That's, at best, extremely misleading; outside of the most extreme absolute deprivation, relative deprivation (or prosperity) appears to be much more of a contributor to experienced disutility (or utility) than absolute deprivation or prosperity, such that, in practice, and modulo alleviating the most crushing poverty (which isn't where marginal gains go in the developed world, even where such poverty still remains) and maintaining illusions which shield the less well off from the prosperity of th well off (consumer-oriented capitalism actively seeks the opposite), wealth is, in practice, zero sum [0] in terms of impact on ezperienced utility, even if it isn't in measures of absolute possessions or consumption.

[0] or, at least, rivalrous, in that for anyone to gain utility from wealth compared to an alternative scenario, someone else must lose; it's not real clear that utility can be meaningfully aggregated across individuals.