Those billionares wouldn't be billionares without taking advantage of the infrastructure and support of the country they made their money in. So they've already taken from you - from your taxes.
This is their opportunity to repay their governments for those advantages.
I mean, I hope you're right. Because if not, this kind of policy is basically sprinting toward having a society of people with no market-useful skills and a strong sense of entitlement. That may be egalitarian, but it doesn't sound like a "higher utility" to me.