Billionaire investor Mark Cuban and Democratic congressman Ro Khanna clashed publicly over California's proposed Proposition 40, a 5% one-time wealth tax on billionaires, with Cuban warning it would drive startup founders out of the state and telling Khanna he "doesn't understand business."
It is the same old story of paper billionaire. I always find it very fascinating how easily people get convinved of this argument.
The problem is it is not the monetary capital that makes this billionaire tag valuable, but the social capital. You get access to the uber rich class and that network is going to bring you more wealth.
Also there are monetory benefits. If you have huge amount of stock, and say accumulation of stock as salary or bonus, then yearly liquidation of the part of the stock if not going to plunge the stock to oblivion. This is exactly how they make money. How do you think billionaires get money to buy yachts?