The word ‘oligarch’ returned to the media lexicon at Donald Trump’s inauguration this week when some of the world’s biggest technology entrepreneurs took their seats while US cabinet ministers were asked to sit dutifully behind them. Jeff Bezos, Elon Musk and Mark Zuckerberg felt the need to demonstrate loyalty to Trump. The President did not insist on them kissing his ring but allotted them places as if they were school prefects listening to their headmaster on speech day. Zuckerberg could not disguise his facial discomfort. The others were better actors.
Earlier this century it was Russian big business that was famous for its so-called oligarchs. Under President Yeltsin some of them received posts in government while continuing in business. Mikhail Khodorkovski for a while in 1992 was deputy minister of fuel and energy, and Boris Berezovski was deputy secretary of Yeltsin’s security council in 1996-1997.
There has been no need for Trump to issue a Kremlin-style warning to American big business
It wasn’t an oligarchy as usually defined, but there was no denying that big businessmen had political clout.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in