To the GP's point, a friend of mine makes 80k but is still provided an assistant. That's in the entertainment industry, where PA's are dirt cheap and union laws prohibit multitasking.
If you expand your point of view to the interests of all mathematicians, or society at large, the waste here is even more extravagant.
That is a bit more than 1/9th of what the head football coach at UCLA makes, who has two assistants (offensive and defensive coordinators) who each earned a bit more than Tao. Additionally, UCLA still paid more than $3M in 2021 to another head football coach whom they had fired in 2017. The university seems to have fairly clearly defined priorities.
https://www.collegefactual.com/colleges/university-of-califo....
But even IF this were a profitable activity, should a university really be in the business of running an enterprise that literally causes irreversible brain damage (Story about USC, but undoubtedly applies to all football programs: https://www.si.com/college/2020/10/07/usc-and-its-dying-line...)?
With respect to the brain damage, he spent much longer in the professional setting than college, it’s more likely the damage came from there. I don’t think colleges should be in the business of restricting what students should be allowed to explore based on the possibility they might choose a career where brain damage may occur. And if they did, Engineering should be the first to go. Just think of all the brain damage resulting from professionals engineers of the military industrial complex!
Either salaries in the US are extremely higher than what I thought, you have a very idiosyncratic definition of "good" or you are significantly overestimating how much people make.
The point is that amongst people that I know who are making 500k, the majority of them aren’t having assistants. And I do think it extrapolate to the population of people with 500k income too (no proof here, just a hunch).
In the case of this post, one could argue that collating statistics should be done by ICM staff rather than the committee chair.
For example, this article [1] says that to be in the top 1% of earners in the US a family needs to make $600k or more. There are 330 million people in the US, meaning that 3.3 million people are in a household earning $600k or more. I think that's a lot!
[1] https://smartasset.com/data-studies/what-it-takes-to-be-in-t...
University could have paid for Terence Tao’s assistant, but then they could have paid him more too.
So yeah, “only”.