Yes, it is true. They do not need billions of low IQ wage slaves as you claim. They have stated the 500 million number many times.
If the world population dropped to half a billion, there wouldn't be enough wage slaves to prop up an economy in which trillionaire oligarchs are possible. If they really wanted smaller population sizes, they wouldn't be advocating free HIV and malaria drugs (at US taxpayer expense) to the Third World, or bringing in millions of Third World people into first world economies and welfare states in which many more of their children would survive than would in their native lands.
Klaus Schwab said he’d be ok with a billion.
He doubled your chance to survive the apocalypse.