Not quite. It's not about being economic elite per se, but about being part of the handful of people who will control the tech. That might well end up being a single person or family, of course. (I assume that AGI will not take over, rather the humans who program it will. I also assume that, unlike movie villains who need to keep rivals alive so that we can get an entertaining story, real life villains will not take chances and kill off almost everyone.)