Having a struggling company is super stressful, adding the government asking you to come up with money to pay personally, because you are 'wealthy' on a paper would take it to a different level.
Not to be a dick, but I don't see why anyone thinks this is valid justification to block a wealth tax - maybe you could argue that the cap should be higher. Income inequality has gotten ridiculous and is only going to get worse as AI technologies mature. There needs to be a way to reallocate wealth from the super-rich to the 40% of Americans who would be unable to pay for a $400 emergency and I haven't heard a better proposal.
IMO you should do the opposite - remove all obstacles to start/invest/run a company and tax the outcome - or, even better, consumption. If you feel those taxes are too low, then raise them.
That is exactly what a wealth tax proposes to do since there is no other realistic way to impose a tax on a successful companies. Corporate taxes haven't worked very effectively. When someone sits on $1B+ in stock, there is no way other than a wealth tax to redistribute that wealth.
First of all, this has literally zero impact on the vast majority of entrepreneurs and small business owners who will most likely never hit $30M+ in net worth. And those are the real job and wealth creators.
Secondly, global corporations have the effect of taking wealth from the many and centralizing it into the hands of the few. And this will continue to get worse as AI advances. These corporations are not good for the long-term health of America and I don't think many Americans will care if it becomes a little bit hard to make $100M.