Bloomberg’s analysis reveals the world’s 500 wealthiest individuals amassed over $10 trillion, with a significant $1.5 trillion increase this year driven largely by the tech sector’s growth. Eight billionaires, notably Elon Musk, added over $600 billion to their collective wealth, highlighting extreme wealth concentration. This surge in billionaire wealth coincides with Senator Sanders’ urgent warning about the rise of oligarchy in the U.S., fueled by billionaire influence on politics and media. Sanders advocates for a counter-movement prioritizing economic justice, democratic principles, and universal healthcare.
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In a Fox News op-ed, Senator Bernie Sanders warns of a growing divide between the wealthy and the rest of America, arguing that unchecked billionaire influence threatens to establish an oligarchy. He highlights the disproportionate wealth of Musk, Bezos, and Zuckerberg, whose combined holdings surpass that of the bottom half of the US population. Sanders criticizes the outsized role of billionaires in political campaigns, facilitated by rulings like *Citizens United*, and condemns the concentrated ownership of media and various economic sectors. He concludes that this system undermines democratic principles, urging a fight for an economy that benefits all Americans.
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As the government funding deadline approaches, House Speaker Johnson is scrambling to secure enough votes to pass the bill before midnight. Senator Chris Murphy voiced concerns on Capitol Hill regarding the apparent increased influence of Elon Musk on governmental affairs. The situation remains tense as lawmakers race against the clock to avert a government shutdown. The bill’s passage hinges on securing sufficient support from both parties. Debate continues over Musk’s role and the implications for government operations.
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Amidst intense negotiations to prevent a government shutdown, Democrats criticized Elon Musk’s apparent influence on Republican strategy, questioning his role in shaping the final spending bill. A bipartisan Senate vote (85-11) and subsequent House approval (366-34) averted the shutdown, temporarily funding the government until March and including $100 billion in disaster aid. However, the bill excluded a long-term debt ceiling increase, while Musk’s involvement fueled concerns about the undue influence of wealthy individuals in political decision-making. President Biden is expected to sign the measure.
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Senator Bernie Sanders and other House Democrats accuse Elon Musk of wielding undue influence over the passage of a government spending bill, characterizing his actions as oligarchic. Musk, who has been appointed to co-lead the Department of Government Efficiency, actively opposed the bill, prompting criticism that he functions as a de facto GOP leader. This event highlights concerns about the growing power of billionaires in American politics and fuels ongoing debate regarding the country’s trajectory toward oligarchy. The conflict culminated in the failure of two spending bills, further intensifying calls for Speaker Mike Johnson’s removal.
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Rep. Barbara Lee (D-CA) criticized President-elect Trump for seemingly taking orders from Elon Musk, referring to Musk as an “unelected president.” This assertion followed Musk’s public opposition to a spending bill, a post subsequently echoed by Trump on Truth Social. Several other Democratic legislators, including Sens. Bernie Sanders and Rep. Pramila Jayapal, have voiced similar concerns about Musk’s influence over the incoming administration. The situation highlights anxieties regarding Musk’s apparent power and the potential for oligarchic control over US policy.
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House Democrat: ‘Unelected oligarch’ Musk ‘governing by tweet’
A House Democrat recently labeled Elon Musk an “unelected oligarch” who is effectively “governing by tweet,” highlighting concerns about Musk’s influence on public discourse and policy. This assertion captures a growing sentiment among many who perceive Musk’s actions as a concerning overreach of power.
The criticism centers around Musk’s ownership and control of X (formerly Twitter), a platform with immense reach and influence on shaping public opinion. The suggestion is that Musk’s use of the platform, through tweets and policy changes, amounts to a form of governance without the accountability of an elected official.… Continue reading
Senator Bernie Sanders asserts that the U.S. is rapidly becoming an oligarchy, dominated by a small number of billionaires wielding immense wealth and political influence. This concentration of power is exemplified by the nearly $2 billion spent by 150 billionaire families in the 2024 election to elect favored candidates, and subsequently, the appointment of billionaires with a combined wealth exceeding the GDP of 172 nations to the Trump administration. This trend, echoed by Senator Chris Murphy, signifies a system where the wealthy leverage government access for personal enrichment at the expense of ordinary citizens. The proposed Department of Government Efficiency, headed by billionaires with vested interests in federal funding, further exemplifies this concerning trajectory.
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Senator Bernie Sanders is launching a campaign targeting America’s wealthiest individuals, like Elon Musk and Jeff Bezos, for their role in a global oligarchy. This oligarchy, Sanders argues, manipulates the economy, influences elections, avoids taxes, and controls the government, hindering democracy and exacerbating global inequalities. He plans a series of discussions exposing this influence and the incoming administration’s ties to the billionaire class. Sanders contends that this oligarchic system undermines crucial issues like climate change and healthcare, ultimately prioritizing the wealthy elite over the common good. He asserts that addressing this oligarchy is paramount to restoring democratic principles and improving societal well-being.
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Garry Kasparov warns that Elon Musk’s potential role in the Trump administration could establish him as America’s first oligarch, blurring the lines between business and government. This concern stems from Musk’s position as a major government contractor potentially overseeing substantial portions of the federal budget. Kasparov emphasizes that oligarchy isn’t solely defined by wealth but by the erosion of ethical boundaries between the private and public sectors. The situation’s resolution hinges on whether Musk’s endeavors operate within existing governmental ethical safeguards and whether conflicts of interest will be appropriately addressed.
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John Q. Hosedrinker 
Matt Underwood