This is due to the misbehavior of parents who are not good at raising and educating their children. Excessive pampering of wealthy children and the ease with which they obtain everything with complete ease will make them ineligible to bear responsibility themselves and will lead to their bankruptcy after the departure of their wealthy parents.
So the blame is primarily on these rich parents.
I don't know if we can blame the parents though, I mean as I parent most of the time we showered our kids with luxury life maybe because we don't know them to suffer what we have gone through in our childhood. And so we we acquire money along the way and we wanted our kids to have bright future and then we pamper them with money.
So it's really hard to balance everything as a parent to the point that we might be going over board and it's kinda late that our children just look at life so easy without thinking of themselves and what could be the future for them without their parents money. Again, everything should be balance so that we can teach our kids a good lessons in life.