You know that saying: "Don‘t attribute to malice what can be explained by incompetence."
I think with rich people there is often some assumption that they‘re generally competent because they are rich, so what looks like stupidity on their part could be some grandiose plan.
I don‘t think so, because I think for most of them they simply got lucky and that is why they are rich, so they are just as capable of stupidity as the average person.