My guess is they feel like they are with the in crowd, which after my many years on this good earth I found to be nothing more than rich children who had never earned anything really on their own. Whose main goal was to impress those who could be impressed by the wealth someone else within their family had created. Or if they had created it themselves they had come by it way too easily without much effort and thus handled their wealth poorly.
Either way most of these shindigs were very obnoxious, but also very boring.