Island Versus Mainland

At a dinner party over the wekeend, the following statement was made: "The old school money, very rich people are actually based on the mainland and live quiet content lives, and the Island is mostly full of nouveau riche people who recently ran into money and feel like they have a point to make.

So, we pose this question: Where will you find old school money - Mainland or Island?

Lets discuss. (But pls no arguments, and we must respect each others views.)