A boss that only hires the young from rich families (and we are not talking about their own family business).

It is an interesting and thought provoking strategy. At AH Loder Advisers, we work with a lot of wealthy young and I can see some logic in what the boss is thinking. 

Some of these 'rich kids' might not have a lot of business experience and their CVs might be a little short on content and qualifications. However, they have other experiences - social experiences for instance, which can be very useful, for example in a sales role. 

Work skills can be taught and over time as they grow up they will pick up a multitude of experiences,

Qualifications and sitting hundreds of exams does not necessarily mean that a person can translate that into real life work experiences.

What a rich kid must be prepared to do though is roll their sleeves up, muck in, work hard and be prepared to listen.