I gotta be honest here, there's something very wrong about a 16yo kid getting such an expensive car that the vast majority of us have to work hard for.
IMO all this does is teach the kid that things come easy. It does nothing to instill in him any kind of work ethic.
I did it the "hard way". My first car was a POS and now, 20 years later, at the age of 37, I am soon to take delivery of my E92 M3, which will be my first European car.
The point of this post? That the feeling of satisfaction knowing that I "did it myself" is something that money just can't buy.
That said, I hope the kid enjoys his gift and DRIVES SAFELY.