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

President Biden has warned that the U.S. risks becoming an "oligarchy," a term he used to highlight the influence of wealthy individuals in politics. This warning coincides with Trump's upcoming inauguration, where three of the world's richest men will be present. Tech billionaires Elon Musk, Jeff Bezos, and Mark Zuckerberg will join Trump at the inauguration. Their companies have significant federal contracts, illustrating the close ties between wealth and government in the new administration. Wealth inequality remains high in the U.S., with the richest 0.1% owning nearly 14% of the nation's wealth. This situation has prompted discussions about potential reforms to address the growing influence of billionaires in politics.