Was World War 1 and World War 2 financed by the Elites ?

No, no, not at all.

The people who financed WW1 and WW2 are the same people who fought the wars; the indoctrinated masses of poor and working-class citizens of the Imperial nations and subjects of the Imperial colonies. 

States finance wars by taxing the masses, reducing/cutting services to the masses, and by creating more debt to be eventually paid off by the masses.

The Elites profit from wars they don’t pay for them, with their money or their own blood.

A Communist MC summed it all up in one short line:

“War ain’t about one land vs the next, it’s poor people dying so the rich (can) cash checks.”
– Boots Riley of the Coup.