> I don’t care that someone has well over 5 orders of magnitude more wealth than I have. It doesn’t materially negatively affect my life in the least and, on the contrary, their inventions make my daily life better by wildly more than any negative impacts their houses, yachts, airplanes, or rockets could possibly have.Wait, are you under the impression that people with extreme wealth typically got it by inventing something?
It's called capitalism because the owners of capital reap most of society's economic rewards. Which is in the form of more capital.
IOW, the rich get richer.
The optimal wealth investment strategy to grow a large pile of money into a larger pile over the long term is pretty simple too (rebalance your portfolio annually, buy and hold), and attempts at a 'smarter' strategy tend to fail pretty miserably.
The American story used to be rags-to-riches-to-rags, but not anymore. These days once you've reached 'riches' your descendants are fairly likely to stay rich, and laziness on their part (ie. leaving the money pile on autopilot) is actually an asset (eg. Donald Trump would be a wealthier today if he had invested his inheritance and just left it alone).
Conversely, it is harder than ever to go from rags-to-riches in the first place.
You do not benefit from the wealthy in society pulling the ladder up behind themselves.