Should billionaires exist?

Current top 10 richest popele:

1. Elon Musk (Tesla, SpaceX): ~$839B–$1T
2. Larry Page (Google/Alphabet): ~$257B–$301B
3. Sergey Brin (Google/Alphabet): ~$237B–$280B
4. Jeff Bezos (Amazon): ~$224B–$369B
5. Mark Zuckerberg (Meta): ~$222B–$233B
6. Michael Dell (Dell Technologies): ~$266B
7. Jensen Huang (Nvidia): ~$154B–$200B
8. Larry Ellison (Oracle): ~$190B–$192B
9. Steve Ballmer (Microsoft): ~$159B–$165B
10. Warren Buffett (Berkshire Hathaway): ~$149B–$154B 

Should they exist? Combined they have roughly $3.16 trillion which sounds an insane amount but in reality only is about 0.6% of all global wealth. that is however about 5,000,000 times their share if all global wealth was divided equally across the 8 billion people on earth.