"the wealthy" is a correct phrase in written English and can be used in a variety of contexts.
For example, you might say: "The wealthy in our society tend to have more access to resources than others."
Dictionary
the wealthy
adjective
Possessing financial wealth; rich.
Exact(57)
The wealthy moved uptown.
RYAN: The wealthy would.
"The wealthy were adulated.
Consumers have benefited.Pity the wealthy.
But not for the wealthy.
"Everything is for the wealthy.
Yes, but more for the wealthy.
PLATFORM Increase taxes on the wealthy.
Things are going well for the wealthy.
But the wealthy have benefited disproportionately.
C) tax cuts for the wealthy".
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com