That's terrible. Suppose you want to go some amount of social good that will cost you $15M. Let's say. Develop a new drug. Maybe you want to do something crazy, like don't patent it. It's clearly great for society. But nobody will give you money to do that. Your only recourse to do it is to amass wealth yourself and fund it personally.

Now you have a created a society where that sort of social entrepreneurism is impossible.