It's not democratic at all. It's specifically the use of resources to impersonate votes.
In practice, sure. That can happen. But we tend to universally awknowledge that it dilutes the intent of democracy, which is to keep a government honest to the people it governs. It seems like, given the astronomical differences in wealth between individuals in this world, this is precisely the kind of thing where one person can use resources to dilute the power of many individuals.