The closer I’ve gotten to the world of wealth, the more I understand that being truly rich doesn’t mean amassing enough money to afford superyachts, private jets, or a million acres of land. It means that everything becomes effectively free. Any asset can be acquired but nothing can ever be lost, because for soon-to-be trillionaires, no level of loss could significantly change their global standing or personal power. For them, the word failure has ceased to mean anything.
This sense of invulnerability has deep psychological ramifications. If everything is free and nothing matters, then the world and other people exist only to be acted upon, if they are acknowledged at all. This is different from classic narcissism, in which a grandiose but fragile self-image can mask deep insecurity. What I’m talking about is a self-definition in which the individual grows to the size of the universe, and the universe vanishes. Asked recently if there is any check on his power, President Trump—himself a billionaire, and by far the richest president in American history—said, “Yeah, there is one thing. My own morality. My own mind. It’s the only thing that can stop me.” Not domestic or international law, not the will of the voters, not God or the centuries-old morality of civic and religious life.