How much money do you want to make, exactly?
This is actually the most important aspect of the question, because "how much is enough" is a very hard question to answer, and violates many assumptions we have about wealth, our own happiness, life direction, and how the world works. And yet it can also dictate how we direct our efforts, so it's important to answer this question personally - there is no one-size-fits-all answer.
In the US, consider the following educational-income statistics:
Or, even better, this one from Wikipedia made from Census data:
So if you just want to be above-average in personal income, it really doesn't matter what path you pick - a 2-year degree will likely put you there, depending on field.
Note that a doctorate here is shown to gain higher income than a Master's, but note you could likely make more money skipping both and focusing on the professional degree instead (medicine, law, engineering, etc). You'd likely make more than a PhD with possibly less time spent.
But I Want To Be Rich!
How rich, exactly? If you just want a low-six-figure yearly income, you can do that with a Master's, PhD, professional degree, or even a Bachelor's in a high-paying field (like computing, for instance). So it doesn't matter.
But do you want to be, like, 1% rich? You're going to need a bigger boat.
*Note: This is income per family, not personal income as previous notes.
Even when accounting for the household-vs-personal income, no one is going to give you a $500,000 yearly income simply because you have a degree - no matter what it is or what school you got it from.
So how did those people get there?
The best bet is in executive management, so probably an MBA - the previously discussed professional degree. Having a Master's or PhD is not a disqualification, but it isn't a requirement either.
The truth is, though, being this rich isn't a question of being a wage-earner - you need to be an owner too:
So save a lot, preferably marry rich if possible, and buy wealthy stuff too:
In the end, PhD and Master's pay more than most educational attainment levels and, on average, pay pretty similarly - though some jobs are not available without a PhD, some jobs give preference away from PhDs, etc.
Ultimately, whether or not to do a PhD is not a question of wealth maximization - because if you want to max wealth you should probably do something else. If you are just ok with an above-average income, though, you are ok either way! So enjoy your education and decide based on other factors - or drop out and get a professional degree :)