Are Rich People Really That Selfish? – New Study Looks At Impact of Socio-Economic Status on Altruistic Tendencies

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The rich may often be portrayed as egotistical and even evil, but a new study by and reveals that not all upper-class people live up to the stereotypes.

The rich may often be portrayed as egotistical and even evil, but a study by Queendom reveals that not all upper-class people live up to the stereotypes.

Are the rich more selfish? Not really, Queendom study reveals.

Money doesn’t make a person more or less selfish.

It’s hard not to paint the filthy rich with the same dirty brush; especially when tabloid honorees leave tongues wagging with stories of exorbitant spending that could feed a small country. Does that mean that money really is the root of all evil? Do all rich people have an inner Scrooge? Not so, according to researchers at

Having money may not necessarily imply that a person has an ego. Actor Will Smith, with a supposed net worth of 200 million, couldn’t have said it better when he spoke these insightful and candid words, “Money and success don’t change people; they merely amplify what is already there.” So does having money make a person more egoistic or altruistic?

According to data collected by Queendom with their Egoism/Altruism Test, there isn’t a great deal of difference between classes.

Here are some highlights from the study, comparing low, middle and high socio-economic status people in terms of altruistic or egoistic behaviors.

Regularly do favors for others without being asked:

  •     People of low socio-economic status: 61%
  •     Middle: 59%
  •     People of high socio-economic status: 58%

Believe that favors they do for others should be returned:

  •     Low socio-economic status: 15%
  •     Middle: 14%
  •     High socio- economic status: 16%

Will only do something nice for others for personal gain:

  •     Low socio-economic status: 9%
  •     Middle: 8%
  •     High socio-economic status: 10%

Find it easy to put themselves in someone else’s shoes:

  •     Low socio-economic status: 67%
  •     Middle: 70%
  •     High socio- economic status: 69%

Feel sympathy when they see someone in pain:

  •     Low socio-economic status: 81%
  •     Middle: 80%
  •     High socio- economic status: 78%

Feel bad when they see someone less fortunate:

  •     Low socio-economic status: 67%
  •     Middle: 66%
  •     High socio- economic status: 65%

Readily make themselves available when someone needs help:

  •     Low socio-economic status: 69%
  •     Middle: 66%
  •     High socio- economic status: 67%

Genuinely enjoy helping people:

  •     Low socio-economic status: 83%
  •     Middle: 83%
  •     High socio- economic status: 82%

Have helped someone in order to get on the person’s good side:

  •     Low socio-economic status: 33%
  •     Middle: 31%
  •     High socio- economic status: 38%

Donate to charities on a regular basis:

  •     Low socio-economic status: 14%
  •     Middle: 20%
  •     High socio- economic status: 29%

If they found a wallet on the street (containing money and credit cards):

  •     Low socio-economic status: 6% would keep the money and throw the wallet out.
  •     Middle: 4% would keep the money and throw the wallet out.
  •     High socio- economic status: 5% would keep the money and throw the wallet out.

“Our personality impacts every aspect of our life – the choices we make, the people we surround ourselves with, the career we pursue, the way we respond to life experiences, the way we manage our finances, and whether or not we share our good fortune,” explains Dr. Jerabek, president of the company.

“When we hear stories of people who have won the lottery and then lost it all, it’s not just a result of poor money management; rather, it’s a by-product of their personality. Perhaps they have problems controlling their impulses. Perhaps in their desire to show off their new-found status, they go overboard and spend much more than they should – or buy ridiculous things. Or maybe they aren’t the saving-for-the-rainy-day type, and spend like it’s their last day on Earth. So guess what happens? They lose all their money, and end up even more broke than they were before they won. Essentially, how individuals conduct themselves when they have money has everything to do with who they are as a person. Money doesn’t make a person more or less selfish. If you are a genuinely kind and giving person, you’ll continue to be that way no matter how many zeros are on your paycheck.”

Interested in discovering whether you’re an egoist or an altruist? You can take the test at

Professional users of this assessment (HR professionals, therapists, coaches and consultants) can request a free demo of this or any other tests from ARCH Profile’s extensive battery:

About is a subsidiary of PsychTests AIM Inc. is a site that creates an interactive venue for self-exploration with a healthy dose of fun. The site offers a full range of professional-quality, scientifically-validated psychological assessments that empower people to grow and reach their real potential through insightful feedback and detailed, custom-tailored analysis.

About PsychTests AIM Inc.:
PsychTests AIM Inc. originally appeared on the internet scene in 1996. Since its inception, it has become a pre-eminent provider of psychological assessment products and services to human resource personnel, therapists, academics, researchers and a host of other professionals around the world. PsychTests AIM Inc. staff is comprised of a dedicated team of psychologists, test developers, researchers, statisticians, writers, and artificial intelligence experts (see The company’s research division, Plumeus Inc., is supported in part by Research and Development Tax Credit awarded by Industry Canada.

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Ilona Jerabek
PsychTests AIM Inc.
+1 514-745-3189 Ext: 112
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