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I agree there is no reason why an individual should have that much economic power. There is no justification for that amount of wealth in so few hands.
I don't mind people being wealthy, if they are just going to indulge their personal needs. The problem becomes when they have enough economic power that they can enter into personal economic negotiations with other nations that may run counter to the needs of their own nation. It would be bad enough if even a single Sociopathic Oligarchs did this, but imagine if there were multiple people doing it.
What the current Sociopathic Oligarchs are doing is bad enough, but they are still managing to operate like human beings, more or less. What will happen if the billionaire class throws off a straight up psychopath who has no problem killing mass numbers of people, or even likes it? It is only a matter of time before one of these people emerges, with enough money to indulge his perversions, and also to buy his way out of any trouble he may get into.
We have to anticipate these inevitabilities, and avoid them preemptively. We have to stop waiting for easily predictable problems to happen, and only THEN start to address them.