But another part of this is transhumanism, which is a weirdly popular movement in tech circles.
The core tenet is transhumanism is that humans will eventually transcend their current form and becomes who knows what exactly? Some view this as the singularity, which in part explains the AI hype.
But part of this is the latest incarnation of the prosperity gospel, an early (and now pervasive) idea that wealth is a demonstration that you are favored by God. Another version of this is the myth of meritocracy under capitalism. So if you're wealthy, it's because you're better than all "the poors", by definition.
How does this relate to transhumanism? Well, if you're better than everyone else, you think your genes should be passed on to this ultimate transhumanist future by, say, having a ton of children. Even if you're a completely absent father, it doesn't matter. You believe in the supremacy of your genetic heritage.
Another way to put all this is simply eugenics.