Well, when they spend it they just get more, so why care? They get a premium gym membership and never go. Then they decide that a new Ipod would get them to go, but they forget to put songs in it and never go anyways. Then they remember they've been paying for that gym membership for a few months and never went, but their back hurts, so maybe they'll sign up with a chiropractor, keep paying the gym membership, and still never go...And they go on living just the same after wasting all that money, so they just have no respect for its value.
Same way parents who let their kids be the boss get no respect, for most of us regular folks money is the boss and we can't do what we want, so we respect it...For some others, they order money around as they please via their dads credit card or whatever. They seem to have a really hard time handling regular life, a lot of times probably never really acclimate or just have some big time issues.
A self-made millionaire is probably a whole lot better person all-around compared to the son of a billionaire, I think it's mostly not having to build some sort of fire in yourself and having to go out and HUNT for your money rather than it is just having money. If you work hard for it, even if you've got way too much, you'll still respect it.
I've had this same thing on my mind a lot recently, so I figured I'd toss my 2 cents!