It's greed and short-term thinking, We shouldn't be surprised by this because we see companies do it all the time. How many times have you thought an employer or some company in the news is operating on a time horizon no further than the next quarterly results?

To be ultra-wealthy requires you to be a sociopath, to believe the bullshit that you deserve to be wealthy, it's because of how good you are and, more importantly, that any poverty is a personal moral failure.

You see this manifest with the popularity of transhumanism in tech circles. And transhumanism is nothing more than eugenics. Extend this further and you believe that future war and revolution when many people die is actually good because it'll separate the wheat from the chaff, so to speak.

On top of all that, in a world of mobile capital, the ultra-wealthy ultimately believe they can escape the consequences of all this. Switzerland, a Pacific island, space, or, you know, Mars.

The neofeudalistic future the ultra-wealthy desire will be one where they are protected from the consequences of their actions on massive private estate where a handful of people service their needs. Working people will own nothing and live in worker housing. If a few billion of them have to die, so be it.