Donald Trump's return to the White House has attracted the world's most affluent individuals, raising concerns about the potential for an oligarchy to influence US policy and democracy.
This is AI generated summarization, which may have errors. For context, always refer to the full article. Donald Trump 's inauguration as the 47th president of the United States drew the world's wealthiest individuals to Washington on Monday, January 20, 2025, raising concerns about the influence of oligarchs on US policy and democracy.
The presence of billionaires like Elon Musk, Jeff Bezos, and Mark Zuckerberg, with a combined net worth of nearly $900 billion, sparked debate about the priorities of the new administration. Some view it as the pinnacle of Trump's return to power, while others see it as a warning that policies will favor the well-connected. Ex-President Joseph Biden, in his outgoing address, warned of a growing oligarchy in the United States that could threaten democracy. US Senator Elizabeth Warren highlighted the prominent seating for tech CEOs at the inauguration, suggesting a close alignment between the new administration and big business. Musk, who donated significantly to Trump's reelection campaign and has been tapped to lead a panel on government spending cuts, appears to be particularly positioned for influence. There are also concerns about the implications for federal investigations into Musk and his companies. The convergence of business interests and US policy was evident in the last-minute reprieve granted to TikTok by Trump. Despite overwhelming congressional support for banning the app on national security grounds, Trump halted the law and invited TikTok CEO Shou Zi Chew to the inauguration. The potential for government ownership of TikTok, or even Musk's involvement in its acquisition, has fueled speculation about the extent to which corporate interests will shape US policy under Trump
Donald Trump Inauguration Wealth Influence Oligarchy Democracy Elon Musk Jeff Bezos Mark Zuckerberg Tiktok
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump's Inauguration Draws A Who's Who of Wealth, Power and PoliticsPresident Donald Trump's inauguration ceremony attracted a diverse array of prominent figures, including tech giants, business moguls, former presidents, and international leaders.
Read more »
World Leaders React to Trump's Second InaugurationLeaders from around the globe offer a mix of congratulations and calls for cooperation following Donald Trump's return to the White House for a second term.
Read more »
World Leaders React to Trump's Inauguration for Second TermGlobal leaders offered congratulations and expressed hopes for good relations with Donald Trump after his inauguration for a second term as US President. Reactions ranged from Ukrainian President Zelensky's emphasis on 'peace through strength' to Russian President Putin's call for a 'lasting peace' in Ukraine.
Read more »
World Leaders Congratulate Trump on Inauguration, Express Hope for Continued CooperationPresident Donald Trump's return to the White House has been met with a flurry of congratulatory messages from world leaders and prominent figures. Leaders from across the globe have expressed their hope for continued cooperation and strengthened ties with the US under Trump's leadership.
Read more »
Trump Seeks to Delay Sentencing in Hush Money CaseFormer US President Donald Trump is making a last-ditch effort to delay his sentencing in the hush money case. He filed an appeal to a state court, hoping to overturn a lower court ruling that set the sentencing for January 10, just days before Trump's inauguration. Trump's legal team argues that a pre-inauguration sentencing would violate presidential immunity and needs to be halted. The case stems from a $130,000 payment made by Trump's former lawyer to adult film actress Stormy Daniels to prevent her from disclosing an alleged sexual encounter with Trump before the 2016 election.
Read more »
Seventeen draws massive crowd at ‘Right Here’ world tour in PHK-pop icon Seventeen wrapped up their two-day “Right Here” World Tour in the Philippines with an amazing show.
Read more »