Had this one kid in school who was one. Mostly just made fun of him, tho he was a friend; banter I guess. Said his Father was a millionaire , he said he bought him self a Jag at age 14 for when he was 17, things of that nature, along the lines of materialism. Mostly he liked being the center of attention (maybe why he didn't mind the jokes), when a good friend of mine was in trouble with the law, he was spreading and talking about it to people who really didn't need to know. I was not keen on him post that.
Depends on how you know, and interact with the person. If you can't joke about it then that person is better being cut off.