The accumulation of wealth becomes dangerous to the rest of society once it allows super rich people to buy power. The super wealthy can game the system by buying politicians, controlling media, and litigating against any who stand in their way.
At this point there should be special internationally agreed rules that apply to cap their wealth and stop this from happening. Obviously there will always be tax havens that won’t enforce such rules, and these individuals may move their assets to such places, but they will still need to sell into markets that do cooperate, and their ownership of assets in cooperating nations can still be targeted.
At what point should such rules apply? I don’t personally know, but I’m surely there are academics who do. Maybe $100m?
Make no mistake, these are dangerous people and need to be reined in. Perhaps it’s already too late with narcissists like Musk and countless others like rogue elephants destroying our democracies.
My two pence worth.