I've seen that all my life, it is amazing that bosses and rich people do that sort of thing, but they definitely do it, and for many jobs with such lousy bosses, either you are in, or you are out, being the owner, the big cheese is like a personal extension of their ego and working for them is based on how you fit into their little ego trip, it isn't just do your 8 and go your own way.
I once worked for a company where the president was that way. He was constantly making the sales manager do stuff for him on the weekends. One day the sales manager told him to stick it.
Another guy who was the company’s first employee and a dear friend of the owner, told the president that he wasn’t working another minute for the s.o.b. but he would still draw his paycheck, still drive a company car and still have an expense account. The s.o.b. couldn’t do a thing about it. But that wasn’t good for me. That employee was my boss and two weeks after he “quit” me and 4 other guys he’d hired were fired.