The three wealthiest Americans—Elon Musk, Jeff Bezos, and Mark Zuckerberg—sat together on Monday in a VIP section during the second inauguration of President Donald Trump.
It was a historic moment, showcasing a literal concentration of wealth, as the core of a group of billionaire guests with a combined worth exceeding $1 trillion gathered.
Images of what came to be known as “Billionaires’ Row” quickly circulated worldwide, sparking the same fascination as the photographs of five current and former presidents at Jimmy Carter’s funeral earlier that month.
While the sight of five presidents at Carter’s funeral was, by most accounts, a stirring moment, the image of three tech billionaires at Trump’s inauguration left a different impression for some observers.
“Watching the wealthiest men in America—and even the world—flank our new president, it felt undemocratic and, honestly, it felt ominous,” said Lindsay Owens, executive director of the Groundwork Collaborative, a left-leaning think tank.
For Owens and others, the gathering of these three men seemed to suggest that they might hold more influence over the second Trump administration than the average citizen.
“Whether you like billionaires or don’t like them, seeing them sit so close to the highest levels of political power should make anyone pause,” said Daniel Weiner, director of the Elections and Government Program at the Brennan Center for Justice, a center-left think tank.
‘An oligarchy is taking shape’
In a farewell address, President Joe Biden warned of an emerging oligarchy in America—one marked by extreme wealth, power, and influence, which he argued threatens the democracy and the rights and freedoms of everyday citizens.
Many interpreted this as a reference to Trump and his wealthy friends, particularly Musk. The world’s wealthiest man, Musk had contributed over a quarter-billion dollars to Trump’s reelection efforts. Musk is now overseeing a new Department of Government Efficiency, and it is reported that he holds a direct White House email address.
The image of Musk, Bezos, and Zuckerberg at the inauguration fueled discussions, especially among left-leaning groups, about a rising “broligarchy.”
Senator Bernie Sanders of Vermont pointed out in a video posted on X that the three men saw their combined wealth increase by more than $233 billion since the November elections. “No wonder they were sitting right behind Donald Trump at his inauguration,” Sanders remarked.
Bezos and Zuckerberg have also made recent moves that seem to cater to the new president. Bezos reportedly halted an endorsement of Kamala Harris, Trump’s Democratic rival, in The Washington Post, which he owns.
Zuckerberg ended Meta’s fact-checking program, which Trump had opposed. Both Amazon and Meta donated $1 million each to Trump’s inaugural fund. More recently, both companies scaled back their corporate diversity programs, an initiative Trump has strongly advocated for in his executive orders.
‘If James Madison saw it, I think he’d be pissed’
Political scientists have started predicting that Musk, Bezos, and Zuckerberg—none of whom are elected officials—could be allowed to play a major role in shaping policies during Trump’s second term.
“Democracy is supposed to serve the people, not just a small elite,” said Marc Hetherington, a political scientist at the University of North Carolina at Chapel Hill. Regarding the photo of Billionaires’ Row at the inauguration, Hetherington said, “If James Madison saw it, I think he’d be pissed.”
When asked for an example of the potential harm these billionaires could inflict on policy, Hetherington pointed to Trump’s recent announcement that the U.S. would prioritize space exploration in his second term, with plans to send astronauts to Mars. Musk, who is the CEO of SpaceX, raised his hands in celebration during the ovation that followed this announcement.
A human mission to Mars is estimated to cost around half a trillion dollars.
“It’s a pretty important thing for Musk to go to Mars,” Hetherington said. “And it’s not really something that most people want to do.”
Musk also has stakes in several companies that are regulated by the federal government or benefit from federal contracts or subsidies. As head of the new Department of Government Efficiency, Musk could influence budget cuts and regulatory changes that would benefit his businesses.
“You’re seeing it in the executive orders. You’re seeing it in the reshaping of the federal government,” said Celine McNicholas, director of policy and general counsel for the Economic Policy Institute, a left-leaning think tank. “This is not the way government is supposed to work.”
Will Musk and other billionaires get seats at the table?
The concern, according to McNicholas, is that billionaires like Musk could influence Trump to adopt policies that favor their businesses, rather than serving the nation’s needs.
Musk’s companies are currently under investigation by nine different federal agencies, facing allegations ranging from malfunctioning cars to national security concerns, Owens pointed out. As a White House insider, Musk could potentially work to quash these investigations.
“What benefits the public,” Owens said, “is when Musk’s companies play by the rules that all other companies follow.”
Critics of the “Broligarchy” gathering, including McNicholas, argue they would have the same reaction regardless of the political party of the president.
“Nancy Pelosi sits with rich people all the time,” McNicholas said. “She doesn’t give them a job in her office.”
However, simply because three wealthy Americans appeared at Trump’s inauguration does not necessarily mean they expect to receive a seat at the table in his administration.
Musk, Bezos, Zuckerberg, and other tech leaders have been “keen to self-identify with the Trump administration,” said Ryan Bourne, an economist at the libertarian Cato Institute.
Many tech leaders distanced themselves from the Democrats due to what they saw as excessive enforcement of antitrust law and overzealous scrutiny of social media under Biden’s administration.
By attending Trump’s inauguration, these billionaires may simply be signaling a desire to move forward.
Even so, their presence in the Capitol rotunda may have sent an unintended message.
“I don’t want us to live in a world,” Bourne said, “where business people feel like they need to curry favor with whoever is president to get the kind of policies they want.”