Has anyone experienced this issue?

I have known a gentleman for 50 years.
He and I became close friends after I divorced in 2003.
He was in a common-law situation at that time, but was considering leaving that relationship and dating me. Turned out that he did not move forward with me and remained with his CL woman.
He’s still with this woman today.
BUT, he still wants to be more than friends with me.
Yesterday, I found out that he is interested in a woman who just lost her husband from Alzheimer’s.
WTH? WTF?
This woman in which he is interested in is very wealthy.
I’m not wealthy but a simple person that loves life and non-materialism.
He lives beyond his means, but is wealthy, too.

My question is this....

Should I still be friends with this man, or is this my clue that he is just playing me?
Man, I’m really upset about this situation.
I feel like an idiot!

Thoughts?