The label arose from the (perceived) activity of this stereotype to propose toasts to famous socialists with champagne.
Those who have been labelled as champagne socialists include Geoffrey Robinson, ex-Paymaster General and chairman of Coventry City Football Club, Gavyn Davies, current BBC chairman, former Labour party donator and Goldman Sachs banker and John Prescott, the current Deputy Prime Minister.
The same concept has different names throughout the world: