This is a great example of what to do with your wealth. Horizontal wealth, I believe, will keep people from going broke. Spending more money than the next person doesn’t necessarily make you more happy. Even President Lincoln said, “People are about as happy as they want to be.”
Besides famous billionaires, like Warren Buffett, another example of the correlation between horizontal wealth and happiness are the Amish. They realized that they don’t have to live beyond their means and chose to live in a population in which most of society’s “terms of success” don’t even apply (e.g. no smart phones, fancy cars, lavish mansions, etc). Not saying that these things are “bad” but it’s hard to argue with their results (by comparison, they’re a lot more healthy, make a lot less than most people, and have less depression).
Happiness isn’t a wealth problem, it’s a mindset problem. Get your mind right and then choose to get your money up.