I know some very rich people, and I've thought about this myself.
My conclusion is that we ALL need ongoing challenges in life. For most people, working to pay the rent is enough of a challenge.
But those who face no financial obstacles need to "create" new challenges. Having lots of kids is one way. Or having an experience (space, or bottom of ocean), or a handbag, that none of your friends has.
One of these is definitely not like the others though. I suppose that's subjective, but a handbag is just a handbag.
I'm not much for fashion and the appeal of Chanel and Birkin bags leaves me scratching my head. But there are some handmade bags out there that are truly works of art and sell for considerably less than the many thousands that you'd need to part with for one of those.
But since no one has ever heard of their makers, nobody cares about them.
Is existentialism really a "challenge"?
> For most people, working to pay the rent is enough of a challenge.
This seems like a bleak worldview. The average person is living for more than just surviving.