Incorrect. Most with wealth are very understated and have no desire to draw attention to themselves. Most flashing the trappings of wealth are faking it.
Those who are truly rich, they look more simple and not excessive. I don't know why I always see this where someone who is actually simple wants to look luxurious, even though we know how they really are.
Usually rich people like that start really from 0, so they know what it's like to be in an unpleasant situation in the economy, so they will act more modestly like you said.
That depends on each person's personality, each person has different interests and lifestyles, and we cannot rely on just a few people we meet to equate them all.
There are also many people who become rich from zero but are very arrogant, like to brag or compare themselves with others. Meanwhile, there are many rich people who don't want others to know they are rich, they live simply and modestly and always try to avoid becoming the center of public opinion. The proof is that my neighbors also have people like that, some people always like to brag, some people choose a modest lifestyle. I don't know why they like to show off or hide their wealth, but one thing I know is that they don't like each other and always avoid meeting each other under any circumstances.