Biden warns of oligarchy as Trump prepares for inauguration with tech billionaires

twincities.com

President Joe Biden has warned that the U.S. risks becoming an "oligarchy" of tech billionaires. This warning coincides with Donald Trump's upcoming inauguration, where the world's three richest men—Elon Musk, Jeff Bezos, and Mark Zuckerberg—will be present. Musk played a significant role in Trump's campaign, spending $200 million through a super PAC. Bezos and Zuckerberg have also aligned closely with Trump, highlighting the growing influence of billionaires in U.S. politics. While wealth inequality has slightly decreased during Biden's term, the wealthiest 0.1% of Americans own nearly 14% of the nation's wealth. This concentration of wealth raises concerns about the potential for increased inequality and the influence of the ultra-rich on government.


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