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On the subject of wealthy people having restaurants for "social reasons," this article is an interesting read: "The Thrill of Losing Money by Investing in a Manhattan Restaurant":

https://www.newyorker.com/business/currency/the-thrill-of-lo...

Do you suggest that restaurants in NYC are sort of charity financed by wealthy for public good?

I don’t suppose many restaurants are intended to make a loss.

Vanity projects, certainly. Some are fronts for money laundering, of course. But charity, not exactly.

I assume yes, as long as "the public" is limited to the niche group of rich people it caters to.

It is largely a social circle thing.

https://en.wikipedia.org/wiki/Fashion_Cafe

The food was not that good.