post expensive travel junkets complete with overpriced dinner bills and party expenses is puzzling.

There is a natural human tendency for people to announce and celebrate their achievements and accomplishments. In our materialistic worldly environment, these are done by showing off material possessions/lifestyle and the ability to afford them. On the other hand, there are people who have reached economic/financial levels of success, but live lives far below their economic capacity, and even give away most of their wealth to charitable/research institutions. These are old rich and newly rich families who can or have all the trappings of wealth, but enjoy them privately and don’t announce them to the world.

In my work as an investment banker, I have joined billionaire clients in Asia in their homes, stayed in 6-star hotels and dined with them in expensive places. Their houses are beautiful and appointed with priceless adornments in good locations. I remember having lunch in a house in downtown Taipei, dinner in the plushest house in Jakarta, staying in 6-star hotels in Hong Kong and Hanoi for meetings, and never got the feeling of the clients flaunting their wealth. Some of them came from humble beginnings, one telling me he was a truck driver after World War II. They lived ordinary lives even with their wealth.

There is actually a small proportion or number of people who flaunt their wealth and lifestyles. Their main motivation is self-congratulation, reward for achievement and the admiration of their peers and social group. They usually invite their friends/relatives to their extremely lavish homes and show off their possessions, which is human nature. It is when they want a wider/larger audience, which is now possible with the internet/social media, that it becomes objectionable, as the wider audience includes people in the lower social/economic groups whose annual income cannot pay for the cheapest car in their garage. The disgust increases when these displays are done by hired promoters and publicists.

The bloggers/influencers who are initially motivated to flaunt their wealth and lifestyles to get more followers are also afflicted with their need for a wider socio-economic affirmation to prove to themselves that they have arrived at that level of wealth and social acceptance. Continuing on this road may not be the best direction for them, against the background of the current wealth and income distribution of the Filipino people, and at a time of anger, distrust, and condemnation of the ill-gotten wealth of politicians, government officials, and contractors.

I wonder if the Discayas have realized the social, political, and economic tsunami that they have helped unleashed, and if they should be appreciated for the videos of their opulent lifestyle.