How billionaires took over U.S. elections
Billionaire families contributed roughly 18% of all money raised during the 2024 election cycle. And many of those mega donors are being tapped for high-level positions in the incoming Donald Trump administration.
This begs the question: Is the U.S. government controlled by the ultra rich? David Sirota, founder and editor in chief of The Lever, said he believes the U.S. now resembles an oligarchy.
“Are we living in a time where there is a kind of permanent class of moguls, tycoons and very rich people who are consistently influencing, if not controlling and buying, the outcomes of our political process?” said Sirota. “I think the answer is obviously yes.”
On the show today, Sirota explains how the erosion of campaign finance regulations has created a culture in which big money in politics is normalized. Plus, what Americans can do to keep billionaire donors accountable.
Then, we’ll get into China’s latest move in the ongoing chip trade war with the United States. And, we’ll discuss SpaceX’s astronomical jump in valuation since the election last month.
Later, a Tesla owner explains the “cringe factor” of owning a car so closely affiliated with Tesla CEO Elon Musk since his entanglement in U.S. politics. Plus, what’s the correct way to pronounce “pecan”?
Here’s everything we talked about today:
- “Election 2024: How Billionaire Avengers Destroyed Democracy” from The Lever
- “What’s different about billionaire donor Elon Musk’s relationship with Trump” from Vox
- “How billionaires are influencing the 2024 U.S. election” from Axios
- “Battle of the billionaires: the mega rich spending to swing the US election” from Financial Times
- “Remember that study saying America is an oligarchy? 3 rebuttals say it’s wrong.” from Vox
- “China bans export of critical minerals to US as trade tensions escalate” from Reuters
- “SpaceX Weighs Tender Offer Raising Valuation to $350 Billion” from Bloomberg
- “Yes We Pecan, with Martha Stewart” from NPR
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