Rich People's Power Play: How Billionaires Influence American Politics

Having so much money that you can buy a seat at the table with world leaders. That's the kind of power billionaires like Elon Musk have. Musk, the world's richest man, joined a call between President-elect Donald Trump and Ukrainian President Volodymyr Zelensky. But it's not just about rubbing shoulders with powerful people. Musk's companies also benefit from government contracts, totaling $3 billion across 17 agencies. His Starlink internet systems, paid for by the Pentagon, are crucial for Ukraine's military. Recently, Trump appointed Musk and another billionaire, Vivek Ramaswamy, to lead a new bureaucracy-reduction effort. But who are these super-rich influencers? Political scientist Jeffrey Winters calls them oligarchs. Unlike the Eastern European kind, American oligarchs don't hold political office but use their wealth to shape politics. Take Trump, supported by billionaires like the Winklevoss twins and banking heir Timothy Mellon. On the other side, Bill Gates, Michael Bloomberg, and others backed Kamala Harris.Money in politics isn't new. The Citizens United decision opened the floodgates, making it legal for corporations and unions to spend unlimited amounts on elections. This has led to a surge in oligarchic power. So, is oligarchy anti-democratic? Yes. The principle of democracy is equal power, or "one person, one vote. " But oligarchs have more power, distorting democracy. They don't vote more, but their influence is massive. Musk and others like him have always been oligarchs, using their wealth to gain political power. Some, like Michael Bloomberg, even fund their own campaigns. But it's not just Republicans. Democrats have their own billionaire backers. The visibility of these oligarchs is increasing. Once, they operated behind the scenes. Now, they're in your face. This reminds us of the Gilded Age, when outrage at the wealthy's political influence led to reforms. Today, we're seeing an unusual alliance between working-class Americans and oligarchs. But will this benefit the average worker? Probably not.