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I made a list of all the things preventing billionaires from building community projects (such as sports facilities, primary healthcare clinics, funding teachers, child care centres) to benefit working people :
They don't even have to do the work.
They can donate to progressives in primaries to offset the donations from other billionaires....
It's just they know they get the same PR for just saying this, so it's all they do.
All those impediments it's easy to understand why they don't. I mean that list is just so...BIG.
But those pesky politicians keep giving me tax breaks on my wealth. What am I to do?
Takes time and effort or you need to create an organization that handles it for you, maybe they should hold elections? Oh, wait, now we've created privately owned/financed shadow governments...
People will always bitch and moan about it either being the wrong thing, not enough, only for the press etc etc so doing it won't help them in the slightest. Whereas being taxed will at least take heat off in the form of the specific campaigning that has been ongoing for many years now.
It won't be as well utilized as if the government gets it to distribute. Now this is a contentious statement of course but a private individual no matter how rich can't give their money the legs the government can which already has the costly structure to dispense it in place. For a specific purpose a specific organisation might vastly outperform the government of course but if you generally want it to benefit the population of your nation then taxes is the best system we have to ensure it benefits all as much as possible. And the most fair in that we can vote for how it should be used.
Edit:
This said I still believe it's firmly for selfish reasons they want to be taxed more: