No economy can be in true equilibrium when the consumers send profits to be spent in unforeseen and unrelated ways like this. Every purchase carries potentially immense future costs that are almost completely opaque.
Free market maximalists need to confront this fact before praying at the altar of complete deregulation, and every consumer should pay more attention to who they are buying from.
There are legitimate criticisms of a pure free market, but this is "state capitalism" not a free market.
The Trump administration is absolutely not pro free market. They're putting fingers on the scale all over the place, taking Federal positions in private companies, taking literal bribes for regulatory favors, influencing the selection of executives and board members, and using the power of the state to attack privately owned companies for platforming speech they don't like (like this 60 Minutes segment, made by a private company). Trump/MAGA looks a lot more like the CCP than anything else.
Of course if you pay attention to the discourse, MAGA and national conservatism are an explicit repudiation of Reagan/Clinton "neoliberalism" and "libertarian conservatism." They explicitly support a large administrative state that centrally plans the economy and culture, just one they run and use to push right wing and nationalist agendas.
I remember saying back during the Bush years: if the right is forced to choose between liberty and cultural conservatism, they will throw out liberty. The right only supports the freedom to do what they think people should be doing. (Yes, there are similar attitudes in some parts of the left too. There are not many principled defenders of individual liberty.)
Edit: I'm really just arguing that we should call things what they are. Calling MAGA's CCP-like state capitalism a free market is like calling Bernie Sanders or Mamdani communism (they're socialists, not communists, these are not the same) or calling old school conservative republicans fascists. Words mean things.
Oracle has always had a huge presence in government. Large companies too, but Federal use has really helped keep them afloat as open source and competing products that are far cheaper have eaten their lunch.
For Musk the case is even more extreme. Tesla's early growth was bankrolled by EV credits and carbon offsets, which were state programs, and SpaceX is a result of both Federal funding and direct R&D transfer from NASA to SpaceX. The latter was mostly uncompensated. NASA just handed over decades of publicly funded R&D.
These two would probably be rich without the state, but would they be this rich?
The same was true back in the original Gilded Age. The "robber barons" were built by railroad and other infrastructure subsidies.
However I do agree that private wealth beyond a certain point begins to pose a risk to democracy and the rule of law. It's a major weakness in libertarian schemes that call for a "separation of economy and state." That's a much, much harder wall to maintain than separation of church and state. Enough money can buy politicians and elections.
The main problem with your thought process is that your conflating “wealth accumulation” with “wealth creation”!