Rich kids are kids stereotyped by everyone else as not caring about anything but themselves simply because they have electronic devices or clothes or cars. Many actually do realize that poverty exists, and many do realize that they are privileged compared to many others. Just because they have expensive stuff doesn't necessarily mean that they think everyone who doesn't is scum.
"wow. you live on that side of town, you must be one of the rich kids... I hate you because of it"