On a serious note, since most replies are “capitalism bad”, I will say the same thing but less reductive.

An indivdual’s personal essential expenses come from the same pool of money that was given in exchange for work. Basically “buy less lattes and avocado toast” boils down to “budget better because you will have no power to increase your income”.

On the other hand, the multi-bilionares that are buying yachts are using their own money to purchase those things and they do not pay employees directly from their income.They could reduce their income and refocus the company to deliver less profit to shareholders to pay their employees more but, if they did that, they would see little return on investment for the money they’re giving up and likely lose shareholder investment. If you value your employees wellbeing, it makes total sense to give them more money. If you value people as interchangeable labor, it makes no sense at all since not paying people more has resulted directly in being able to afford an extravagant lifestyle.