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" that threatens democracy and individual rights, highlighting 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, which spans over 50 years, and called for a constitutional amendment to end presidential immunity. He acknowledged the challenges he faced during his presidency and the impact of misinformation on public perception.