Well as we all know, children have to be taught the value of money and that money is earned with the sweat of their brows, sometimes there are parents who have very good purchasing power and are allowed to give their children everything, but you also have to let them know that things are obtained according to the effort that has been made, sometimes it is a mistake to make things so easy for children, and guidance should always be a right that every child should always have, and the responsibility of their parents so that their children are formed as good people and always value the things that they can give them.
The problem for something like this is when we as parents can teach it but we also can't apply it to ourselves, obviously this will be the real problem.
Reflecting on the case given by the OP about Michael Jordan and Marcus Jordan, it is clear that the behavior of parents' lives also affects it because if parents have hedonistic traits then indeed their children will not be far from it even though the child is taught to know the value of money and look for it. quite difficult. Because this kind of education would be better accompanied by examples of parental behavior, not just saying theory, but parents managing and wasting money badly.