[hwahyt-shoo, wahyt]
  1. of or relating to members of the upper class who own or run large corporations: white-shoe bankers; a conservative white-shoe image.

Origin of white-shoe

First recorded in 1975–80; apparently from the white shoes popular as moderately formal wear among suburban men c1980
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2018

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Contemporary Examples of white-shoe