People are downvoting you because it's a blanket statement and generalization. But in reality, there's a nugget of truth to what you are saying.
In 2023, inheritance of billions overtook entrepreneurship for new billionaire growth.
https://www.cnn.com/2023/11/30/business/ubs-billionaires-report/index.html https://www.forbes.com/sites/maryroeloffs/2023/11/30/new-billionaires-inherited-more-than-they-earned-last-year-ubs-report-says/?sh=12613b9a3d68 https://www.vox.com/2024/1/22/24043104/billionaire-get-rich-people-parents-generational-wealth-transfer-trust-fund
What we are seeing is that a lot of the billionaire boomers are dying off, and their children are inheriting the wealth and choosing NOT to participate in labour, but to just sit on, and use that wealth to generate more wealth. Mostly by hiring others to manage that wealth.
the next decade is going to be interesting when we see the largest wealth transfer in recent history from retiring/dying boomers to their children. what those children end up doing with all that wealth will be the interesting dynamic we have yet to truly see.
Economically speaking, billionaires are absolutely a terrible thing. It removes wealth from circulation and is counter productive to societal growth goals. One of the reasons we're constantly "printing money" is so that we can ensure there's enough of it in circulation and used by the masses after the wealthy extract their portion and remove it from general circulation.
Economies work best when money isn't hoarded or stashed away, but circulating fluidly throughout the economy. Billionaires are counter-thesis to this.