Oh, quite. And it fits with a certain demographic (having to be careful here lest we be accused of racial stereotypes).Happens a lot, CC.
Look at Tyson.
Chartering Jumbos, renting entire hotels for your friends, nose candy, beluga and Veuve, fast cars, bling...
Remember that Mikey the Pikey chap who spunked away 10 million quid in 4 years?
50 grand on a party, 2 grand a day on coke...
Raymond Price wrote a novel called Clockers which was later turned into a film directed by Spike Lee.
In it, one of the drug gang recruiters makes a point to several potential street dealers about how those of a certain non-white community could only see as far as the bling. There was no thought for the future, no prudence. Showing out was all. He was trying to coach them to not think like (insert banned word here).
Clockers (novel) - Wikipedia
Tyson reckons he burned through a billion. A billion. That's a sick joke. I can't even conceive of how to start doing that.
(Okay, I could buy the manual off Tyson but you know what I mean.)