To me, this has nothing to do with what you’re wearing or driving. Many very successful people drive expensive cars and post pictures of their leisure time, yet their employees love them and wouldn’t leave for anything because they are humble, genuine, thankful people. As long as you are young and comfortable, people will make surface judgments about you being spoiled and arrogant. Just don’t prove them right.
The respect you’re looking for can’t be demanded. It’s earned by taking care of your team- compensating them fairly, caring about them individually..do you ask about their family?, being humble- appreciating the value they add instead of thinking they’re lucky to have a job with you. Have you been building their loyalty, letting them know how much you appreciate their hard work, and being respectful when things need to be corrected? You’ll know you’re doing it right when your team happily works themselves to the bone for you to make deadlines, and you receive respect instead of resentment.