If you consider Maslow's hierarchy of needs, you have "esteem" at a high place. Money becomes a proxy for that. Big management negotiate higher pay all the tim

If you consider Maslow's hierarchy of needs, you have "esteem" at a high place. Money becomes a proxy for that. Big management negotiate higher pay all the time not because there is a difference between earning 30 or 40 millions, but because they need to feel their own "value" go up. This is discussed at length in "thinking fast and slow", iirc.