Obesity spreads more easily if is not perceived negatively. This may be the case among the poor, for whom fatness can be an external sign of wealth. We estimate the direct e§ect of overweight on emotional well-being in Mexico, a country facing the highest obesity rate in the world. Individual fatness is instrumented using variation in genetic predisposition. Results conÖrm a positive or insigniÖcant e§ects of obesity among the poor and point to a depressing e§ect among the rich. This is consistent with contrasted norms, related to unequal development levels, which may exacerbate health inequality and justify targeted communication by health authorities.