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The past, the present, the future: self-portrayals of wealthy business owners in the media

Author

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  • Wallaschek, Stefan
  • Waitkus, Nora

Abstract

The super-rich rarely discuss their lives in public. On the occasions where they do, they provide interesting insights into self-legitimization strategies. In this article, we study the discursive construction of wealth accumulation through themes, drawing on the sociology of cultural processes in the (re-) production of inequality. We use interviews with wealthy German family-business owners in media outlets between 2014 and 2019. Applying thematic analysis, we demonstrate that these wealthy business owners discursively link the past, present, and future of their family and business. By doing so, they emphasize hard work to explain family wealth transitions and how such wealth is accumulated across generations. This temporal self-narration about business success tied to family structure creates a powerful discursive strategy to legitimize their wealth. Our findings contribute to the emerging field of media studies on wealthy dynasties and the super-rich.

Suggested Citation

  • Wallaschek, Stefan & Waitkus, Nora, 2025. "The past, the present, the future: self-portrayals of wealthy business owners in the media," LSE Research Online Documents on Economics 127351, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:127351
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    File URL: http://eprints.lse.ac.uk/127351/
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    References listed on IDEAS

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    1. repec:osf:socarx:6msuf_v1 is not listed on IDEAS
    2. McGovern, Patrick & Obradović, Sandra & Bauer, Martin W., 2023. "In search of a Tawney Moment: income inequality, financial crisis and the mass media in the UK and the USA," LSE Research Online Documents on Economics 123556, London School of Economics and Political Science, LSE Library.
    3. Pfeffer, Fabian T. & Waitkus, Nora, 2021. "The Wealth Inequality of Nations," SocArXiv 6msuf, Center for Open Science.
    4. Binderkrantz, Anne Skorkjær & Bonafont, Laura Chaqués & Halpin, Darren R., 2017. "Diversity in the News? A Study of Interest Groups in the Media in the UK, Spain and Denmark," British Journal of Political Science, Cambridge University Press, vol. 47(2), pages 313-328, April.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    Germany; media; public discourse; thematic analysis; wealth inequality; wealthy family business owners;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • D63 - Microeconomics - - Welfare Economics - - - Equity, Justice, Inequality, and Other Normative Criteria and Measurement
    • L20 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - General
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility
    • Z13 - Other Special Topics - - Cultural Economics - - - Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification

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