It doesn't matter what you are worth you will always want those things, not because you NEED them but simply because you want them.
Those who are unable to shed their vanity will not hold on to their worth for long.
The implication of the statement is fundamentally flawed and misguided, 'vanity' is a matter of self-awareness it can manifest at any age or financial status.
Notwithstanding, I'm sure you are aware, that many of those with a net worth in excess of $10B are essentially giving it all away for whatever reason(s).
Humans are designed to want acknowledgement, recognition, and be appreciated, regardless of financial worth.