I've been in the same kind of situation before, quite recently really, and I'd say it's better to get out earlier rather than later. As Giga said "It sounds like he has an overinflated sense of entitlement and might show his dark side when he gets the boot." I'd say the sooner the better. It will only get worse. Maybe it would never breach verbal abuse, but you never really know until it happens.
I think it definitely would be best for you and your son to leave this prick behind.
Go to Heaven for the climate, Hell for the company.