> whose failing businesses they bankroll
Don't confuse a hobby business with a failing business.
Plenty of people with independent means run loss making businesses for fun and/or support wives/children doing just that.
You see a lot of hobby shops in ultra-wealthy areas of major metropolises. Tiny art studios, interior decorators with a handful of items in stock, boutique fashion shops.
Semantics. If the hobby business never makes a profit and is capturing losses for tax benefits, that’s a failing business. It can be failing indefinitely as long as there’s money to support it, but you can’t call it a successful business.