How the Billionaires Took Over
Yes, Donald Trump is a threat to democracy. But the far bigger menace is the monstrous growth in wealth concentration over five decades that made a Trump presidency possible—and maybe inevitable. Here’s how we let it happen.
I. A Parliament of Billionaires
Donald Trump is America’s first billionaire president. He entered the White House in 2017 with a net worth of $3.7 billion, according to Forbes, and in 2025 with a net worth of $5.2 billion. Trump’s habitat, unlike yours or mine, is crowded with billionaires. His primary residence outside the White House is in Palm Beach, home to 68 billionaires, including the financiers Stephen Schwarzman and Ken Griffin, who—just those two—spent a combined $144.2 million to elect Trump and other Republicans in 2024.
