>they are going to want to live in a society.
Now stop and imagine what kind of society the rich people you know and hear of would want to live in?
Do they want a bunch of poors around? Of course not. Do they want to give the money so they are not poor? Of course not. Would many of them just 'erase' said poor people. History says yes.
Do they want a bunch of dumb people around? Of course not. Do they want to give them education so they are not dumb? Of course not. Would many of them just 'erase' said dumb people. History says yes.
Do they want a bunch of ugly people around? Of course not. Do they want to give them plastic surgery, genetic manipulation so they are not ugly? Of course not. Would many of them 'erase' said ugly people. History says yes.
There are a number of people that already think that the Earths population should be culled back to a few million people. Giving people that believe this power seems to be a really good way to cause a genocide.