The very richest Americans are among the biggest winners from President Joe Biden¡¯s time in office, despite his farewell address warning of an ¡°oligarchy¡± and a ¡°tech industrial complex¡± that threaten U.S. democracy.
The 100 wealthiest Americans got more than $1.5 trillion richer over the last four years, with tech tycoons including Elon Musk, Larry Ellison and Mark Zuckerberg leading the way, according to the Bloomberg Billionaires Index. The top 0.1% gained more than $6 trillion, Federal Reserve estimates through September show.
Biden warned of ¡°a dangerous concentration of power in the hands of a very few ultra wealthy people,¡± in his speech from the White House on Wednesday. ¡°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.¡±
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