The charity reported that the wealth of the world's billionaires grew from $13 trillion to $15 trillion in 2024, a rate that is three times faster than in 2023.

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? What is an oligarchy?

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

Several of the tech moguls also joined a small prayer service this morning at St. John’s Episcopal Church. Later, they blended in with the Trump clan directly behind the incoming president as he officially assumed power just after noon,

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

Biden's farewell speech warning that oligarchs pose a threat to democracy has echoed a growing problem in the world, economic and historical experts say.

President Joe Biden's pointed warning about the U.S. becoming an “ oligarchy ” of tech billionaires will be illustrated at Donald Trump's inauguration, when the world's three richest men will sit on the dais as Trump is sworn in for a second term.

In his farewell address, outgoing US President Joe Biden warned "an oligarchy is taking shape in America of extreme wealth, power and influence that literally threatens our entire democracy."

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

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. ■

"Today, an oligarchy is taking shape in America of extreme ... You saw the CEOs of Amazon and X and Meta and Google and TikTok. It's the attentional oligarchs whose power he cares about.