Outgoing US President Joe Biden, who is set to exit the White House in less than five days, warned against "oligarchy taking shape in America" and a "dangerous concentration of power" among a very few ultra wealthy people that threatens the country’s democracy and a fair shot for everyone to get ahead.
He made the remarks while delivering his farewell speech from the Oval Office on Wednesday night (local US time). This is Biden’s fifth address from the Oval Office. The last remarks were made in July 2024 when he announced that he was dropping out of the presidential race, paving the way for Vice President Kamala Harris to secure the Democratic nomination.
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