The way Elon was able to get into a position to affect the world was by acquiring a pile of money. It was a necessary first step. If you imagine a scenario where society enforces a cap on how rich someone is allowed to get, it's possible that Musk might not have passed the threshold of money needed to get into his current position.

More broadly, when a society won't let people become as rich as the market will let them, founders will tend to move elsewhere.

It's also possible that the threshold for innovation would be lower because of the cap.

You mean like Galt's Gulch? That would be great. We'll be better off without people who only doing things for personal gain, to amass the greatest share of the world's wealth and power that they can.