Excesses of Global Super-Rich Elbowing Out London’s Aristocracy

Britain's upper class neighborhoods struggle with 'supercar season'

LONDON, ENGLAND - AUGUST 08: A Gold Ferrari Drives through Knightsbridge on August 8, 2014 in London, England. Tourists and car enthusiasts have been flocking to the wealthy London district to see some of the world's most expensive and extravagant super cars. Many of the rich owners from Saudi Arabia and Kuwait come to London to escape the summer heat at home and to show off their cars before moving on to other European cities such as Paris and Cannes. Photo by Dan Kitwood/Getty Images

LONDON—Where rattling horse-drawn carriages once ferried dukes and earls home on summer nights, now squealing golden Ferraris catapult their flashy owners past crowds of tourists wielding camera phones.

London police this weekend started cracking down on supercar boy racers, using powers typically aimed at anti-social behavior. The issue, however, is just one symptom of how inner London has changed as the established upper class is supplanted by a new breed: the international super-rich.

The established British elite are finding it hard to maintain a foothold.

— Roger Burrows, professor of cities, Newcastle University