[whatever1]

Rich people have smart folks whose job is to think ways to avoid regulation.

In your example they would probably just have puppet citizens who buy land on their behalf. Sure the cost would be a bit higher because the puppets would demand some commission, but hey it’s the cost of running business.

It’s close to impossible to regulate concentrated money. See the drug cartels or Musk as two examples. The cartels operate their own army in South America completely ignoring government regulation. Musk bought an entire gov for himself.

[mentalgear]

While I can understand your cynicism, and I know the reality of loopholes, it would make it much harder.

Also, consider the more "puppets" needed, they less stable the system becomes, and the more likely a "puppet" exposes the system (as whistleblowers in the mafia).

In any case, the thinking can't be "it's too hard, we can't do anything anyhow" because then society is really f-ed and the rich get what they want: hopelessness and conformity.

Again, there are examples of northern & Scandinavian countries that did this with great results. It's just a matter of pushing through.