The excited response to the exposing of the college admissions scandal showed how much things had gotten worse. It at the same time shed light on a problem that had been going on for quite a while. This was something that had been brewing over some time, even though no one wanted to address. It revealed how affluent parents were using their wealth to pay off college admissions staff to secure placements for their kids. This meant that there would be an imbalance in the education system as those slots were unfairly distributed. As the parents went about doing all they could for their kids, they were in the process making things much wore for their kids. In the process, others would be hurt as well. You can view here for more info.
Having money is a good thing, but it will not make you a good parent by itself. You need to raise instead kids who are confident, self-motivated and secure. Money will not play a big role in that. This comes down to what you do. You need to impart in them the value of hard work, for them to develop some grit. They need to see where they went wrong, and how they can fix it. They should learn to solve their issues, and only turn to you when it gets too overwhelming. A spirit of independence is also necessary, for them to learn better judgment, and so act accordingly in your absence. You can view here for more info.
There is hardly any good that comes from you throwing money at your kids’ problems. Kids lookup to you to learn good values and to see the right way. They can feel when all they are getting instead is money and nice things. They need to be kept in a comfortable environment, but more than that, they need to learn from you. This is your chance to teach them integrity, empathy, good judgment, and self-control. They need guidance from you, and limit setting. This shall help them to place realistic expectations on themselves and those around them. Failing to do this is simply neglecting the child. A child will never understand what hard work is when they see their parents solving their problems with money. Seeing as they learn from you, you will have taught them quite something. They will not see a need to get good grades in school. They know you have enough to handle whatever it is they shall face in future. They know that this placement you bought for them shall also lead to you buying them a place at work. They know you have plenty of connections not to miss a good job for them. There is nothing quite like good parenting. Take a look at this link https://en.wikipedia.org/wiki/News for more information.