A cake eater actually refers to Edina, MN, saying the people in it are so rich they can have their cake and eat it too. It could also refer to rich white suburban kids in general, too. And BTW- Mighty Ducks was filmed in Minnesota, so he's probably literally calling that kid a cake-eater from Edina.
"look at that f*cker driving his brand new BMW out of the school parking lot. what a cake eater"
av Britta D 27. mai 2005
In Minnesota this goes as follows:

Usually used as a derogative term for calling a person of wealth a spoiled 'you have it too easy' piece of shit brat!

Usually called to rich kids who drive BMWs and Mercedes-Benz's and get their college and college housing totally paid for and also get a hefty monthly allowance that's so great that they have absolutely no need to work in order to maintain their lavish lifestyle. This is a cake eater.

Synonymous with calling someone: Spoiled rich little fuck!
Cassi: "Did you see Jesse's new BMW? He thinks he's so damn cool driving around in it but we all know his daddy bought it for him - and plus, the kid doesn't know how to drive it anyways!"

Tim: "Yeah, but dont worry about that cocky fucker, he's just another cake eater!"
av Jesse Giswold 15. februar 2006
Supposedly dubbed by Marie Antoinette during the French Revolution. When citizens complained to her that the peasants were starving and that she should give them bread, she replied, "Let them eat cake!"

It is now used as a nickname for all people who live in Edina, MN. Although meant to be an insult (for the dominantely white, rich, and stuck-up high school), many students from Edina now take pride in it. Example: An Edina sports shirt that read, "Cake: Breakfast of Champions"

This term is most well known by its reference to Edina native Adam Banks in "The Mighty Ducks."
Stupid cake-eaters, I hate them all!
av MN Native 8. februar 2006
A person from Edina, MN. Used because normal people only eat cake on their birthdays or for some other special occasion, while people from Edina eat cake for breakfast because they think they're better than everyone else.
Edina kid: "OMG! i scratched daddy's BMW! looks like i have to get a new one!"
Minneapolis kid: "Shut the fuck up before i rip you to pieces you fuckin cake eater"
av 612ThUg 11. oktober 2006
1.Rich people who think they're better than everyone cause thier rich.
Those cake eaters from St. Thomas Academy arn't so cool if we can beat 'em.
av GrDionysus 4. februar 2003
Rich people. Especially those who go out of their way to show off their wealth.
I drove by the country club yesterday, and all the cake-eaters were lined up to play 18.
av nybor 19. februar 2006
A cake-eater is a person usually coming from a wealthier family, who has superficial depth and values (stuck-up, tacky and conceited), plays the politically correct game to the upper-most, all because they believe they are better than others due to their wealth or over-abundance of false pride.
She is such a cake-eater!! You wore a shirt with a little beer stain on it and she laughed at you like she's never seen one before.
av Viking 1 31. august 2008

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