I still don’t see an issue of billionaires becoming trillionaires and being able to buy hyper luxury goods. Good for them and good for the people selling and manufacturing those goods. Meanwhile poverty is in all time lows and there’s a growing middle class at global level. Our middle class life conditions nowadays have a level of comfort that would get Kings from some centuries ago jealous.

If buying hyper luxury goods was the only thing that this wealth was good for, I'd agree.

But it's not: many of those billionaires are using their wealth to subvert democracy. They are quite literally enemies of the state.

The only lasting defense is to prevent this level of individual wealth accumulation.