I don't know how you can think 3. is true. There are many situations that increase wealth without making the world a better place. For instance he could wage a war, turn war prisoners into slaves and take their land. He would be very wealthy but it wouldn't make the world a single bit better.

The reason why trickle down doesn't work is because there is no accountability. There are good and bad ways to make money but trickle down doesn't make that distinction.