Children of the Yuan Percent: Everyone Hates China’s Rich Kids
The fuerdai, China’s second-generation rich kids, are the most loathed group in the country. They’re also its future.
Emerging from a nightclub near Workers’ Stadium in Beijing at 1:30 a.m. on a Saturday in June, Mikael Hveem ordered an Uber. He selected the cheapest car option and was surprised when the vehicle that rolled up was a dark blue Maserati. The driver, a young, baby-faced Chinese man, introduced himself as Jason. Hveem asked him why he was driving an Uber—he obviously didn’t need the cash. Jason said he did it to meet people, especially girls. Driving around late at night in Beijing’s nightclub district, he figured he’d find the kind of woman who would be charmed by a clean-cut 22-year-old in a sports car.
When I heard this story from a friend who had also been in the car, I asked for the driver’s contact info. I introduced myself to Jason over WeChat, China’s popular mobile app, and asked for an interview. He replied immediately with a screen shot that included photos of women in various states of undress. “Best hookers in bj :),” he added. I explained there had been a misunderstanding, and we arranged to have coffee.
When we met at a cafe in Beijing’s business district, it was clear that Jason, whose surname is Zhang, was different from other young Chinese. He had a job, at a media company that produced reality TV shows, but didn’t seem especially busy. He’d studied in the U.S., but at a golf academy in Florida, and he’d dropped out after two years. His father was the head of a major HR company, and his mother was a government official. He wore a $5,500 IWC watch because, he said, he’d lost his expensive one. I asked him how much money he had. “I don’t know,” he said. “More than I can spend.” So this was it: I had found, in the wild, one of the elusive breed known in China as the fuerdai, or “second-generation rich.”
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