Lots of parents, rich or otherwise, just want their kids to shut up. Many rich people do this by getting their kids anything they ask for. This is actually a pretty toxic form of neglect. My bet is the kid friend asked if he could get an iphone for his friend too, because OPs kid expressed how cool his previous phone was or smth at some point, so… kid wanted to do something nice and parents didn’t give a fuck and just “yeah yeah, sure”'d it.