What wealth does a yacht crew member create? A private guard? Or a private chef? These are all luxuries wholly consumed by the individual rich person, and whatever "wealth" may have been created vanishes the next day under the spin of the hedonic treadmill.
The labor of these employees could have instead been directed towards build infrastructure, nursing, childcare, or any other number of jobs which generate real and persistent wealth which compounds across generations.
The labor of these employees could have instead been directed towards build infrastructure, nursing, childcare, or any other number of jobs which generate real and persistent wealth which compounds across generations.