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In non democracies the powerful takes the wealth and are therefore wealthy. In democracies many powerful people are still not wealthy since they don't have the power to just take it, and the wealthiest persons are far from the most powerful ones since there is a limit to what money can buy, that is the main difference.

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Many European states (some of the better ones) are still monarchies.

They are still democracies, they just have some legacy celebrities they call King/Queen.

The aristocracy still has power and is supposed to be a balance for the democratic part (like the senate/president balances against congress in the US.) When they become "just celebrities" they're not doing their job. You can see where a lack of balance gets you in eg Canada which only has a parliament. (I guess they technically still are under the Queen but she seemed to have more or less abandoned them even before she was bed ridden.)

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