One of the reasons people get rich is to provide for their kids. That's a more realistic motive than providing for society as a whole, and a more noble motive than funding hedonism.
I wouldn't want to live in a society where rich kids don't have an advantage, because that's a society with either debased rich people or no rich people.
I wouldn't want to live in a society where rich kids don't have an advantage, because that's a society with either debased rich people or no rich people.