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Multiple countries have been labeled oligarchies by academics. After the break-up of the Soviet Union in 1991, former state assets and other institutions came under the control of increasingly wealthy businessmen who became known as billionaire oligarchs.
In 1957, Fortune magazine developed a list of the seventy-six wealthiest Americans, which was published in many American newspapers. [7] Jean Paul Getty, when asked his reaction to being named wealthiest American and whether he was worth a billion dollars, said, "You know, if you can count your money, you don't have a billion dollars" and then added, "But remember, a billion dollars isn't ...
Oligarchy (from Ancient Greek ὀλιγαρχία (oligarkhía) 'rule by few'; from ὀλίγος (olígos) 'few' and ἄρχω (árkhō) 'to rule, command') [1] [2] [3] is a form of government in which power rests with a small number of people.
A business oligarch is generally a business magnate who controls sufficient resources to influence national politics. [ 1 ] [ 2 ] A business leader can be considered an oligarch if some of the following conditions are satisfied:
Moritz, a billionaire Democrat mega-donor and venture capitalist, contributed at least $7.8 million to pro-Biden and anti-Trump causes during the last election cycle, according to The New York Times.
Sen. Bernie Sanders calls them "oligarchs," while Gov. J.B. Pritzker gets cheers when touting his own billionaire status.
There's rich and then there's making the Forbes-richest-people list rich. Forbes recently released its list of the 400 richest people in America in 2024 and 10 of those billionaires hail from Georgia.
The Forbes 400 Richest Americans list has been published annually since 1982. The combined net worth of the 2020 class of the 400 richest Americans was $3.2 trillion, up from $2.7 trillion in 2017. [1] As of March 2023, there were 735 billionaires in the United States. [2]