Nah. That's putting it far too simply.
Murdoch will be dead soon. It's not simply about grift to him and people in this sphere. For people two and three notches down, like Barr and some of the folks in their orbit, sure. For him, and the tech bros, and the hedge fund managers, It's a world view, which is devoid of any understanding (and therefore empathy) towards us.
Shortly after my wife and I got married, we traveled to Uganda as part of an aid group. We went to the poorest district in the country, and then we went to the poorest family in the district- which was an orphaned teen-aged girl and her 3 much younger siblings living in a half roofed mud hut, their clothes literally falling off of them. We, of course, did have deep sympathy, and some of us immediately started to speculate on what they needed, or how we could help them directly, right there immediately. Our hosts, however, quickly brought us to the reality that our experience was simply too far removed from theirs as to presume that we had any real understanding how to help them in any meaningful, sustained way. Of course the aid organization we were there supporting was much closer to the ground, and therefore better placed to assist. But us? Nope.
I tell that story because it occurs to me that the gap between the mega billionaires and us is actually greater than the gap between us and that family in Uganda. At least we were close enough in our shared experience to share sympathy, if not true empathy.