The term the beautiful people refers to the group of wealthy, famous people whose expensive and glamorous lifestyles are well publicized.
There’s no requirement to be physically beautiful. Nor is it required to be aristocratic or well behaved.
Some fashion sense is usually expected, however.
Therefore, Hollywood divas, NFL stars, and top recording artists can all be beautiful people, regardless of their behavior, backgrounds, or physical characteristics.
These are the folks who fill the pages of People magazine.
beautiful people = famous, rich, well-publicized people