We also need to consider the target of those technologies, how much greener they are, and how they impact consumption. Say those 1% are developing incrementally better technologies for the 1% that inadvertently increases the environmental impact (e.g. replacement of technologies where the bulk of the impact comes from production rather than use), then there is a strong possibility that the situation is being made even worse.
As far as greener technology has been driven by incentives from democratic nations, the 50% have much more influence.
Tesla (let's say) is not dependent on the wealth of billionaires: it is dependent on billions from government grants, some of which end up in the billionaires' pockets.