Notably this phenomenon does not affect all billionaires. While I agree with much of what you said, you didn’t highlight counterpoints like Mark Cuban who has been a refreshing antidote to Musk on X.

Bloomberg, Buffett and a handful of other billionaires fall in the Cuban category too - they can be wealthy beyond measure but still retain some morality, most of which is centered on a belief that a whole lot of luck (in addition to obvious skill) got them to where they are.