His money, his choice. People who make less than $100,000 a year frequently spend nearly half that much on a new car. Are you going to condemn them for that too?
Also, his net worth didn't really go down when he bought that car. They originally sold for $1,200,000 (give or take), and he bought it for $2,000,000.. He still ended up with a car worth (roughly) $2,000,000.. so his net worth stayed roughly the same.
Even if you don't take the value of the car into account, he STILL has another $10,000,000 in net worth.. and I'm pretty sure he can live on that, just fine, even if he never acts another day in his life.. which is unlikely.