a certain type of socialite who is renowned in bars and nightclubs for spending ridiculous amounts of money in one visit, often dropping tens of thousands of dollars in one night.
"Known in the industry (as they are in Vegas casinos) as "whales," this elite class of partyers pays from $20,000 to $100,000 a night to satisfy their every whim. That might mean bodyguards, protection from unwanted media attention or a steady stream of beautiful people ushered to their table." - LA Times
Mr. X would taunt the other whales at different tables, and they would go back and forth out-buying each other on who could spend the most on champagne. In the nightclub industry we call them champagne wars. Mr. X would order so many bottles that him and his guests would legitimately spray $1100 bottles of Aces of Spades and Dom.