Most rich folks would rather preserve their fortune for their offspring or try to make the world a better place. Eventually many people, rich or not, notice that the younger generations are better equipped to run the world.
Not to mention we'd be better off extending human life by preventing and curing diseases and ailments like cancer and heart disease.
In addition, term lengths could be placed on more than government roles to prevent excessive solidification of rules and procedures.
Actually thinking about this more. Collaboration might currently be crippled because of age and death. When you know have a few more years to live, you just want to enjoy what you’ve had. When you have another 1000+ you can take a few to invest into “getting caught up to the times”.