Biden warns of ultra-wealthy oligarchy threatening US democracy in farewell address

In his farewell address, President Joe Biden warned of an emerging "oligarchy" of the ultra-wealthy in the U.S. He expressed concerns about a "tech-industrial complex" threatening democracy and Americans' rights, highlighting the concentration of power among a few wealthy individuals. Biden's speech, delivered as he prepares to leave office for President-elect Donald Trump, emphasized the need for reforms. He proposed changes to the tax code, campaign finance, and term limits for Supreme Court justices to address these issues. This address marks the end of Biden's presidency and his long political career. He acknowledged challenges in defining his legacy and the impact of misinformation on public perception during his term.