The alternative is to beg a risk-averse committee (public ones are much worse than private ones in this respect, but they are similar in this context) to invest

The alternative is to beg a risk-averse committee (public ones are much worse than private ones in this respect, but they are similar in this context) to invest in big bets. When Elon Musk went to Russia to try to buy a rocket in 2001, they thought he was full of shit. So he went to work on building his own. https://economictimes.indiatimes.com/news/science/how-tesla-founder-elon-musk-tried-to-fund-a-grand-spectacle-in-space/articleshow/47292702.cms https://economictimes.indiatimes.com/news/science/how-tesla-... Tesla had to vertically integrate its supply chain to build the Model S because none of the existing suppliers would take him seriously. To the extent that they have earned their success and steered clear of regulatory capture and the like, billionaires don't need moral justification for existing. Having said that, those billions are used to fund big bets that would otherwise not happen. I am glad they exist!