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Ha this is a challenging translation. On Twitter etc. people say "rich douchebag", which means a rich, arrogant and obnoxious person. For example there are various blogposts with titles such as "University XYZ is full of rich douchebag kids".
The derogative term 'new money' is somewhat appropriate, although perhaps not familiar to everyone. It used to describe a wealthy person who made their money later and was not from the landed gentry. For example, in the movie Titanic, the large American woman called Molly Brown was described as 'new money' by Rose's mother.
"土豪" is used to describe rich people with low taste or education. "豪" means rich. "土" is a synonym of "俗". In my opinion, "nouveau riche" is the best translation of "土豪". According to google, the definition of "nouveau riche" is: noun: people who have recently acquired wealth, typically those perceived as ostentatious or lacking in good taste. adjective: ...
"土豪" used to mean super rich people but without a good education. Nowadays however, in China we basically called every person who bought something slightly fancy "土豪" without any extra meaning, just for fun. So next time when your friend bought a pair of Air Jordan, you can called him "土豪".
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