In general, at least in the Indian society, those who have made a lot of money are also considered wise in non-monetary / non-business areas. Friends, colleagues and relatives start taking advice from these people on a range of social, financial, family, and other issues, implicitly implying that these folks are "wise".
I don't believe that this implicit assessment is correct. I have at least one strong example to think so.
Recently, one of my relatives - who is one generation senior to me and has had huge successes in business over the last many years - kept not one but two extended-family gatherings at his home within a span of roughly 10 days. What kind of wisdom is this, I ask. Entire India is burning from the coronavirus / COVID-19 fire for the last many weeks, and in these dangerous circumstances how can someone put his own extended-family's lives in danger just because he wants to celebrate some of his own occasions? Due to the nature of the close relation, it becomes difficult to refuse the invite, but shouldn't the relative act wisely in the first place and not hold such gatherings at all?
Should we put our lives at stake just because you want to celebrate? Do you know for sure in advance that out of all the people invited / attending the gatherings, none has covid, or that none's body will be devastated if the novel coronavirus enters it?
A corollary. I think earning a lot of money makes a person overestimate / overconfident about his intelligence and wisdom in non-monetary / non-business areas. The person starts to think that because he has successfully earned a lot of money, it's proof that he's universally intelligent / wise - that is, he's capable of intelligently thinking about any area, discipline, situation or subject.
This, I feel, is a major trap which can bust this rich person.
