The rich don't like actual democracy because nothing would really stop the majority of not-rich from democratically deciding to redistribute wealth and privilege toward a more egalitarian situation. Hence, anti-democratic. He's just reaching the authoritarian goal from a different angle.
The rich can't really construct democracies. At best, they like censitary/census suffrage - where voting power is weighed (proportional to) personal wealth.
I prefer the term liberals than richs. Not all richs are assholes. Some of them are humanist a'd working to make the world better for everyone at their own expanse. They are not many, and not enough definitely. But underlying the moral superiority from the material one is an important thing imo.