ELI5: Why are Billionaires / Millionaires a bad thing for society?

Airlines are interesting. They only way they stay barely profitable is using thr business class. Thr economy class has low to no profitability. In a sense, people flying business class are sustaining that business model.

Rich people are spending their money no? Buying cars, buying houses, traveling, etc. The money goes back i to the economy.

The money they have in terms of assets is no different than what you have as your own assets. Just less. If I buy a house, and tomorrow a mall gets built next to it and suddenly my house is worth 10x more and I am a millionaire in net worth, should society hate me?

If I buy stock options, and get rich over night, am I now a bad guy?

/r/explainlikeimfive Thread Parent