I don't think you understand how the minds of leaders work. That, or you think that the villain of this game is somehow different from our real world politicians and corporate executives.
I'm sure the king did invest in those. Probably had a lot more than that, even! More than could possibly fit on the entire field! ...and then he spent all of the income from them on food, wine, and other luxuries for himself. Well, what he physically could spend, anyway; he just hoarded the rest.