He has never decreased his net worth. His philanthropy costs him nothing except to limit making his obscene wealth even more obscene.
Additionally allowing billionaires to exist and championing their philanthropic endeavors means that you endorse a world where the modern version of kings are the gatekeepers to funding charitable efforts. What are the most worthwhile places to put resources for need? Better hope a billionaire agrees and doesn’t just donate to vanity projects they are personally invested in (like all of them).
This also doesn’t touch on the narcissism of billionaires. He bankrolled the elimination of guinea worm. Thousands of people worked hard to make this happen. But bill gates gets the credit for writing a check. When Trump puts his name all over the country do you also cheer that? No, because it’s obvious narcissism. This is the same, it’s just shielded from critique because the end result is positive and not some gaudy building