That's not objectively true. Case in point my company. The CEO already has enough money to retire. Has a huge house, drives a lambo, but he loves buiilding businesses. He also makes it his goal in the businesses he creates to share the wealth with all his employees.
Now where you're most likely to see budget cuts are in either cut-throat startups running on fumes or publicly traded companies that have to constantly worry about appeasing the board. I've worked in both situations, and both are annoying.