Pity the rich kids of Instagram

Rich kids showing off their wealth on Instagram is a sad cry for attention.

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Almost 5,300 people worldwide joined the ranks of the so-called ultra high-net-worth individuals last year, says a report by Knight Frank. Which means more competition among buyers of upmarket real estate, from great estates to vineyards, ski chalets and riding stables.

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MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.