Is there a difference between old money and new money?

Do you think there's a difference between old money and new money?

As in someone who grew up wealthy compared to someone who became wealthy?

What is the difference?

I personally think there is a huge difference.

Obviously not everyone is the same and I'm not saying this is true for everyone. But the majority of old money people I've known are generally more generous and humble, and rather discreet about their wealth. Whereas new money tend to be more stingy, arrogant and flashy.

Do you agree? Do you think there is a difference?