No it isn't. Having read widely on the subject, it becomes very easy to conclude that the correlation between wealth and happiness goes to custard once we are already comfortable. There is no evidence I'm aware of that ever increasing wealth leads to ever increasing happiness but I would be ecstatic if you could provide some.
Don't get me wrong though. Wealth at these levels can be a great source of self esteem as it is really about keeping score - with oneself as much as anyone else. I don't deny at all that creating wealth is a great source of pleasure in it's own right and there is nothing wrong with that.
But when it comes time to start spending it, I see a lot of people who think certain expenditures will increase their happiness, only to end up disappointed. From what I can see (which I admit is very limited but I do know quite a few very wealthy people), the ones with greater levels of emotional intelligence and experience in these matters end up on the road to some form of philanthropy and are consequently happier than those who push it into a bunch of harbourside and rural estates / boats / cars etc.
