In theory, yes. In practice, it's almost a branding issue. Knowing that 60% of your money is being taken away from you is generally a bigger takeaway for people than the total amount being bigger.
They likely don't care about other people. You'd have to frame it for them differently.
Perhaps the glory of an immortal title? Maybe the admiration of the populace? Something like that.
I can see an egomaniac going for that.