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Joe Biden says ‘oligarchy’ emerging in US in final White House address

President echoes Dwight Eisenhower to warn against rise of ‘tech industrial complex’ and misinformation

US President Joe Biden has warned that an “oligarchy is taking shape in America” that risks damaging American democracy, as he blasted an emerging “tech industrial complex” for delivering a dangerous concentration of wealth and power in the country.

Biden’s comments during a farewell address to Americans from the Oval Office on Wednesday night amount to a veiled attack on Donald Trump’s closest allies in corporate America, including tech billionaire Elon Musk, just five days before he transfers power to the Republican.

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