Well it's his money. If legally obtained, I see no reason why he
can't spend it any way he likes.
Anyway when the rich spend money like this, it helps so many
other people down the food chain. Hotels, restaurants, car dealers,
waiters, service staff, the list goes on, all these people get jobs
and business when the rich spends.
Better a rich man willing to spend rather than one who's a
miser.