Biden warns of ultra-rich oligarchy and tech-industrial complex in farewell address

In his farewell address on January 15, 2025, President Joe Biden warned of an emerging "oligarchy" of the ultra-wealthy and a "tech-industrial complex" threatening democracy and individual rights. He highlighted the concentration of power among a few wealthy individuals. Biden's speech, delivered from the Oval Office, marked his final opportunity to address the nation before President-elect Donald Trump takes office. He emphasized the need for vigilance regarding freedoms and institutions amid rapid technological and economic changes. Biden also reflected on his political career, acknowledging challenges he faced during his presidency and the transition of power. He called for a constitutional amendment to end presidential immunity, responding to a Supreme Court ruling that favored Trump.