In his farewell speech, President Biden said that despite his administration's acceptance of donations from Democratic mega-donors, CEOs of major technology companies have grown closer to President-elect Trump in recent months. He warned of an “oligarchy” of “ultra-rich people” that poses a threat to the United States. .
Elon Musk, Jeff Bezos and Mark Zuckerberg (three of the world's richest people, with a combined wealth of more than $850 billion, according to Forbes) are among Trump's Cabinet picks and elected officials. Biden made the remarks Wednesday as reports surfaced this week that he would be sitting next to the United States. at the inauguration ceremony next Monday.
“I have no doubt that America is positioned for continued success. That's why, in my farewell address tonight, I want to alert this country to several things that I have great concern about. And it's a dangerous concentration of power in the hands of America, “a tiny minority of very wealthy people, whose abuse of power, if allowed to go unchecked, will have dangerous consequences.'' spoke from the Oval Office.
“Today, an oligarchy with extreme wealth, power, and influence has taken shape in the United States that literally threatens our entire democracy, our fundamental rights, our freedoms, and our fair chance to advance. ” Biden continued. “We're seeing the results of that across America, and we saw it over 100 years ago. But the American people stood up to the robber barons back then and shattered trust. They punished the wealthy. They didn't do it, they just punished them.'' They forced wealthy people to play by the rules that everyone else had to play by. ”
Biden takes sole credit for Israel-Hamas deal, warns of 'oligarchy' in farewell speech
U.S. House of Representatives Speaker Mike Johnson, President-elect Donald Trump, Tesla and SpaceX CEO Elon Musk, and Vice President-elect J.D. Vance on Dec. 14 in Northwest Landover, Maryland. -Attended the 125th Army-Navy football game held at the stadium. (Kevin Dietsch/Getty Images)
SpaceX and Tesla CEO Musk, Amazon founder Bezos, and Meta CEO Zuckerberg met with President Trump in Mar, Fla., after his November election victory. We met at A Lago's home.
Musk reportedly donated at least $277 million during the campaign to help elect Trump and other Republicans. washington post, It cited filings from the Federal Election Commission.
Tech giants such as Amazon, Meta, Apple, Google, and Microsoft reportedly donated $1 million each to President Trump's inauguration on January 20th.
Soros donates $15 million to nonprofits associated with Biden SuperPac to examine 'important' policy issues, tax office reveals
Mark Zuckerberg and Donald Trump side by side. (Getty Images)
2023 George Soros and other prominent billionaires stepped up their efforts for Biden's re-election in the third quarter, according to filings reviewed by FOX News Digital.
The deep-pocketed donors have made seven contributions to the Biden Victory Fund, a joint fundraising effort made up of the Biden campaign, the Democratic National Committee (DNC), Democratic parties in all 50 states, and the Democratic Party committee in Washington, D.C. From March to July 2019, each achieved six-digit reductions. September.
In late 2023, FOX News Digital reported that the Soros-funded group had sent $15 million to nonprofits tied to Biden's major foreign super PAC to assess key policy issues leading up to the 2024 election. He admitted to donating the dollars, records show.
Tax documents provided to Fox News Digital show that in 2022, the Open Society Policy Center, an advocacy nonprofit in the Soros-funded Open Society Foundations network, conducted research and It was revealed that $15.18 million was funneled to Future Forward USA Action for “content testing.''
In the same year, LinkedIn co-founder and billionaire Reid Hoffman… Huge six-figure donation to support Biden's re-election bid.
Back in 2020, billionaire Howard Schultz, former CEO of Starbucks, former New York City Mayor Michael Bloomberg, and investor Tom Steyer made large donations to the Biden campaign.
Huge donations from George Soros and other billionaires boost Biden's re-election effort
In his role in the incoming Trump administration, Musk will be tasked with leading the newly created Department of Government Efficiency (DOGE), which examines government spending, waste, efficiency and operational issues.
To do so, Musk may occupy space in the Eisenhower Executive Office Building, right next to the West Wing, which houses most of the White House staff's office space, The New York Times reported.
Hollywood mogul, billionaire floods Biden Victory Fund with six-figure donation
U.S. President-elect Donald Trump greets Elon Musk as he arrives to watch the launch of the SpaceX Starship rocket's sixth test flight in Brownsville, Texas, on November 19, 2024. (Brandon Bell/Getty Images)
In his farewell speech, Biden also said that while America's leadership and technology are “unparalleled sources of innovation that change lives,” “we see the same dangers of concentrated technology, power, and wealth.” Ta.
“As you know, President Eisenhower spoke in his farewell address about the dangers of the military-industrial complex. At the time, President Eisenhower was warning us about the potential for a disastrous rise to misplaced power, end quote. Sixty years later, I said, “I'm equally concerned about the potential rise of a high-tech industrial complex that could pose a real danger to our country,” Biden added.
“The American people are being drowned in an avalanche of misinformation and disinformation, enabling abuses of power. The free press is crumbling. Editors are disappearing. Social media is abandoning fact-checking. “The truth is being obscured by lies told for power and profit,” the president continued. “We must hold social platforms accountable to protect children, families, and democracy itself from abuses of power.
Jeff Bezos (right) is expected to take the key seat at President Trump's inauguration next week, according to reports. (Eugene Gologursky/Getty Images, The New York Times)
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“Artificial intelligence, on the other hand, is the most important technology of our time, perhaps of all time. Nothing poses more profound possibilities and risks for our economies and security, for our societies, and for humanity. It even has the potential to help answer our questions. But unless precautions are taken, AI can create new threats to protect our rights, our way of life, our privacy, our way of working, and our nation. It's safe, reliable and good for all humanity,” Biden said.
FOX News' Andrew Mark Miller, Joe Schoffstall, Jessica Chasmer and Diana Stancey contributed to this report.
