And importantly people who are wealthy don't actually spend their own money. They take out credit secured by their assets, for example stocks and so on, and then spend what they want from that credit. As long as the line goes up or at least not far down they are good to go. That said, if their assets lose too much value too quickly they can end up absolutely ruined because the bank will call them on their asset. This was a real risk with the purchase of twitter by Musky Taint, he had a stake in Tesla and when the value of Tesla dropped he almost reached a point where he would have had to sell off stock for cash which would have dropped the value of the stock further, leading to a crash in the stock. The same applies to his other assets, SpaceX and so on, they are all a house of cards which hold the value of the others up.

On top of all of this much of the value of those companies is built from government grants, loans, and contracts. SpaceX has secured contracts which bolster the stock value because they are safe bets, even if no money has changed hands. Tesla had cheaper cars than they should have due to grants from federal and state programs for electric cars.

If you want an example of living off the government teat Musky Taint is a clear winner.

Woah