In the US we venerate our working class and, well, the business class kind of earned their reputation.

Labor in working overalls is salt of the earth type. Senior exec in a suit is an empty suit. When labor makes a bad decision it only affects that person. When an exec makes a bad decision they are usually the ones not affected.

The hoodie CEO is GenX/Millenials attempt to get not appear as the empty suit. To announce that they are from working class even if they are not.