Based on the famous Trinity study [0], $2M would be enough for he and his wife to draw $80k/year plus social security. That's certainly more than most people are able to retire on, but I wouldn't call it lavish, and I imagine the remainder will be donated after death. I find it hard to fault him for wanting to make sure he and his wife can enjoy their last few years without having to worry too much about the exorbitant cost of end of life care in this country.
You shouldn't compare expenses for someone at this level of networking with a standard one. At his level of social bonds, he can live without money anyway.
0: https://en.wikipedia.org/wiki/Trinity_study