Generally NO. And on balance we are not poorer because they are rich. We are all generally better off because of their achievements.

The exceptions are mixed where the market has been skewed eg. Bill Gates with monopoly of windows, owners of cable companies for the same reason and more recently owners of steel manufacturers because of protectionist tariffs.

Billionaires are a mixed bunch. Buffet invests in companies and industries where there is influence over the markets and hence price protection. This results in we paying more for flood insurance for instance.

Other billionaires benefit us enormously with their Inovations. Jeff Bezos with easy purchase of great value products and services, Steve Jobs with IPhone and Elon Musk with sexy electric cars.

Many thanks