That is true but I think the author refers to the ultra-rich who care only about their money and how to make more. Especially those who benefit from generational wealth. The Walton family is a great example. They do provide, I think, a few hundred thousand jobs but jobs with relatively low pay and few benefits. Some of Walmart stores actually have food donation boxes to help their low-paid workers help other low-paid workers have enough to eat.

US taxpayers subsidize many or most Walmart's employees because they qualify for food stamps and other programs that are meant to help those who live in poverty.

Other rich people, as you point out, use their wealth- which is needed for some projects/companies- to benefit society. And we do need the capital those people provide. Being rich, in and of itself- is not bad; it's what the rich do with their money that matters.

Musk, Branson, Buffet, Gates invest in society rather than in just accumulating wealth for themselves.

Bill Gates, Warren Buffet and several other billionaires have set up a group of billionaires who have pledged to donate what they have when they pass away and Gates, through the Bill and Melinda gates Foundation give enormous amounts of money to the betterment of society.

Bezos, I'm not so sure but doubt he does the same. He earns $150 million a day (I think I'm very low on that figure) and was lauded for raising his employees wage to $15 an hour. Big effing deal, he throws a few more crumbs to his employees and is applauded for it. While Microsoft is rated the most socially conscious tech company, or perhaps- I'm not certain- socially conscious big company, but no one applauds him for that. Google's "do no evil" slogan is pretty much meaningless and Apple- who knows, maybe the owner does a lot of good but Tim Cook didn't. He seemed to be all about market share and making more money for the company, hence for himself.

As you say, capital IS needed for many things that otherwise couldn't be done but with great wealth comes great responsibility and some take that seriously while others don't. And, although many don't like big government, without it we wouldn't have highways, airports, shipping ports, nationwide electrification and so much more that even the wealthiest individual couldn't afford without subsidies from government that enable Musk and others to build those big businesses.

Wealth/capital is, as you rightly point out, needed for progress.