It is a new Western trend that billionaires now dominate public life. They own the media, social media, assert corporate control and, as a recent study finds, tend to run for political office.
The Billionaire World Politicians: According to a recent study that highlights the growing power of the super-wealthy, more than 11% of the world’s more than 2,000 billionaires have run for election or become politicians.
“Billionaire politicians are a shockingly common phenomenon,” the study that was done by three professors at Northwestern University said.
“The concentration of massive wealth in the hands of a tiny elite has understandably caused many observers to worry that the ‘super-rich have super-sized political influence,’” writes journalist Robert Frank at CNBC.
In my new book, now number 1 bestseller on Amazon, The Billionaire World: How Marxism Serves the Elite, I discuss precisely this trend, pointing out that not only do billionaires run for political positions, but they control the political game by owning the media, funding the politicians and defining the corporate game.
With government support from the progressive political elites, whether right-wing or left-wing, the new billionaire class freely engages in the transferring of wealth from the lower classes unto themselves.
The Billionaire World Politicians: Just think about this: An elected politician in the United States Congress may hold stocks in an oil company, Big Pharma, or the military industry—after having run for Congress, paid for by the very same group he now lobbies for.
The same person may also push for and write laws that deregulate that particular industry, causing certain stocks to soar; he may also buy stocks with the foreknowledge that the value will skyrocket as a result of upcoming, not yet public, amendments that he has worked on, with the potential of amassing enormous wealth for himself.
This is legal in the United States.
An important change in the U.S. political system opened up for this development.
The 2010 Supreme Court decision to give private corporations, not only individuals, the right to donate and pay for politicians’ rise to power.
Since then, the richest 0.01% have accounted for 40% of all campaign contributions through corporate donations.
“This has proved to be an excellent investment in wealth preservation”, writes Yanis Varoufakis, former finance minister of Greece and Professor of Economics at the University of Athens.
In order to attain broader control over governments and state funds, the instatement of weak, bureaucratic politicians who are dependent on the private corporation class is key. Who would slap the hand that feeds them?
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The Billionaire World Politicians: Strikingly few protests have come from leading politicians. Observing that the immensely increasing wealth among the few began feeding the ambitions for totalitarian control, our politicians have still been quick to flirt with the new, billionaire class.
As the rich aspired to also gain control over government funds and, thereby, the politicians who exerted power over how these funds were spent, our statesmen arguably complied without much protests.
How hard is it to influence a politician to donate government money into private projects owned by the very same billionaires who aspire for control over government funds? The trend seems to be to reward the willing with high-paying jobs in NGOs and private corporations after a career in national politics.
The very same corporations that fund politicians also fund multitudes of arguably politicised NGOs who are not so non-governmental any longer, think tanks, and the World Health Organization (WHO); they thereby pay their way into controlling public funds.
Billionaire investor Bill Gates is well known for being the largest funder of the WHO, after the U.S. government halted its payments in 2020. It gives him a special position, as he is reportedly treated as a
The close collaboration between governments and private billionaires may easily produce the billionaire takeover of government funds, or, at least, ensure lavish access to it. As politicians tend to originate from humble beginnings, once in higher positions, some are thrilled to make the acquaintance of the ultra-rich.
The Billionaire World Politicians: To travel in expensive private jets, be invited to lavish Davos parties, circulate among the wealthy—all this is excitingly new to many a politician from a lower class background. The seemingly endless photographs of cheerfully grateful low-paid government leaders greeting, for example, billionaire Bill Gates, posing proudly with him and the world’s richest men, tell the story of how easy it has been for the billionaire class to warm their entry into the pockets of tax-payer funds.
What happened to democracy, the will of the people, and national sovereignty? What happened to the separation of powers? What happened to politicians who were supposed to protect the interests of the people?