Beat has several meanings depending on the context.
1. It can mean that someone (generally a girl) is ugly, similar to kicked.
2. It can mean to engage in sex, generally from a dominant or male point of view, i.e. "beat that pussy".
3. It can mean to masturbate, similar to whack, i.e. "beat off".
4. It can mean to win or defeat.
5. It can mean to attack someone.
1. Damn that girl has a nice body but she is beat!
2. I'm gonna beat dat pussy up all night!
3. I caught him beating off in his room, so embarrasing.
4. We beat you guys fair and square, so pay up.
5. Jamal beat up his girlfriend last night, again!
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New Money is a term for people who made or earned their wealth on their own accord, they were not born into a wealthy family or grew up in wealthy culture. Sometimes used disparagingly by Old Money, in reference to the lack of refinement or sophistication of New Money people.
People who are new money are generally unfamiliar with the "culture of wealth" in America. They may spend their money on different things and associate with a more diverse crowd (other New Money), as opposed to Old Money. Examples of new money would be all these high-tech start-up guys who are fresh out of college, compared to Old Money individuals, who's wealth comes from a variety of inlets and may be recognizable by family name (i.e. the Hiltons, the Kennedys).
We don't associate with Scott and his family, they are new money and don't share the same values as us.
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