To an extent. I would argue that billionaires can still be very compassionate through charity while retaining their fortunes. Bill Gates has been very generous in his charitable giving, for example. The problem with Bloomberg is that he wants to use government to supposedly be compassionate. He seems to think it's compassionate to give other people's money to the less fortunate.
You got the point I was making. People that do it out of compassion simply do it, don't demand others are forced to do it, and don't take credit when someone else's money is being used. That's not Bloomberg. To listen to him, you'd think he had given away his entire fortune.

