Instead they spend it on lobbying politicians (or becoming politicians) to pass laws that make it easier for them to make money at the expense of everyone else.
They don't do a very good job of it. For example, Washington's Congressman Jayapal introduced legislation to wreck Amazon (headquartered in the state and which drives a big part of the state's economy). Amazon also proved to be completely ineffectual at stopping Seattle from passing an "Amazon Tax" (yes, the politicians even called it that).
Instead they spend it on lobbying politicians (or becoming politicians) to pass laws that make it easier for them to make money at the expense of everyone else.