Biden warns of oligarchy as tech billionaires support Trump at inauguration
President Joe Biden has warned that the U.S. risks becoming an "oligarchy" dominated by tech billionaires. This concern is highlighted by the presence of Elon Musk, Jeff Bezos, and Mark Zuckerberg at Donald Trump's upcoming inauguration. Musk played a significant role in Trump's campaign, contributing $200 million. Bezos and Zuckerberg have also aligned closely with Trump, raising questions about the influence of wealthy individuals in politics. While wealth inequality has slightly decreased during Biden's term, the richest 0.1% of Americans hold nearly 14% of the nation's wealth. This concentration of wealth has led to discussions about potential reforms to address income inequality.