Wealthy people have always had a louder voice, but Trump’s new allies represent the starkest consolidation of wealth in US politics in recent memory

President Donald Trump’s rise is not an anomaly – he is the product of forces set in motion 50 years ago, driven by massive deregulation and key Supreme Court decisions that dismantled a century of safeguards against corporate political spending,

"Today, an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy, our basic rights and freedoms, and a fair shot for everyone to get ahead," he said Wednesday night. President Joe Biden ...

WASHINGTON (AP) — President Joe Biden in his Wednesday farewell speech to the nation warned that American democracy was sliding into an “oligarchy” of tech billionaires. But what exactly is an oligarchy? In short, an oligarchy is an elite few who ...

Last Wednesday, during former President Joe Biden's farewell address, he warned that the U.S. could become an "oligarchy." Here's what it means

For decades the powerful have produced discord, distrust and failures both at home and abroad.

In his farewell address to the nation, President Biden issued a stark warning about an oligarchy he says is "taking shape in America." The speech sparked curiosity across the country, with Google searches for the term "oligarchy" skyrocketing.

In his final address, President Joe Biden warned of America becoming an oligarchy of tech billionaires, and this sent the interwebs into a frenzy. In a nutshell, an oligarchy is a system of government in which an elite (those on the top of the food chain) few control the government’s actions.

Multiple countries, including New Zealand and Australia, are trying to use tax and competition rules to stem the growing power of big tech.

Opinion: It is hard to overstate what a humiliation the launch of the Chinese AI model Deepseek-R1 is for US tech The post Why America’s tech oligarchy is in shambles appeared first on Newsroom.

Mr Trump is more transactional than presidents before him, which increases the risk of cronyism and self-dealing. But America’s economy, including its technology industry, is too unwieldy and dynamic to petrify into an actual oligarchy, whatever diplomats and departing presidents say. ■

As the 2024 presidential race entered its final stretch, the nation’s richest tech leaders gravitated toward Trump’s side.