"Sure, the robber barons were cruel and rapacious, but they ultimately gave away their fortunes to build schools and libraries" kind of falls apart when their great-grandson still has enough generational wealth to give $50M to a literal felon's presidential campaign.
Let's consider, for a moment, the absurdity of allowing someone to donate $50 million to a political campaign. How can it be seen as anything other than bribery or an "investment" in exchange for favors should the candidate win office? This is glaringly antidemocratic.