Billionaires are favour of free enterprise for themselves and regulations and confusion for the rest of us. It’s how they maintain their social positions in society.
Yes - They achieve a near-monopoly position, then use their wealth to manipulate politicians into creating regulations that make it more difficult for newcomers to enter the market. "Barriers to entry" is, I think, the economist term.
We need fewer barriers to entry, not more. Ford, GM, et.al., would have a whole different outlook on the auto industry if the regulatory barriers weren't there to protect them.