Or he's completely deranged and the drugs have irreversibly damaged his mind. Both scenarios, or some intersection therein, are plausible.
Imagine you're one of the richest people on the planet. What are you going to do? Keep chasing more and more money, like a drug addict chasing more and more high? Nah, that's not sustainable, surely not when you're already virtually at the top, and you can have everything you want. Run a charity? Why? Starving children in Africa weren't your problem when you were poor, why should they be now?
Dick around and do dumb shit, that's what you're going to do. Because you can. You have enough money to buy popular social media and turn it into shit because it's fun and why not. And your best buddy who's on board with doing dumb shit happens to be the president of America. Dream come true.