I just finished a series of assignments, so the topic is fresh in my mind. Besides, i enjoy the discourse and comparing my stance and ideas with that of other people.
Of course no person can own 100% of the wealth: that is why I ask not "how would you use it" but "how would you distribute it among the populace?" Thus, you don't "own all the wealth", you simply "own the authority to distribute it". You could say that you award it all for yourself, however that would defeat the merit of the argument, because the question itself is asking what economic models you would use, what rules would be in your economy and how this model compares to "current ideas".
There are 2 considerations.
1. How wealth is distributed up front.
2. What happens when the ball starts rolling.
Number 2 is where problems occur for any theory on any issue using this simple model.
Would there be any rules on how your banking system does business? Do you have policies at work to ensure the banks create wealth for the nation, or is this, like religion, a faith based system where the banks could "go evil" at any moment? What incentives would you give to bring in foreign capital? I find that there is little focus in our current system of making money from imports, and likewise most don't consider foreign capital as an import; I think it would be a most valuable import, because you could "weave" your own economy into the countries you do business with and present a "Morton's Fork" that if your business partner tries to screw you it will cost them more than they could ever gain. The other side of the fork is that being friends is beneficial for itself and of itself, so the one being "forked" is neither party in the agreement, but the notion of treachery itself, regardless where it could come from.
I also agree that government shouldn't operate on a money sink, however I question how you would allow the wealth to slowly work its way into your populace over time. Is there a distribution model of wages and taxation you prefer? How do you envision living in this society once the ball is rolling? What would be the limits of government, and the rights of business? Would you give businesses their own constitution or give them personhood similar to America? I just want to see how your nation would handle the "strain" of the "rolling ball" once it starts moving.