I disagree with this, mostly for the reason that the requirement for trust, accountability and reputation to exist in a society is different person to person when conditioned on wealth. If I have massive wealth, I can participate in society and democracy entirely anonymously. I vote, which is anonymous, and that's it. I have no requirement for trust, accountability and reputation.
Not only that but trust, accountability and reputation are all subjective measures based on who is measuring them. Mark Zuckerberg is trustworthy, accountable, and has high reputation for some folks at FB, while a large number of other people would disagree with that. Who's opinion matters? Has his measures of trust, accountability and reputation changed over time? Additionally, trust, accountability and reputation don't matter to him if he's still one of the richest people on earth.