I think there is the possibility some (if not most) of the super-wealthy to be vain people. Even their charities are often about them as if they are the center of the universe.
I also think some are trying to teach their children a few lessons, because we know the children of the rich and famous often end up really bad either during the lifetime of their parents or afterwards.
I understood something in life. We rarely see the reality about someone's situation unless we lived similar circumstances. Otherwise, we see a distorted reality or even a fantasy that has nothing to do with reality.
I find it really hard to understand why some wealthy people are like that, but then I understand. Money and power can corrupt people and sometimes people forget themselves in the things they have and it becomes really catastrophic.
Wealthy people children already know they'll entitled to the wealth of their parents so some of them just wants to enjoy the wealth and nothing more, it's difficult for some wealthy people to continue their legacy especially if they've got irresponsible children.
At the end of the day, it's mostly vanity, but people realize it too late..