5 Dem-supporting billionaires Biden didn’t mention while calling out political ‘oligarchy’

President Biden issued a warning to Americans about the growing threat of an “ultra-wealthy” oligarchy that is posing a danger to the country. During his farewell speech, he emphasized the dangerous concentration of power in the hands of a few extremely wealthy individuals, which he believes is a threat to democracy, basic rights, freedoms, and equal opportunities for all. However, it is worth noting that Biden did not mention the numerous billionaires who have supported his campaigns in recent years.

Here are five billionaires who have recently supported President Biden:

1. George Soros: The left-wing billionaire, investor, and philanthropist made a $250,000 contribution to the Biden Victory Fund in September 2023. Soros had also maxed out his contribution directly to Biden’s campaign that summer, along with his son Alex. In the past, George Soros has provided significant financial support to Biden’s campaign and super PACs backing him.

2. Reid Hoffman: LinkedIn co-founder Reid Hoffman donated $699,600 to the Biden Victory Fund in April 2023. He also hosted a fundraiser for the super PAC at his private residence in California, which Biden attended in June 2023.

3. Michael Bloomberg: Former New York City mayor and billionaire entrepreneur Michael Bloomberg contributed nearly $20 million to support President Biden’s reelection campaign in 2024. Bloomberg wrote a $19 million check to the Future Forward PAC, the leading super PAC supporting Biden’s bid for a second term.

4. Howard Schultz: Former Starbucks CEO Howard Schultz announced his support for Biden in 2020 and contributed to his campaign. Schultz emphasized the importance of preserving democracy and upholding values such as checks and balances, rigorous debate, a free press, belief in science, and trust in the rule of law.

5. Tom Steyer: Biden reportedly raised $4 million during a virtual fundraiser hosted by a group of billionaires and Silicon Valley donors in 2020. The event was organized by Climate Leaders for Biden, which includes billionaire and former Democratic presidential candidate Tom Steyer.

Despite President Biden’s warning about the dangers of an oligarchy formed by extreme wealth, power, and influence, it is important to acknowledge the support he has received from wealthy individuals in his political endeavors. As the country grapples with growing income inequality and disparities in wealth, the role of billionaires in politics continues to be a topic of debate and scrutiny.