We all know he’s wrong. The problem isn’t that he is wrong, it’s that we have elevated the wealthy into a status where they can be wrong, have no correction, and make decisions whole clothe which negatively affect the rest of us. All while being insulated from their negative world view.

I really like the way you put it: “It’s okay to be wrong. We’re all wrong from time to time. What’s not okay is not having a way to be corrected by the outside world for a specific reason: being at the top of the political pyramid, being ultra-wealthy and surrounded by flattery, etc"

You're right, but we've never devised any system that prevents this from happening. Every single organization leads to a concentration of wealth and power. And even those ideally conceived to have counterbalancing forces, eventually are corrupted and subverted. It seems to be the steady state of reality.