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If you’re spending at that volume, I would imagine that keeping $100K in cash or investments at Bank of America / Merrill Edge should be doable, no?
If yes, then Bank of America Premium Rewards or Unlimited Cash Rewards could be a good bet at 2.625% with Platinum Honors.
The issue could initially be the need to spend $50K monthly, but I believe Bank of America will still let you shift credit limits, so you could open 2 or 3 cards if you don’t get a big enough limit on the first one and then call them to shift most of the limits to the card you want to have a big limit on (probably need to pace yourself a bit on that — keep in mind the 2/3/4 rule for them).
There’s also a business version of the Unlimited Cash Rewards card, but getting 2.625% with that would require $100K in business accounts, so it might be easier to go for the consumer side (since moving something like an IRA to Merrill Edge would work if you have $100K in it).
Assuming $50K spent monthly, that would be about $15,900 a year in cash back.
I don’t disagree with other people that I’d still be working in at least a couple of welcome bonuses here and there (at least cash-back bonuses!) because even three or four new cards a year could easily increase that annual cash-back amount by 25% or more.
If you opened 3 INK cards at the 90K bonuses, that’s another $2800+ if you take them as cash back (and the rewards from the minimum spend requirements included).