But there is a cap on how much an individual consume. The same amount distributed among thousands would reallocate the money more efficiently.

I can spend $100 million in a year on things I value with ease of necessary. I’ll start with seeding an Irish startup ecosystem of any note. Actually that could easily swallow the entire fund in one year by itself. I trust you see my point. Bill Gates has spent a lot of money on trying to make the world a place more to his liking, a place without malaria. That’s consumption.

Even if they don't spend it and just keep it in bank accounts, it will still be loaned out and invested.