“President Biden warned in his farewell address to the nation last week that an oligarchy is taking shape in America. In Washington, the oligarchs are already here, buying big houses,” the New York Times reports.
“Counting President-elect Donald Trump himself, there are at least a dozen billionaires among his cabinet picks and those headed for senior roles in the new administration.
Elon Musk tops the list with a $429 billion net worth, according to Forbes, making him the world’s richest man. Mr. Trump weighs in with an estimated $6.8 billion.”“It is an extraordinary concentration of wealth in a city where power has always been more important than money, but is now more than ever intertwined with it. Mr. Trump campaigned as a populist defender of the American working class, but he has put some of his richest donors in commanding roles in the top reaches of government. A number will oversee the very industries that produced their fortunes.”