Some people have so much cashflow, that they need to spend it. Most banks are only FDIC insured up to 1 million bucks max. Most are only 250k actually.

If you make 1 million per year... you gotta spend that money some how. Even if you lived modestly in a middle class neighborhood, and saved/invested 600k per year, you could afford a new 100k car every year if you wanted.