Their unconsumed wealth is purely deflationary, allowing the government to print money for ‘free’. Presumably that is less useful to society than e.g. giving it to an effective charity.
Their consumed wealth is sometimes used usefully—I buy that for Bill Gates for example. Sometimes it’s frittered away on personal consumption. And sometimes it’s given away to pointless/actively harmful charities like Mackenzie Scott.
Their unconsumed wealth is purely deflationary, allowing the government to print money for ‘free’. Presumably that is less useful to society than e.g. giving it to an effective charity.
Their consumed wealth is sometimes used usefully—I buy that for Bill Gates for example. Sometimes it’s frittered away on personal consumption. And sometimes it’s given away to pointless/actively harmful charities like Mackenzie Scott.