What is a cake eater?
A cake eater is a slang term used to refer to people who are very rich. It is a term that’s usually meant as an insult, because the people who are called cake eaters are thought to be very self-entitled, and think that because they are rich they can do anything they want.
Origin of the phrase cake eater
The phrase cake eater comes from the phrase “you can’t have your cake and eat it too”. A cake eater, because they think they are allowed to do anything since they are wealthy, think that they can eat their cake and have it as well.
"That neighborhood is full of rich people who think they can do anything they want - they're a bunch of cake eaters."