Yes, it tends to be an elitist society. The guys at the top stay at the top. Mexico has quite a few billionaires and a lot of very poor people.
There used to be a similar social structure in Haiti, where the lightest skinned inhabitants with the most French blood formed an elite. I think the last revolution may have changed that, but I’m not really sure.
Very politically incorrect from the currently accepted American point of view. But so it is.
Where rule of law is weak, the only way to prosper is to have connections that will protect you from the vagaries and uncertainties of a vague and uncertain system.
If you have those connections, you are protected and can dare to invest. If you don't have those connections, you are unprotected and must seek to build those connections.
Centralized power and uncertain legal protections always guarantee oligarchy. Have a revolution to centralize the power even more in a supposed effort to get rid of the oligarchy, and you get more oligarchy. Because why? Because the people who are able to navigate an uncertain and politicized economy are the ones who prosper. Where the law doesn't protect you, you need to build personal relationships which will protect you.