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

orlandosentinel.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% own nearly 14% of the nation's wealth. The presence of tech moguls at Trump's inauguration underscores concerns about the concentration of power among the ultra-rich.


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