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Hoarding that wealth does nothing to improve society.
Cap real wealth at 200 million EUR, any more wealth accumulated needs to be shunted to a global poverty fund.
However, the wealth earned should still be recorded as having been earned by the person, this will give the person the recognizion they crave, a highscore list to give them incentive to keep going.
This is obviously impossible to do as wealth is not a tangible concept these days.
I was thinking about this and I'm actually curious how that would work in practical terms.
Let's think of somebody with a large company, whose wealth is not in cash (not the largest sum, at least) but mostly on shares of their companies. Once their shares raise over 200 million... What? Do they sell the shares to pay 100% tax on the surplus? What does that mean for companies that, due to the economies of scale and it's costs, need to be massive to be competitive? (Chip manufacturing, automotive, aerospace, civil engineering...).
To be clear, I don't think it's possible to become a billionaire without being immoral, and to hoard more than you and your children need for the remainder of their lives is also immoral. Not arguing that, only how that could be fixed
Yes, they sell the shares.
If companies need to break through the roof to compete then they'd just have to not compete.
Give them a special achievement sticker on their license.
I'd calculated 10M would be way more than enough but it's a good start.