He doesn't have a markedly more lavish lifestyle than the hundred-millionaires, but I don't want to live in a country where the government takes stuff that it (or some majority) decides the current owners don't need, and you shouldn't want to either. I think the US and world are better off with Elon Musk in control of those companies, and with those companies having lots of capital to work with. A side effect of people agreeing with me (although I'm not invested in those companies directly) is that his paper wealth is huge.

So, no, I don't think "he doesn't act like he needs it" is at all a good argument for redistribution.