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Societies should not allow billionaires as long as there are people who can't even get food on the table. It's just morally and ethically wrong. Some would even say unchristian.
The answer is simple. Butcher the billionaires and their fortunes. Eat the rich and use the money for social work.
They hit a billion (or really $100 million), loose all assets (aside from a small seed amount), get another star on their chest, and try to do it again. Those who care about the rat race will jump through hoops for what they value, while the rest of us are able to maintain a healthy work/life balance.
My cyberpunk solution is that once you cross the billion dollar net worth threshold, it becomes legal for a team of any size or an individual to register with the billionaire hunting office.
If a registered person or group is successful in killing the billionaire, all of their assets (including any managed by a trust on their behalf) are seized, liquidated, and distributed to the group.
Anyone paid to protect them, anyone affiliated with an organization paid to protect them, or anyone (regardless of affiliation or payment status) within a certain physical proximity to the billionaire is fair game.
Way to convoluted and will eventually hurt bystanders. Just tax all after the first billion with 100%.
But that doesn't net us an afternoon romp staring Kurt Russell.
As much as I understand Jesus was a socialist, even he couldn't write rules to live by that can't be bent, manipulated, and plain broken. Morals and ethics are a feeble reed to lean upon.