Everytime I look at small problems or big global problems, if you follow the money trail, it all leads to some billionaire who is either working towards increasing their wealth or protecting their wealth from decreasing.
Everything from politics, climate change, workers rights, democratic government, technology, land rights, human rights can all be rendered down to people fighting another group of people who defend the rights of a billionaire to keep their wealth or to expand their control.
If humanity got rid of or outlawed the notion of any one individual owning far too much money than they could ever possibly spend in a lifetime, we could free up so much wealth and energy to do other things like save ourselves from climate change.
The problem with your idea is that it’s not just about the amount of money, but the fact that some people will find ways to have more money, more power. As soon as you draw this line, you’ll have an new level of the richest people.
So in order to really make a difference you would need to spread wealth evenly and no one would be able to earn more than that. And the same goes for losing money of course. This way people will not have the incentives anymore, but i think this will eventually move to a new commodity , because it is just in our nature.