Economist here, wealth inequality is obviously negative for society but placing too much emphasis on reducing it is also very damaging. It's the underlying issues of all left/right arguments in economics.

Even though it doesn't seem like it on the surface, those on the right of politics fully appreciate and understand the diminishing marginal utility of wealth. The thing most people don't consider is that countries need to have a competitive tax rate to attract wealthy people and businesses.

For an example of this, imagine the UK top tax bracket is 50% and 1 million wealthy people choose to live in the UK under these circumstances. Now imagine the tax rate is reduced to 40% and now 2 million wealthy people choose to live here. Well 40% of 2 million is more than 50% of 1 million. Too much importance is often placed on the rate of tax wealthy people and businesses pay when in fact it's the absolute amount of tax the government can collect from them which is important, as this is the money they have to distribute among everyone else.

IMO as long as everyone is getting richer it shouldn't matter that some are getting rich faster than others. Historically countries that have punished success by overtaxing the rich have done worse than those who reward success by letting them keep more of their income. Unfortunately this leads to inequality, but the underlying problem is not tax rates within a country, it's beggar thy neighbour tax policies between countries. As long as countries are trying to undercut each other to attract wealthy people, governments will always have to balance the negatives of wealth inequality with the negatives of overtaxing wealthy people and businesses.