How are the spawn of the 1% spending the Summer of 2012? Oh, you know, the usual: Hitting up tony enclaves in New York, LA, Vegas, St. Tropez, and the Hamptons. Poppin' bottles on lavish Gulfstream jets. Being gifted with Bentlys and Porsches. Doing cocaine. In otherwords, typical rich kid things. This summer plenty of rich kids like Annabel Schwartz (@fckwhatyouheard) and Barron Hilton (@barronhilton) are sharing their jetsetting lives in shades of sepia on Instagram. Insert a Tumblr dedicated to aggregating pics of rich kids spending daddy's money, Rich Kids of Instagram. Douche? Ballin? You can make those decisions for yourself. Keep clicking for a gallery of our favorite pics.