Someone with a net worth of $100b would be well advised to keep it as $100b in bills in a deflationary environment though, because other more productive things

Someone with a net worth of $100b would be well advised to keep it as $100b in bills in a deflationary environment though, because other more productive things they could be investing in would, on average, return less money. Deflation is everybody else working harder than last year to beg cash hoarders to spend their money back into the economy.