That's it's not about how much money they use for their lifestyles, it's about how much of the economy you control. The more, the more interesting projects you can do - see Elon Musk. Of course he could live just as well with a fraction of what he owns now, but his control over so much is what allows him to do "cool stuff".

Being ultra-rich is more about controlling society's destiny, not about how one lives.

Whether that's hood or bad is hard to say without checking what a specific person does with all that control, and what would the others do if the control was not so centralized in so few.