A century ago people in the US started to tax the rich much more heavily than we do now. They didn't believe that increasing inequality was necessary - or even actually that helpful - for improving their real livelihood.

Don't be shocked if that comes back. (And that was the mild sort of reaction.)

If you have billions and all the power associated with it, why are you shooting for personal trillions instead of actually, directly improving the day to day for everyone else without even losing your status as an elite, just diminishing it by a little bit of marginal utility? Especially if you read history about when people make that same decision?